Gold slips from 2-½ month high on profit taking, hawkish Fed rhetoric
By Ambar Warrick Investing.com– Gold prices retreated from a 2-½ month high on Monday as comments from some members of the Federal Reserve suggested that the bank will continue to act tough against inflation, while copper prices fell slightly as investors locked in stellar gains from last week. Bullion prices logged their best…
Dollar slides, CPI data suggests Fed could slow pace of rate hikes
By Herbert Lash NEW YORK (Reuters) – The dollar fell sharply on Thursday after U.S. consumer prices rose less than expected in October to suggest underlying inflation is cooling, data that Wall Street cheered as it may allow the Federal Reserve to get less aggressive with interest rate hikes. The data boosted other…
Dollar advances ahead of inflation data; cryptos crumble
By Rae Wee SINGAPORE, Nov 10 (Reuters) – The dollar regained its footing on Thursday ahead of key U.S. inflation data due later in the day, while cryptocurrencies were fragile after a bailout deal for exchange FTX by its bigger rival Binance collapsed. The greenback surged overnight against its peers and held to…
Dollar firms after hawkish Fed as sterling sinks; focus on U.S. jobs
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar gained against major currencies on Thursday after Federal Reserve Chair Jerome Powell signalled U.S. interest rates will likely peak at a higher level than markets expected, while sterling fell after the Bank of England raised rates but warned of a “very challenging outlook.” The…
Dollar regains strength as Powell dashes hope of a Fed pause
By Herbert Lash and Saqib Iqbal Ahmed NEW YORK (Reuters) – The dollar regained some strength on Wednesday after Federal Reserve Chair Jerome Powell said it was premature to discuss a pause in its hiking of interest rates to battle rising consumer prices, as there is “no sense that inflation is coming down.”…
Dollar sags as Fed decision looms; yen surges
By Kevin Buckland TOKYO (Reuters) – The U.S. dollar slipped from near a one-week peak versus major peers on Wednesday, with traders on tenterhooks before a looming Federal Reserve rate decision that should also give clues on the future policy path. The yen outperformed, seeing a sudden burst of strength mid-morning Japan time,…
U.S. dollar rises as Fed likely doing another big hike; sterling sinks
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar gained across the board on Monday, regaining some of the luster it lost earlier in the month, bolstered by expectations of another supersized rate increase at this week’s Federal Reserve monetary policy meeting. That said, the dollar’s gains could be limited if the Fed…
Euro sinks more than 1% after ECB rate hike, U.S. GDP data
By John McCrank NEW YORK (Reuters) – The euro dropped more than 1% on Thursday, falling back below parity with the dollar, after the European Central Bank (ECB) raised interest rates and U.S. data showed that the world’s biggest economy rebounded more than expected in the third quarter. The ECB raised its deposit…
Dollar sells off on speculation of less hawkish Fed, euro regains parity
By John McCrank NEW YORK (Reuters) – The U.S. dollar sank more than 1% against a basket of peers on Wednesday as weakening economic data firmed views that the Federal Reserve will slow the pace of its rate hiking cycle, sending the euro back above parity with the greenback for the first time…
Sterling at 6-week high as Sunak becomes PM, while dollar sags
By John McCrank NEW YORK (Reuters) – Sterling rallied to a six-week high on Tuesday on improved risk sentiment as Rishi Sunak became Britain’s prime minister, while the dollar fell to a three-week low as weakening U.S. economic data cooled expectations on the pace of future U.S. rate hikes. The potential for foreign…
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