Yen surges after surprise BOJ policy tweak
By Saqib Iqbal Ahmed NEW YORK (Reuters) – The yen jumped to a four-month high against the U.S. dollar, on pace for its biggest one-day rise in 24 years, on Tuesday after the Bank of Japan stunned markets with a surprise tweak to its bond yield control program. While it kept broad policy…
U.S. dollar gains sharply across the board as recession fears mount
By Gertrude Chavez-Dreyfuss and Karen Brettell NEW YORK (Reuters) – The U.S. dollar soared on Thursday, led by strong gains against the yen, sterling, and commodity currencies, as investors fretted about the risk of recession with the Federal Reserve likely to raise interest rates well into next year. The greenback’s allure was magnified,…
Dollar loses ground after Fed raises rates, forecasts more hikes
NEW YORK (Reuters) – The dollar was lower against the yen and the euro on Wednesday after first gaining ground when the U.S. Federal Reserve raised interest rates by half a percentage point as expected and said it would need to continue to raise rates. The greenback reversed course and retreated when Fed…
U.S. dollar tumbles across the board as inflation rise eases
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar nosedived across the board on Tuesday after data showed U.S. consumer price inflation rose less than expected last month, reinforcing expectations the Federal Reserve will slow the pace of rate increases after its two-day meeting on Wednesday. The greenback fell to a six-month low…
Dollar firm in calm before CPI and central bank storm
By Tom Westbrook SINGAPORE (Reuters) – The dollar was firm on Tuesday leading in to the release of U.S. inflation data and the final Federal Reserve meeting of the year, with investors waiting to update interest rate outlooks. A month ago, a small surprise to the downside unleashed a wave of bond-buying and…
Recession worries could support dollar after monstrous 2022 rally
By Saqib Iqbal Ahmed NEW YORK (Reuters) – A breathtaking surge in the U.S. dollar trampled foreign currencies, gouged corporate profits and gave investors one of the year’s few winning trades. Though the greenback has stumbled in recent weeks, recession worries may keep it elevated in 2023. At its September peak, the dollar…
Dollar eases against major currencies amid rate, economic concerns; yuan strengthens
By Caroline Valetkevitch NEW YORK (Reuters) – The U.S. dollar weakened slightly against major currencies on Wednesday amid concerns that rising interest rates could push the U.S. economy into recession, while an easing of China’s COVID restrictions boosted the yuan. Some U.S. bank executives are bracing for a worsening U.S. economy next year.…
Dollar inches higher after previous day’s jump; investors look to Fed next week
By Caroline Valetkevitch NEW YORK (Reuters) – The U.S. dollar was up slightly against the euro and yen on Tuesday as U.S. stocks sold off, while investors were trying to position for next week’s expected interest rate hike from the U.S. Federal Reserve. The dollar’s activity was also more muted after it rose…
Dollar gains broadly as upbeat U.S. data muddles Fed rate hike views
By John McCrank NEW YORK (Reuters) – The dollar gained against the yen, the euro and the pound on Monday after data showed that U.S. services industry activity unexpectedly picked up in November, prompting speculation the Federal Reserve may lift interest rates more than recently projected. The Institute for Supply Management (ISM) said…
Dollar dips as Powell says rate hikes may slow
By Karen Brettell NEW YORK (Reuters) – The dollar dipped on Wednesday after Federal Reserve Chairman Jerome Powell said that the U.S. central bank could scale back the pace of its interest rate hikes “as soon as December,” helping to put the dollar index on track for its worst month since 2010. Powell…
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