U.S. dollar posts steep gains as investors brace for non-farm payrolls
By Caroline Valetkevitch and Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The dollar rose on Thursday, climbing for a second straight session, as investors bet on another strong U.S. non-farm payrolls report that should keep the Federal Reserve on an aggressive tightening path for some time. The dollar index, which measures the greenback against a…
Dollar clings to gains as bets on further Fed hikes firm
By Tom Westbrook SYDNEY (Reuters) – The dollar fought for a footing in choppy trade on Thursday, with support from upbeat U.S. data and hawkish policymaker comments, while the prospect of higher energy prices helped exporters’ currencies and weighed on those of importers. The dollar rose 1% on the euro and 1.3% on…
Sterling climbs after tax plan reversal, dollar also weaker against other major currencies
By Caroline Valetkevitch and Alun John NEW YORK/LONDON (Reuters) – Sterling jumped against the dollar on Monday after Britain reversed a plan to cut the highest rate of income tax, and the dollar was also down against other major currencies. The pound rose against the dollar after media reports of the u-turn to…
Sterling rallies for 3rd day after BoE bond buys; U.S. dollar down
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Sterling rose sharply in volatile trading on Thursday, rallying from record lows hit on Monday, after the Bank of England conducted a second day of bond buying to stabilize financial markets. The pound posted its largest one-day percentage gain since March 2020 and last traded at…
Sterling, euro rally against dollar after BoE buys UK bonds
By Sinéad Carew and Alun John NEW YORK/LONDON (Reuters) – After tumbling earlier, sterling rallied against the dollar on Wednesday following the Bank of England’s (BOE) purchase of UK government bonds, letting some air out of the greenback’s progress broadly after it had touched a fresh 20-year high. The BoE said it received…
Asia FX Battered by Hawkish Fedspeak, Dollar Back at 20-Year Peak
By Ambar Warrick Investing.com– Asian currencies plummeted on Wednesday, while the dollar surged to new 20-year highs on hawkish comments from Federal Reserve officials and growing safe haven demand. The dollar index jumped 0.4% to a new 20-year high of 114.68, while dollar index futures rose in a similar range. A broad market…
Yen rallies after Japan intervenes with first support since 1998
By Gertrude Chavez-Dreyfuss and Alun John NEW YORK/LONDON (Reuters) – The Japanese yen soared across the board on Thursday after monetary authorities intervened in the foreign exchange market to boost the battered currency for the first time since 1998, although analysts said Japan may struggle to keep the yen strong. The dollar was…
U.S. dollar soars to two-decade high as Fed flags more large hikes
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The dollar surged to a fresh two-decade high on Wednesday after the Federal Reserve raised interest rates by another 75 basis points and signalled more large increases at its upcoming meetings. Dollar gains were limited since the Fed decision was widely expected. Still, since U.S. rates will…
Dollar ascendant as investors gear up for Fed
By Rae Wee SINGAPORE (Reuters) – The dollar hovered near a two-decade peak against a basket of currencies on Wednesday, after yields on U.S. Treasuries leaped ahead of an interest rate decision that is likely to set the tone in financial markets for months to come. The U.S. dollar index, which measures the…
Dollar holds ground ahead of Fed, yuan under pressure
By Rae Wee SINGAPORE (Reuters) – The dollar eased from multi-year highs on Friday after a strong rally earlier in the week, though expectations that the Federal Reserve would need to hike more to keep inflation in check sent Treasury yields higher and kept the greenback in demand. The towering dollar pushed the…
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