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The dollar was back on the front foot on Wednesday, making modest gains after earlier losses from renewed bets on Federal Reserve rate cuts this year, while the yen eased towards the 155 per dollar level and kept intervention risks from Tokyo high. The dollar was back on the front foot on Wednesday, making modest gains after earlier losses from renewed bets on Federal Reserve rate cuts this year, while the yen eased towards the 155 per dollar level and kept intervention risks from Tokyo high. Analysts have said that any intervention from Tokyo would only serve as a temporary respite for the yen, given stark interest rate differentials between the U.S. and Japan remain. Analysts expect the central bank to leave the door open to lower interest rates as early as June. The Australian dollar fell 0.2% to $0.6585, pressured in part by a less hawkish outlook from the Reserve Bank of Australia than anticipated after it held interest rates steady on Tuesday.

Persons: Kazuo Ueda, Shunichi Suzuki, they'll, Carol Kong, Neel Kashkari, Kashkari, Rodrigo Catril Organizations: Federal, U.S, Bank of Japan, country's Finance, Commonwealth Bank of Australia, New Zealand, greenback, Minneapolis, Minneapolis Fed, National Australia Bank, Bank of, Reserve Bank of Australia Locations: Tokyo, Beijing, Japan, Bank, U.S, Minneapolis

☆ Yen hits 34-yr low ahead of key U.S. inflation data
▼ + stars: | 2024-03-27 | by ( ) www.cnbc.com time to read: +2 min

Japanese yen banknotes of various denominations are arranged in Kawasaki, Japan, on Friday, June 23, 2023. The yen briefly traded at 151.97 per dollar in the Asia session, down about 0.2% and its weakest since mid-1990. China's yuan and the New Zealand dollar traded near four-month lows. The yuan weakened to 7.2285 per dollar despite a strong fix of its trading band. The New Zealand dollar fell 0.2% to $0.5988, not helped by a downward revision to the government's economic growth forecasts.

Persons: Rodrigo Catril, Naoki Tamura Organizations: National Australia Bank, Bank of Japan, New Zealand Locations: Kawasaki, Japan, Asia

☆ Dollar at one-month high as rate cut expectations ease on Fedspeak
▼ + stars: | 2024-01-17 | by ( ) www.cnbc.com time to read: +2 min

The dollar index hovered at a one-month high against a basket of currencies on Wednesday as remarks by Federal Reserve Governor Christopher Waller dampened expectations for a March rate cut. "I will need more information in the coming months confirming or (conceivably) challenging the notion that inflation is moving down sustainably toward our inflation goal," before backing rate cuts, he said on Tuesday. Market expectations of a rate cut in March have eased to a 62.2% chance versus an 76.9% view in the prior session, according to CME's FedWatch Tool. "Rate cuts are coming but not as soon as some might be hoping for," Sycamore said. Meanwhile, the euro was hanging near a one-month low at $1.0875 after its steepest one-day percentage drop in two weeks, following comments from several ECB policymakers this week that maintained uncertainty over the timing of rate cuts.

Persons: Christopher Waller, Waller, CME's, Tony Sycamore, Christine Lagarde, Sycamore, Sterling, Rodrigo Catril Organizations: Federal Reserve, IG, European Central Bank, Treasury, Bank of Japan, National Australia Bank Locations: U.S, Asia

☆ Asia shares start Dec on cautious note, oil nurses losses
▼ + stars: | 2023-12-01 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.5% after a surge of 7.3% last month, the most since January. The Federal Reserve's preferred gauge of inflation - the personal consumption expenditures (PCE) price index - stood unchanged for October, while consumer spending also pulled back. Fed funds futures imply rate cuts of 115 basis points. The yield on 10-year Treasury notes slipped 3 basis points in Asia to 4.3264%, on top of a plunge of 52.2 basis points for the month. Two-year Treasury yields fell 4 basis points to 4.674%.

