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☆ Sterling hits fresh multi-month lows on dollar and euro
▼ + stars: | 2023-09-25 | by ( Alun John | ) www.reuters.com time to read: +2 min

Pound Sterling notes and change are seen inside a cash resgister in a coffee shop in Manchester, Britain, Septem,ber 21, 2018. Sterling, on Monday, dropped as much as 0.25% to $1.2213 its lowest since March 2023, though later steadied to trade flat on the day at $1.2242. The euro on Monday briefly touched 87.03 pence, its highest since May, and was last flat a touch below that level. "What we’re seeing today is the Chinese real estate worries bleeding into the European session, weighing on equity markets and then on the euro and sterling," said Nick Rees, FX market analyst at Monex Europe. "That builds on what happened last week with the Bank of England," said Rees, "Markets are now thinking about what the Bank is seeing in the economy."

Persons: Pound Sterling, ber, Phil Noble, BOE, Liz, Nick Rees, Rees, Alun John, Alex Richardson Organizations: REUTERS, Bank of, Bank of England, European Central Bank, Federal Reserve, FX, Monex, Global, China, HK, Thomson Locations: Manchester, Britain

☆ Yen falls to fresh 11-month low against dollar, focus on intervention risks
▼ + stars: | 2023-09-25 | by ( Joice Alves | ) 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. REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsLONDON, Sept 25 (Reuters) - The dollar rose against the yen to an almost 11-month high on Monday following last week's gains, keeping traders focused on Japan intervention risks. The Japanese currency remained within striking distance of 150, a level which some market watchers saw as a line in the sand that would spur forex intervention from Japanese authorities similar to that of last year. A yen overshooting would be seen by many as a catalyst for renewed interventions to strengthen the Japanese currency, similarly to last year, she added. EURO FACES GROWTH FEARSThe euro edged 0.1% lower to $1.0633, moving towards a six-month low of $1.0615 touched on Friday against a stronger dollar.

Persons: Florence Lo, Kazuo Ueda, Esther Reichelt, Nick Rees, we've, Reichelt, Francois Villeroy de Galhau, Sterling, Joice Alves, Alun John, Ed Osmond, Bernadette Baum Organizations: U.S, REUTERS, Commerzbank, Federal Reserve, FX, Monex, SBB, European Central Bank, Bank, Thomson Locations: Japan, Swedish, Monex Europe, London

☆ Dollar set for fourth week of gains, inflation cements rate outlook
▼ + stars: | 2023-08-11 | by ( Amanda Cooper | ) www.reuters.com time to read: +3 min

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. The pound was last up 0.3% at $1.2711, but was still heading for a fourth weekly drop. Data on Thursday showed U.S. consumer inflation rose 0.2% last month, matching the gain in June, and by 3.2% in the 12 months through July. The dollar index , which measures the U.S. currency against six others, fell 0.1% to 102.50, but was still set for a fourth weekly gain, thanks in part to a rise in Treasury yields. The dollar fell against the euro , which rose 0.1% to $1.0995 and against the Australian dollar , which rose 0.14% to $0652.

Persons: Florence Lo, Moh Siong Sim, Nick Rees, Mary Daly, Ankur Banerjee, Shri Navaratnam, Simon Cameron, Moore, David Evans Organizations: U.S, REUTERS, Federal, Bank of Japan, Singapore, Ministry of Finance, Reuters, CPI, FX, Monex, San Francisco Fed, Thomson Locations: Japan, Monex Europe, U.S, Singapore

That threw a new curveball at UK markets, as just last week economists polled by Reuters had unanimously expected the BoE to raise by 25 basis points. I would not be surprised if we see a 50-bp rate rise from the Bank of England tomorrow." Other analysts said delivering a larger rate rise on Thursday risked further undermining the BoE's messaging. Bets on where BoE rate hikes might peak rose as high as 6% on Wednesday. The rise in yields hit UK housebuilders (.FTNMX402020), which were down as much as 3.1%.

Persons: BoE, Melanie Baker, Liz, Nick Rees, Richard McGuire, Rabobank's McGuire, Yoruk Bahceli, William Schomberg, Dhara Ranasinghe, Danilo Masoni, Alun John, Peter Graff Organizations: Bank of England, Reuters, Royal London Asset Management, Reuters Graphics Reuters, Wednesday's, MPC, FX, Monex, Rabobank, Sterling, Thomson Locations: Monex Europe

☆ Shares rise, dollar weakens on bank sector fears
▼ + stars: | 2023-05-05 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

SINGAPORE, May 5 (Reuters) - Asian stocks rose, the dollar eased and gold hovered around its record highs on Friday, as jittery investors remained nervous about the U.S. banking sector following another rout in shares of regional lenders. Wall Street ended lower on Thursday after Los Angeles-based PacWest Bancorp's (PACW.O) move to explore strategic options deepened fears about the health of U.S. lenders as pressure grows on regulators to take more steps to shore up the country's banking sector. Shares of U.S. regional banks sank this week in the wake of the collapse of First Republic Bank over the weekend that has brought back fears of a financial sector crisis. The Federal Reserve on Wednesday raised interest rates by 25 basis points, but hinted that its marathon hiking cycle may be ending. China shares (.SSEC) rose 0.21%, while Hong Kong's Hang Seng index (.HSI) was up 0.6%, helping lift the region's shares.

EURNOK and inflationGoldman Sachs and UBS said that the rising cost of borrowing would likely support the Norwegian crown. But those daily sales are well down from the 4.3 billion crowns per day the central bank sold in October. "Any budget surplus that was generated from the commodity exports was basically being neutralized by the Norges bank," said Simon Harvey, head of FX analysis at Monex. Much of the crown's fate could also depend on what the U.S. central bank does. If the Fed stops hiking rates, this would likely boost global equities, which have a strong positive correlation to the Norwegian crown.

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