Dollar hits 20-year high as Fed flags higher rates for longer
By Rae Wee SINGAPORE (Reuters) – The U.S dollar surged to a 20-year high against a basket of currencies on Monday after Federal Reserve Chair Jerome Powell signalled interest rates would be kept higher for longer to bring down soaring inflation. The dollar index scaled to a fresh two-decade peak of 109.44 in…
Dollar edges lower as investors wait on Fed’s Powell
By Karen Brettell NEW YORK (Reuters) – The dollar index slipped while the euro was steady on Thursday in choppy trading as investors awaited Federal Reserve Chairman Jerome Powell’s speech on Friday for further clues about the pace of the U.S. central bank’s rate hikes. Investors are tossing up between the likelihood of…
Euro edges back towards two-decade low as energy supply crunch adds to growth fears
By Samuel Indyk LONDON (Reuters) – The U.S. dollar recouped some data-inspired losses on Wednesday and edged back towards recent peaks, while the euro remained under pressure amid growing recession fears fuelled by a possible energy supply crunch. Disappointing U.S. services and manufacturing surveys released on Tuesday and a plunge in new home…
Dollar rises on risk aversion; euro revisits parity
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The U.S. dollar rose across the board on Monday, driving the euro back below parity, as investors shied away from riskier assets amid growing fears that interest-rate hikes in the United States and Europe, aimed at curbing inflation, would weaken the global economy. Against a basket…
Dollar jumps as Fed officials say more rate hikes needed
By Karen Brettell NEW YORK (Reuters) – The U.S. dollar index surged to a one-month high on Thursday as Federal Reserve officials spoke of the need for further rate hikes, and investors reevaluated Wednesday’s minutes from the U.S. central bank’s July meeting as being more hawkish than originally thought. The Fed needs to…
Dollar firm as Fed digs in for protracted inflation fight
By Tom Westbrook SINGAPORE (Reuters) – The dollar was on the front foot on Thursday after minutes from the Federal Reserve’s July meeting pointed to U.S. interest rates staying higher for longer to bring down inflation. The greenback gained most against the Antipodeans, especially the Aussie, which was dragged down as weaker-than-expected wage…
Dollar steady before retail sales, Fed minutes
By Karen Brettell NEW YORK (Reuters) – The dollar was little changed against a basket of currencies on Tuesday as investors waited on U.S. retail sales and minutes from the Federal Reserve’s July meeting on Wednesday. The greenback has bounced from a six-week low last week as investors ramp up bets that the…
Dollar gains on safety flows after China data, yuan eases on rate cut
By Joice Alves and Kevin Buckland LONDON (Reuters) – The safe-haven U.S. dollar rose on Monday after a new batch of disappointing data from China bolstered global recession worries, while the yuan weakened following a People’s Bank of China surprise rate cut. Chinese industrial output, retail sales and fixed-asset investment all fell short…
Dollar bruised after U.S. inflation comes in below expectations
By Alun John HONG KONG (Reuters) – The euro and Japanese yen were sitting pretty on Thursday morning after U.S. inflation data overnight came in less hot than feared and sent the dollar tumbling. U.S. consumer prices were unchanged in July compared with June, when prices rose a monthly 1.3%. The July result…
Dollar edges higher as traders await U.S. inflation report
By John McCrank NEW YORK (Reuters) – The safe-haven dollar edged higher on Tuesday, erasing earlier losses as risk appetite dwindled ahead of key inflation figures that could offer clues on how aggressive the Federal Reserve will be in its expected interest rate hike in September. The dollar index, which measures the currency’s…
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