Persons: Tyrone Siu, sharemarkets, HSI, Rodrigo Catril, Jerome Powell's Q, Waller, Robert Carnell, Christopher Waller, Treasuries, Stella Qiu, Jamie Freed Organizations: REUTERS, Tyrone, Rights, Japan's Nikkei, National Australia Bank . Regional, Federal, Traders, ING, Fed, South Korean, Philippine, Brent, West Texas, Thomson Locations: Exchange, Hong Kong, China, Europe, U.S, Asia, Pacific, Japan, South

☆ Asian stocks inch ahead as traders brace for inflation data
▼ + stars: | 2023-11-28 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

Japan's Nikkei (.N225) eased 0.20% but is up 8% this month, on course for its strongest monthly performance in three years. "The outlook for central bank policy has been a big factor driving the improvement in risk appetite in November," said Rodrigo Catril, senior FX strategist at National Australia Bank. Investors will focus this week on the Fed's preferred measure of inflation on Thursday and euro zone consumer inflation figures for further clarity on the where inflation is headed. The weaker-than-expected data weighed on Treasury yields, with the yield on benchmark 10-year notes slipping 9.6 basis points on Monday. The dollar index , a measure of the greenback against a basket of currencies, fell to 103.11, its lowest since Aug. 31.

Persons: Rodrigo Catril, Catril, Christine Lagarde, Jerome Powell, HSI, Brent, Ankur Banerjee, Sam Holmes Organizations: Federal, Japan's Nikkei, National Australia Bank, European Central Bank, Treasury, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, U.S, OPEC

☆ Yen's fall toward multi-decade lows keeps markets on intervention watch
▼ + stars: | 2023-11-14 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

Against the dollar, the yen last stood at 151.72 , languishing near a one-year low of 151.92 hit on Monday. A break below last year's trough of 151.94 per dollar would mark a fresh 33-year low for the yen. "I'm inclined to also think that it wasn't a BOJ intervention... It intervened again in October 2022 after the yen plunged to a 32-year low of 151.94. The comments have kept the U.S. dollar bid and against the greenback, the New Zealand dollar fell to an over one-week low of $0.58705.

Persons: Thomas White, Carol Kong, Rodrigo Catril, Jerome Powell, NAB's, Rae Wee, Sam Holmes Organizations: REUTERS, Rights, Bank of Japan's, greenback, Commonwealth Bank of Australia, Bank of, National Australia Bank, NAB, Ministry of Finance, Federal, U.S, New Zealand, Sterling, Reserve Bank of Australia, Thomson Locations: Japan, Rights SINGAPORE, Asia, New York, Bank of Japan, U.S

☆ Dollar firms, yen weakens to intervention-wary level
▼ + stars: | 2023-10-26 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. The Japanese yen touched a fresh one-year low of 150.32 per dollar overnight and was last at 150.26. Japanese finance minister Shunichi Suzuki warned investors against selling the yen again on Thursday, saying authorities were closely watching moves. The New Zealand dollar also touched an 11-month low of $0.5780 and was last down 0.22% at $0.5788. Soft European economic data and negative interest rate differentials between Europe and the US will likely keep a lid on euro/dollar."

Persons: Florence Lo, Shunichi Suzuki, Suzuki, Carol Kong, Rodrigo Catril, CBA's, Sterling, bitcoin, Ankur Banerjee, Edwina Gibbs Organizations: U.S, REUTERS, Rights, Commonwealth Bank of Australia, Bank of Japan, Reuters, Australian, New Zealand, Benchmark, National Australia Bank, Canadian, Bank of Canada, European Central Bank, ECB, Thomson Locations: Rights SINGAPORE, Europe, Singapore

☆ Dollar pauses rally as markets brace for US nonfarm payrolls test
▼ + stars: | 2023-10-06 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. The dollar index , which earlier in the week hit a roughly 11-month high of 107.34, last settled at 106.37, but remained on track for 12 straight weeks of gains. The benchmark 10-year Treasury yield last stood at 4.7269%, while the two-year yield settled at 5.0267%. The pause in the dollar's rally has also provided a much-needed reprieve for the yen , which last bought 148.48 per dollar. Sterling edged 0.03% lower to $1.2188 and was likewise headed for five straight weeks of losses, struggling against a dominant dollar.

