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NEW YORK (Reuters) - The dollar dipped on Tuesday for the fourth straight session, reaching its lowest level against a b...
19/05/2021

NEW YORK (Reuters) - The dollar dipped on Tuesday for the fourth straight session, reaching its lowest level against a basket of currencies since late February on waning fears that inflation spikes could prompt the Federal Reserve to raise interest rates sooner than anticipated.

U.S. Treasury yields stalled as investors grew more confident that the Fed will hold off on tightening its accommodative monetary policy, despite worrisome indicators that booming demand and scarce supply are sending prices soaring.

Those price increases have stoked fears of longer-term inflation, despite the central bank's assurances that the spikes will be transitory.

"The market has come around to the Fed's expectation that inflation is set to rise over near term but will plateau and decline in the coming months," said Joe Manimbo, senior market analyst at Western Union (NYSE:WU) Business Solutions in Washington.

The pound soared to a three-month high against the dollar, riding on the coattails of reopening optimism, but the end of...
19/05/2021

The pound soared to a three-month high against the dollar, riding on the coattails of reopening optimism, but the end of pandemic will bring the focus back on the Brexit effects that could halt cable’s run higher, according to an FX expert.

GBP/USD rose 0.39% to $1.4188.

“Corona euphoria is continuing, but we remain Sterling sceptical,” Commerzbank (DE:CBKG) FX, EM Analysts You-Na Park-Heger said in a note. But with the end of the pandemic, market attention “will increasingly focus on the (negative) Brexit effects again, […] we see little scope for further Sterling appreciation,” Heger added.

TOKYO (Reuters) - The dollar held gains on Thursday, supported by higher Treasury yields after a surprisingly strong ris...
13/05/2021

TOKYO (Reuters) - The dollar held gains on Thursday, supported by higher Treasury yields after a surprisingly strong rise in U.S. consumer prices fanned fears about an increase in inflationary pressure.

Traders will now turn attention to U.S. weekly jobless claims due later on Thursday and retail sales numbers on Friday for guidance on whether upward pressure on prices will persist.

Hong Kong is in talks with China to expand cross-border testing of the digital yuan after the first phase proceeded smoo...
13/05/2021

Hong Kong is in talks with China to expand cross-border testing of the digital yuan after the first phase proceeded smoothly, another step toward wider adoption of the currency.

The Hong Kong Monetary Authority recently conducted tests with the Digital Currency Institute of the People’s Bank of China, involving a bank designated by the mainland authority, as well as merchants and bank staff, the HKMA said in an e-mailed response to questions.

“We have tested the use of the related app, system connectivity and certain use cases such as cross-boundary purchases,” it said. “We are discussing and collaborating with the PBOC on the next phase of technical testing, including the feasibility of broadening and deepening the use of e-CNY for cross-boundary payments.”

LONDON (Reuters) - The U.S. dollar hovered above a 2-1/2-month low versus major peers on Wednesday, as traders hung on t...
12/05/2021

LONDON (Reuters) - The U.S. dollar hovered above a 2-1/2-month low versus major peers on Wednesday, as traders hung on to bets that the Federal Reserve would remain steadfast in its easy policy settings ahead of data expected to show a sharp rise in annual U.S. inflation.

Analysts forecast figures due at 1230 GMT to show a 3.6% lift in year-on-year prices, boosted by last April's low base. The month-on-month forecast is for a modest 0.2% rise.

(Graphic: US inflation: https://fingfx.thomsonreuters.com/gfx/mkt/bdwvkwznovm/Pasted%20image%201620806923123.png)

"We further expect that the release would highlight that, in addition to base effects in commodity prices, the U.S. inflation spike is driven by factors with greater staying power that could result in a more persistent inflation overshoot than expected by the Fed at present," said Valentin Marinov, head of G10 FX research at Credit Agricole (OTC:CRARY).

