What Did Fed Do to Make Dollar Pop?
By Kathy Lien, Managing Director of FX Strategy for BK Asset Management With the Federal Reserve holding its first monetary policy meeting of the year, it would be easy to attribute today’s dollar rally to the central bank’s comments. However, nothing in Fed Chairman Powell’s Q&A session warranted today’s spike in the dollar…
Dollar gains on risk aversion as stock rout spreads
By Stanley White TOKYO (Reuters) – The dollar extended gains against most currencies on Thursday as a stock market rout due to concerns about excessive valuations boosted safe-harbour demand for the U.S. currency. The euro nursed losses after a European Central Bank member warned that interest rate cuts are possible to curb the…
Dollar on the defensive with Fed’s Powell likely to sound dovish note
By Kevin Buckland TOKYO (Reuters) – The dollar was trapped on the back foot against major peers on Wednesday as markets wait on comments from Federal Reserve Chair Jerome Powell, who is likely to renew a commitment to ultra-easy policy. The greenback held declines against riskier currencies, with pandemic recovery hopes getting a…
Dollar firm as jittery markets look to Fed for catalysts
By Tom Westbrook SINGAPORE (Reuters) – The U.S. dollar steadied on Tuesday as rising coronavirus cases and doubts over the speed and size of U.S. stimulus tempered financial markets’ upbeat mood, while investors were also cautious ahead of the Federal Reserve’s review later in the week. In overnight trading, bonds rallied, hard-running U.S.…
Dollar firm as economic, pandemic gloom damp risk appetite
By Hideyuki Sano TOKYO (Reuters) – The dollar held ground against riskier currencies on Monday as weak economic data from Europe and fresh worries about the coronavirus supported investor demand for safe-havens, stretching greenback selling positions. Economic activity in the euro zone shrank markedly in January as stringent lockdowns to contain the coronavirus…
Senate panel to meet on Yellen nomination for Treasury on Friday
By Andrea Shalal and David Lawder WASHINGTON (Reuters) – The U.S. Senate Finance Committee scheduled a meeting for Friday to consider the nomination of Janet Yellen for Treasury Secretary, raising the possibility that she could be confirmed by the full Senate later that day, congressional sources said. The new administration of President Joe…
Asian stocks at record highs as Biden inauguration lifts stimulus hopes
SHANGHAI/NEW YORK (Reuters) – Asian stocks rose to new record highs on Thursday, tracking U.S. markets as investors hoped for more economic stimulus from newly inaugurated U.S. President Joe Biden to offset damage wreaked by the COVID-19 pandemic. Republicans in the U.S. Congress have indicated they are willing to work with the new…
Dollar on back foot as Biden optimism bolsters riskier currencies
By Kevin Buckland TOKYO (Reuters) – The dollar held losses versus most major peers on Thursday as optimism that a massive U.S. stimulus package under the new Joe Biden administration will bolster growth sapped demand for safe-haven currencies. Riskier commodity currencies remained higher after U.S. stocks rose to new records overnight as Biden,…
Oil extends gains on hopes of U.S. stimulus and crude stocks drawdown
By Sonali Paul MELBOURNE (Reuters) – Oil prices rose in early trade on Wednesday, adding to solid gains overnight, on expectations the incoming U.S. administration will go ahead with massive stimulus spending that would boost fuel demand and draw down crude stocks. U.S. West Texas Intermediate (WTI) crude futures climbed 23 cents, or…
Dollar slips as U.S. stimulus hopes lift mood
By Tom Westbrook SINGAPORE (Reuters) – The U.S. dollar nursed losses on Wednesday and the euro hung on to gains as investors’ mood brightened in the wake of a better-than-expected sentiment survey in Germany and big spending talk from U.S. Treasury Secretary nominee Janet Yellen. Yellen’s comments, urging lawmakers to “act big” on…
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