Persons: Rick Wilking, Rodrigo Catril, We've, Vishnu Varathan, Thierry Wizman, Rae Wee, Shri Navaratnam Organizations: REUTERS, Rights, . Treasury, greenback, U.S, Treasury, National Australia Bank, Bank of Japan, Ministry of Finance, Mizuho Bank ., Sterling, European Central Bank, Bank of England, Reserve Bank of Australia, New Zealand, Reserve Bank of New, Thomson Locations: Westminster , Colorado, Rights SINGAPORE, U.S, Reserve Bank of New Zealand

☆ Dollar pauses rally as markets brace for U.S. nonfarm payrolls test
▼ + stars: | 2023-10-06 | by ( ) www.cnbc.com time to read: +3 min

The dollar dipped on Friday but traders were largely keeping to the sidelines in both the currency and U.S. Treasury markets as they looked to U.S. nonfarm payrolls data later in the day for potential catalysts. The dollar index , which earlier in the week hit a roughly 11-month high of 107.34, last settled at 106.37, but remained on track for 12 straight weeks of gains. The benchmark 10-year Treasury yield last stood at 4.7269%, while the two-year yield settled at 5.0267%. The pause in the dollar's rally has also provided a much-needed reprieve for the yen , which last bought 148.48 per dollar. Sterling edged 0.03% lower to $1.2188 and was likewise headed for five straight weeks of losses, struggling against a dominant dollar.

Persons: Rodrigo Catril, We've, Vishnu Varathan, Thierry Wizman Organizations: . Treasury, greenback, U.S, Treasury, National Australia Bank, Bank of Japan, Ministry of Finance, Mizuho Bank ., Sterling, European Central Bank, Bank of England, Reserve Bank of Australia, New Zealand, Reserve Bank of New Locations: U.S, Reserve Bank of New Zealand

☆ Yen cowers near 150 as intervention chatter runs rife
▼ + stars: | 2023-10-04 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

[1/3] Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. Japanese authorities last year intervened to prop up the yen for the first time since 1998. Other currencies similarly fell against the yen in the previous session, with the euro losing more than 1.5% to a low of 154.39 yen. Sterling edged 0.03% lower to $1.20745, languishing near the previous session's close to seven-month low of $1.20535. Meanwhile, Cleveland Fed President Loretta Mester said she is open to raising interest rates again.

Persons: Florence Lo, James Malcolm, Masato Kanda, Janet Yellen, Rodrigo Catril, Raphael Bostic, Loretta Mester, Rae Wee, Sam Holmes Organizations: U.S, REUTERS, Rights, UBS, Tokyo, Treasury, Sterling, National Australia Bank, Atlanta Fed, Cleveland Fed, New Zealand, Reserve Bank of New Zealand, Thomson Locations: Rights SINGAPORE, Asia, Washington, Japan

☆ Yen cowers near 150 as Japanese intervention chatter runs rife
▼ + stars: | 2023-10-04 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. Japanese authorities last year intervened to prop up the yen for the first time since 1998. Other currencies similarly fell against the yen in the previous session, with the euro losing more than 1.5% to a low of 154.39 yen. The Aussie stood at 94.03 yen , after having fallen to an over one-month low of 93.16 yen on Tuesday. Sterling edged 0.02% lower to $1.2076, languishing near the previous session's close to seven-month low of $1.20535.