The dollar was up on Wednesday morning in Asia, but remained near its lowest levels of 2021, as investors increased bets...
12/05/2021

The dollar was up on Wednesday morning in Asia, but remained near its lowest levels of 2021, as investors increased bets that U.S. inflation data will not change the U.S. Federal Reserve’s current dovish monetary policy.

The U.S. Dollar Index that tracks the greenback against a basket of other currencies was up 0.23% to 90.332 by 11:37 PM ET (3:37 AM GMT).

The USD/JPY pair was up 0.21% to 108.84.

The AUD/USD pair was down 0.49% to 0.7802, with investors continuing to digest Australia’s big-spending budget, which was handed down on Tuesday. The NZD/USD pair was down 0.51% to 0.7237.

The USD/CNY pair edged up 0.15% to 6.4383. Meanwhile, the GBP/USD pair edged down 0.19% to 1.4114, remaining above the 1.4 mark.

The dollar fell to its lowest level in two months against the euro during the previous session, as Tuesday's Zentrum fur Europaische Wirtschaftsforschung Economic Sentiment Index read a better-than-expected 84.

NEW YORK (Reuters) -The U.S. dollar hit a 2-1/2-month low early in the New York session, then stabilized around those le...
12/05/2021

NEW YORK (Reuters) -The U.S. dollar hit a 2-1/2-month low early in the New York session, then stabilized around those levels on Tuesday afternoon, the eve of U.S. consumer price data, as investors bet that rising inflation could erode the currency's value.

In recent years, rising inflation expectations have helped the dollar because investors assumed the Federal Reserve would hike interest rates in response to higher prices. That is no longer the case.

A disappointing employment report last week triggered a widespread selloff in the greenback. And though surging commodity prices have raised concerns of higher inflation, markets believe the Fed will keep its commitment to low rates and hefty asset purchases.

"People are fearful that the Fed means what they say. And what they're saying is - we're not going to raise rates, but also we're going to let inflation run," said Andy Brenner, head of international fixed income at NatAlliance Securities.

Against a basket of its major rivals, the dollar dropped as low as 89.979, its lowest since Feb. 25, and was last down 0.11% at 90.138.

"Even if we see a print above expectations tomorrow, the likelihood of a robust dollar rally is very much lessened by the fact that far fewer market participants expect the Fed to react to that number in any way," said Karl Schamotta, chief market strategist at Cambridge Global Payments (NYSE:GPN).

The dollar was up on Friday morning in Asia but was set for a fourth consecutive week of losses, as the U.S. Federal Res...
01/05/2021

The dollar was up on Friday morning in Asia but was set for a fourth consecutive week of losses, as the U.S. Federal Reserve sticks to its dovish monetary policy.

The U.S. Dollar Index that tracks the greenback against a basket of other currencies inched up 0.03% to 90.618 by 12:26 AM ET (4:26 AM GMT).

The USD/JPY pair inched down 0.10% to 108.81. Japanese data released earlier in the day said industrial production increased 2.2% month-on-month in March, while the Tokyo core Consumer Price Index contracted 0.2% year-on-year in April.

TOKYO (Reuters) - The U.S. dollar skidded toward a fourth straight weekly decline against a basket of major peers on Fri...
01/05/2021

TOKYO (Reuters) - The U.S. dollar skidded toward a fourth straight weekly decline against a basket of major peers on Friday, as the Federal Reserve stuck to its message of ultra-low interest rates for longer.

The dollar index was on course to end the week 0.2% lower, bringing its losses for April to 2.8%. A four-week losing streak would be the longest since the six-week slide to the end of July, and the monthly loss would also be the biggest since July's 4% slump.

The Pound US Dollar exchange rate held steady today following the publication of the latest US GDP figure for the first ...
01/05/2021

The Pound US Dollar exchange rate held steady today following the publication of the latest US GDP figure for the first quarter, which revealed that the US economy had soared by 6.4%. The pairing is currently trading around $1.39.

As a result, the US Dollar (USD) has stabilised now that the outlook for the world’s largest economy has significantly improved.

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