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…
Dollar rises amid suspected BOJ intervention; pound choppy as Sunak gets top job
By John McCrank NEW YORK (Reuters) -The dollar edged higher on Monday despite another suspected foreign exchange intervention by Japan, while sterling was choppy after Rishi Sunak was picked to become Britain’s third prime minister in the last seven weeks, and China’s offshore yuan fell to a record low. The yen hit a…
Yen hits weakest level since 1990, pound down after PM announces resignation
By Karen Brettell NEW YORK (Reuters) – The dollar surpassed the symbolic level of 150 yen for the first time since 1990 on Thursday, while the British pound turned negative in choppy trading after Liz Truss said she would resign as the United Kingdom’s prime minister. The Japanese currency dipped sharply from an…
Dollar gains with Treasury yields, sterling tumbles on hot inflation
By Karen Brettell NEW YORK (Reuters) – The dollar bounced from two-week lows on Wednesday as benchmark 10-year Treasury yields rose to 14-year highs, while sterling weakened after hotter-than-expected UK consumer price inflation fueled concerns about a deeper recession. The greenback hit a 32-year peak against the yen, approaching the 150 level at…
Dollar higher but gains in check as risk appetite rebounds
By Saqib Iqbal Ahmed NEW YORK (Reuters) – The U.S. dollar edged higher against a basket of currencies on Tuesday, shaking off some of the weakness of the previous session, but a revival in risk appetite in global financial markets kept a lid on its gains. “Yesterday’s risk-on vibe looks to be continuing…
Dollar dips as UK budget U-turn improves market sentiment
By Karen Brettell NEW YORK (Reuters) – The dollar dipped against a basket of major currencies and sterling jumped on Monday after Britain’s new finance minister ditched most of the government’s “mini-budget”, while better than expected earnings from Bank of America (NYSE:BAC) helped to boost risk appetite. Investors are also focused on whether…
Japan’s top currency diplomat: will respond to excessive FX moves
By Tetsushi Kajimoto TOKYO (Reuters) -Japan will respond firmly to excessive currency fluctuations, its top currency diplomat Masato Kanda said, following the yen’s sharp fall to a 32-year low to the dollar. “Each country would respond appropriately” to an agreement on foreign exchange market moves by the Group of Seven (G7) and G20…
U.S. dollar retreats, comes off 32-year high vs yen as inflation-fueled gains fade
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar fell against most currencies in volatile trading on Thursday, after initially spiking following a hotter-than-expected U.S. inflation report, as some investors thought the market’s initial response to the data was excessive. The greenback briefly hit a 32-year peak against the yen of 147.665 after…
U.S. dollar soars to new 24-year high versus yen; sterling rebounds
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar climbed to a fresh 24-year peak versus the yen on Wednesday, holding above levels that prompted intervention by Japanese officials last month, while sterling rose after a sharp fall in the previous session as investors pondered the Bank of England’s next steps. The greenback…
U.S. dollar rises, yen not far from 24-year trough that prompted intervention
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The safe-haven U.S. dollar gained broadly in volatile trading on Tuesday, adding to recent gains, after a top Bank of England official reiterated that the central bank will end its bond-buying program on Friday and told pension fund managers to finish rebalancing their positions within that…
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