Persons: Florence Lo, James Malcolm, Shunichi Suzuki, Masato Kanda, Janet Yellen, Rodrigo Catril, Raphael Bostic, Loretta Mester, Rae Wee, Sam Holmes, Stephen Coates Organizations: U.S, REUTERS, Rights, UBS, Japanese Finance, Tokyo, Treasury, New Zealand, Sterling, National Australia Bank, Atlanta Fed, Cleveland Fed, Thomson Locations: Rights SINGAPORE, Asia, Washington, Japan

☆ Euro gains, yen struggles in central bank-packed week
▼ + stars: | 2023-09-19 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

A Reuters report on Monday citing six sources said the debate over the multi-trillion-euro pool of excess liquidity sloshing around banks was likely to start next month. However, this might not be enough to give the euro a more sustained boost, according to Lee Hardman, a strategist at MUFG. "While the ECB’s reported plans to tighten excess liquidity in the euro area have helped to support the euro, they are unlikely to be sufficient on their own to turn the current weakening trend," he said. This week brings a raft of central bank meetings, including those of the Federal Reserve, the Bank of Japan, the Bank of England and the Swiss National Bank, among others, which kept currency volatility on the subdued side. In other currencies, sterling edged up 0.1% at $1.2398, ahead of an interest rate decision from the BoE on Thursday.

Persons: Dado Ruvic, Lee Hardman, Kazuo Ueda, Rodrigo Catril, Erik Weisman, BoE, Rae Wee, Lincoln, Peter Graff, Hugh Lawson Organizations: REUTERS, European Central Bank, Reuters, ECB, Federal Reserve, Bank of Japan, Bank of England, Swiss National Bank, National Australia Bank, NAB, U.S, Fed, MFS Investment Management, Thomson Locations: U.S

☆ Yen flounders, dollar drifts ahead of c.bank bonanza
▼ + stars: | 2023-09-19 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. The yen fell 0.1% to 147.76 per dollar and was kept pinned near last week's 10-month low of 147.95 per dollar. The euro meanwhile gave up some of its gains from the previous session and was last 0.12% lower at $1.0678. It had risen alongside euro zone government bond yields on Monday, following hawkish comments from European Central Bank (ECB) policymakers that further rate increases were on the cards. In other currencies, sterling edged 0.04% higher to $1.2390, ahead of an interest rate decision from the Bank of England (BoE) also due this week.

Persons: Dado Ruvic, Kazuo Ueda, Rodrigo Catril, Erik Weisman, NAB's Catril, BoE, Rae Wee, Lincoln Organizations: REUTERS, Rights, Federal, Wednesday, Bank of Japan's, National Australia Bank, NAB, Reserve Bank of Australia's, U.S, New Zealand, Fed, MFS Investment Management, European Central Bank, ECB, Reuters, Bank of England, Thomson Locations: Rights SINGAPORE, Asia

☆ Euro gains; yen flounders ahead of c.bank bonanza
▼ + stars: | 2023-09-19 | by ( ) www.cnbc.com time to read: +3 min

In this photo illustration, banknotes of Euro, Japanese Yen, Chinese Yuan and US dollar bill are placed under one-ounce silver bullion coins arranged on February 20, 2021 in Katwijk, Netherlands. The euro clung to gains on Tuesday following hawkish comments from European Central Bank, or ECB, policymakers, while the yen languished near a 10-month low ahead of a key rate decision from the Bank of Japan, or BOJ, later in the week. In Asia, the yen slipped marginally to 147.64 per dollar and was kept pinned near last week's 10-month low of 147.95 per dollar. Elsewhere, the U.S. dollar edged broadly lower, though strayed not too far from a six-month peak hit against its major peers last week ahead of the Fed's interest rate decision on Wednesday. Sterling edged 0.04% higher to $1.2390, ahead of an interest rate decision from the Bank of England, or BoE, also due this week.

