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…
Yen gains before Powell speech, Aussie jumps
By Karen Brettell NEW YORK (Reuters) – The greenback edged lower against the Japanese yen on Tuesday with Federal Reserve chairman Jerome Powell due to speak on Wednesday, while the Aussie dollar jumped as sentiment improved on hopes that China would reopen from COVID shutdowns. Powell’s comments will be evaluated for any new…
Dollar rebounds on Fed expectations, Aussie drops
NEW YORK (Reuters) – The dollar clawed back earlier losses on Monday as a hawkish Federal Reserve official laid out the case for further rate hikes, while the Australian dollar sank on concerns about unrest over COVID-19 restrictions in China. The greenback rebounded in early U.S. trading and added to gains after St.…
Dollar extends losses as Fed minutes signal slower rate hikes
By Samuel Indyk LONDON (Reuters) – The U.S. dollar extended losses on Thursday after the minutes from the Federal Reserve’s November meeting supported the view that the central bank would downshift and raise rates in smaller steps from its December meeting. The eagerly awaited readout of the Nov. 1-2 meeting showed officials were…
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