Persons: Yuan, Rodrigo Catril, Kazuo Ueda, Erik Weisman, BoE Organizations: European Central Bank, Bank of Japan, Federal Reserve, ECB, National Australia Bank, Reuters, U.S, New Zealand, Fed, MFS Investment Management, Bank of England Locations: Katwijk , Netherlands, Asia

☆ Dollar firm as markets eye China data
▼ + stars: | 2023-09-15 | by ( ) www.cnbc.com time to read: +1 min

The dollar was on the front foot in Asia on Friday, retaining overnight gains against peers after strong U.S. economic data and an ECB rate hike, with traders' attention warily turning to a data deluge from China. U.S. retail sales received a boost from higher gasoline prices, increasing 0.6% in August versus an estimated 0.2% rise, while market participants reacted to the European Central Bank's 25-basis point hike. "The data today will be super important," said Rodrigo Catril, senior FX strategist at the National Bank of Australia. The offshore yuan inched further down against the dollar to 7.2918 ahead of the data. "In that sense it means that any disappointment coming out of the data today, we'll likely see the CNY under pressure," with risks to the Aussie and the Kiwi as well, he said.

Persons: Rodrigo Catril, we'll Organizations: Central, U.S, Mizuho Bank, National Bank of Australia, People's Bank of China's, Kiwi Locations: Asia, China . U.S, Thursday's, China

☆ Dollar holds steady, yuan rises on better-than-expected China data
▼ + stars: | 2023-09-15 | by ( Brigid Riley | ) www.reuters.com time to read: +3 min

The U.S. dollar index last stood somewhat lower at 105.32, but still near Thursday's six-month peak of 105.43. The yuan and Australian and New Zealand dollars received a boost after a batch of economic data from China in the Asian morning came in better-than-expected for some key indicators, providing a rare lift in sentiment. The offshore yuan inched up against the dollar to 7.2918 following the release. The Australian dollar , a proxy for China growth, rose nearly 0.3% to $0.6443, while the New Zealand dollar was up 0.2% at $0.5912. The yen stuck near 147.41 per dollar in the Asian morning.

Persons: Dado Ruvic, Rodrigo Catril, Sterling, Simon Harvey, Brigid Riley, Indradip Ghosh, Lincoln, Navaratnam Organizations: REUTERS, Rights, Central, U.S, greenback, New Zealand, People's Bank of China's, National Bank of Australia, Australian, Mizuho Bank, Thomson Locations: Asia, China, Thursday's, Europe

The dollar index , which measures the U.S. currency against six peers, edged 0.08 lower to 104.08 after hitting its highest since early June on Friday. "It remains unlikely we get a hike from the Fed in September," Chris Weston, head of research at Pepperstone, said. With the Fed highlighting the importance of the upcoming U.S. economic data, investors' focus this week will be on reports on payrolls, core inflation and consumer spending. But the single currency traded near an almost 11-week low hit on Friday after European Central Bank President Christine Lagarde said policy needed to be restrictive. China's yuan steadied against the dollar, buoyed by the Chinese central bank repeatedly setting stronger-than-expected daily-mid-points.

Persons: Dado Ruvic, Jackson, Jerome Powell, Chris Weston, Weston, Rodrigo Catril, Christine Lagarde, Tommy Wu, Joice Alves, Ankur Banerjee, Mark Potter, Barbara Lewis Organizations: REUTERS, Fed, National Australia Bank, European Central Bank, Bank of Japan, Sterling, London, Thomson Locations: SINGAPORE, U.S, China, Japan, London, Singapore

The dollar index , which measures the U.S. currency against six peers, edged 0.06% lower at 104.11, after hitting its highest since early June on Friday. "But November is shaping up to be a 'live' event, where data points have the potential to throw interest rate expectations around." With the Fed highlighting the importance of the upcoming U.S. economic data, investors' focus this week will firmly be on reports on payrolls, core inflation and consumer spending. According to Refinitiv data, the market is now evenly split on whether there will be another rise in the 3.75% rate in September. China's yuan steadied against the dollar, buoyed by the Chinese central bank persistently setting stronger-than-expected daily-mid-points.

Persons: Dado Ruvic, Jerome Powell, Powell, Chris Weston, Weston, Rodrigo Catril, Christine Lagarde, Tommy Wu, Joice Alves, Ankur Banerjee, Mark Potter Organizations: REUTERS, Fed, National Australia Bank, European Central Bank, Bank of Japan, Thomson Locations: SINGAPORE, China, Beijing, U.S, Japan, London, Singapore

☆ Dollar soft as investors digest 'higher for longer' path
▼ + stars: | 2023-08-28 | by ( ) www.cnbc.com time to read: +3 min

"We will proceed carefully as we decide whether to tighten further or, instead, to hold the policy rate constant and await further data," Powell said in a keynote address. "It is the Fed's job to bring inflation down to our 2% goal, and we will do so." "It remains unlikely we get a hike from the Fed in September," said Chris Weston, head of research at Pepperstone. The single currency was up 0.04% to $1.0804, while the pound was last at $1.2599, up 0.17% on the day. The Australian dollar rose 0.55% to $0.644, while the New Zealand dollar gained 0.32% versus the greenback to $0.592.

Persons: Jerome Powell, Powell, Chris Weston, Weston, Rodrigo Catril Organizations: Fed, National Australia Bank, Bank of Japan, New Zealand Locations: Chicago, U.S, Japan

"We're going to see our first rise in headline inflation after 12 consecutive months of falling prices," said Ben Laidler, global markets strategist at eToro. The pan-European benchmark STOXX 600 (.STOXX) rose 0.5%, supported by gains in the luxury sector (.STXLUXP) after China lifted a ban on group tours in the United States and other key markets. In currency markets, the dollar index , which measures the U.S. currency against six peers, eased 0.4%. "We've got $1 trillion coming down the pipe over the next three months," eToro's Laidler said. "Any sign that markets are absorbing that well, which we got the first signs of yesterday, will be very well taken."

Persons: Ben Laidler, Laidler, Germany's DAX, Rodrigo Catril, We've, eToro's Laidler, Bond, Brent, Samuel Indyk, Ankur Banerjee, Edwina Gibbs, Sam Holmes, Susan Fenton, Alexandra Hudson Organizations: Silicon Valley Bank, Credit Suisse, Reuters, CAC, FTSE, Wall, National Australia Bank, U.S, Treasury, Alexandra Hudson Our, Thomson Locations: Frankfurt, Silicon, China, United States, Europe's, Europe, CHINA, U.S, Asia, Pacific, Japan, Beijing, Saudi Arabia, Russia

☆ Asian shares slip on China worries; U.S. inflation figures awaited
▼ + stars: | 2023-08-10 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

REUTERS/Kim Kyung-HoonSINGAPORE, Aug 10 (Reuters) - Asian stocks lost ground on Thursday, still hurting from China's slip into deflation, with investors particularly cautious ahead of a crucial U.S. inflation report that will likely influence the Federal Reserve's monetary policy path. The announcement of a U.S. ban on investments in sensitive technologies in the world's second-largest economy also weighed on sentiment. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.33% and it looked set to log a second straight week of losses. China is the first G20 economy to report a year-on-year decline in consumer prices since Japan's last negative headline CPI reading in August 2021. Investors have also been unwilling to place major bets this week ahead of a U.S. inflation report due later on Thursday.

Persons: Kim Kyung, Hong, HSI, Rodrigo Catril, Joe Biden, Brent, Ankur Banerjee, Edwina Gibbs Organizations: Yen, REUTERS, Hoon, Federal, Japan's Nikkei, National Australia Bank, Wednesday, Saxo Markets, U.S, CPI, Reuters, Treasury, Thomson Locations: Tokyo, Japan, Hoon SINGAPORE, U.S, Asia, Pacific, Shanghai, China, Beijing, Saudi, Russian

☆ Dollar shaky after U.S. credit rating downgrade
▼ + stars: | 2023-08-02 | by ( ) www.cnbc.com time to read: +3 min

The dollar struggled to make headway on Wednesday after a cut on the U.S. government's top credit rating by Fitch raised questions about the country's fiscal outlook, though it drew some support from a relatively resilient run of economic data. "We don't think the Fitch decision is that material. Elsewhere, the Japanese yen was roughly 0.1% stronger at 143.21 per dollar, paring some of its gains from earlier in the morning. "I think the market is still trying to get their head around what this whole thing means," said NAB's Catril. The New Zealand dollar fell 0.23% to $0.6136, after data on Wednesday showed the country's jobless rate hit a two-year high in the second quarter.

Persons: Fitch, Sterling, we've, Rodrigo Catril, NAB's Catril, Matt Simpson Organizations: AAA, White, U.S, Fitch, National Australia Bank, NAB, Bank of Japan's, Reserve Bank of Australia, Index, New Zealand Locations: States

☆ Dollar shaky after US credit rating downgrade
▼ + stars: | 2023-08-02 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

U.S. Dollar banknote is seen in this illustration taken July 17, 2022. "We don't think the Fitch decision is that material. Elsewhere, the Japanese yen was roughly 0.1% stronger at 143.21 per dollar, paring some of its gains from earlier in the morning. "I think the market is still trying to get their head around what this whole thing means," said NAB's Catril. The New Zealand dollar fell 0.23% to $0.6136, after data on Wednesday showed the country's jobless rate hit a two-year high in the second quarter.

Persons: Dado Ruvic, Fitch, Sterling, we've, Rodrigo Catril, NAB's Catril, Matt Simpson, Rae Wee, Shri Navaratnam Organizations: REUTERS, AAA, White, U.S, Fitch, National Australia Bank, NAB, Bank of Japan's, Reserve Bank of Australia, Index, New Zealand, Thomson Locations: SINGAPORE, States

☆ Yen advances on BOJ policy tweak speculation, dollar steady
▼ + stars: | 2023-07-28 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

The Nikkei newspaper reported the central bank will maintain its 0.5% cap for the 10-year government bond yield, but discuss allowing long-term interest rates to rise above that level by a certain degree. The Japanese yen strengthened as much as 0.55% to 138.72 per dollar before losing steam to trade at 139.37 on Friday. The BOJ last December stunned the market by widening the yield band and allowing the 10-year yield to rise by up to 0.5%. The story so far has been of policymakers sticking to expectations with the Federal Reserve and the European Central Bank hiking by 25 basis point each earlier in the week. Against a basket of currencies, the dollar shot up 0.059% at 101.74, having risen 0.66% overnight.

Persons: Carol Kong, Christine Lagarde, Lagarde, Jerome Powell, Rodrigo Catril, Ankur Banerjee, Sam Holmes Organizations: Bank of Japan, Nikkei, Commonwealth Bank of Australia, Federal Reserve, European Central Bank, ECB, Fed, National Australia Bank . Data, Labor Department, Thomson Locations: SINGAPORE, U.S, Singapore

☆ Euro staggers as traders wary of hawkish ECB; dollar gains
▼ + stars: | 2023-07-25 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

SINGAPORE, July 25 (Reuters) - The euro hit a two-week low on Tuesday as a worsening downturn in euro zone business muddied the bloc's rate outlook against a still-hawkish European Central Bank (ECB), while the dollar rose ahead of this week's trio of major central bank meetings. The offshore yuan strengthened in early Asia trade, following comments from China's top leaders on Monday pledging to step up policy support for its flailing economy. Elsewhere, sterling fell 0.11% to $1.2811, while the U.S. dollar index steadied at 101.39. "We continue to expect a combination of monetary, fiscal, property and consumption support measures to be rolled out in the next few months." The Australian dollar , often used as a liquid proxy for the yuan, gained 0.18% to $0.67515, while the kiwi rose 0.06% to $0.6209.

Persons: Rodrigo Catril, Guillermo Felices, Goldman Sachs, Rae Wee, Shri Navaratnam Organizations: Central Bank, ECB, National Australia Bank, NAB, U.S, PMI, Federal Reserve, Reuters, Bank of Japan, Australian, Thomson Locations: SINGAPORE, Asia, Germany

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