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☆ Yen poised for best week in over a year; dollar waits on U.S. jobs data
▼ + stars: | 2024-05-03 | by ( ) www.cnbc.com time to read: +3 min

Elsewhere, the dollar lost ground against most of its peers and was headed for its worst week in nearly two months, in part due to the sharp rise in the yen this week. The euro ticked up 0.05% to last trade at $1.0730, and was eyeing a weekly gain of 0.35%. "Recent Fed speech has acknowledged the lack of progress on inflation and the desire to maintain the current level of policy rates for longer. Down Under, the Australian dollar edged 0.07% higher to $0.6570, and was on track to gain nearly 0.6% for the week. The New Zealand dollar tacked on a marginal 0.03% to $0.5963, and was eyeing a 0.4% weekly gain.

Persons: Tokyo's, Vishnu Varathan, Jerome Powell, Sterling steadied, Tai Hui Organizations: Traders, Bank of Japan, Ministry of Finance, Mizuho Bank, Federal, Fed, Morgan Asset Management, New Zealand Locations: Asia, tenterhooks, Tokyo, Japan

☆ Dollar a spectator to China news, yen ponders rate risks
▼ + stars: | 2024-03-05 | by ( ) www.cnbc.com time to read: +3 min

There was more action in bitcoin , which gained 1.2% to $68,341 after surging more than 7% on Monday. The Japanese yen held steady after data showed Tokyo core inflation sped up to 2.5% in February, from 1.8% the previous month. "Accordingly, we're sticking to our forecast that the Bank of Japan will hike interest rates into positive territory next month." The dollar was a fraction lower at 150.44 yen , having again shied away from resistance around 150.85, which has capped the currency for more than three months now. The European Central Bank, or ECB, holds a meeting on Thursday and markets are convinced it will keep rates at 4.0%.

Persons: Marcel Thieliant, Jerome Powell, Sterling, Jeremy Hunt Organizations: People's Congress, Bank of Japan's, Capital Economics, Bank of, Federal Reserve, European Central Bank, ECB, Westpac, . Finance Locations: China, Tokyo, Japan, bitcoin, United States, Beijing, Asia, Bank of Japan

☆ Sliding yen stokes intervention threat; dollar reigns
▼ + stars: | 2023-09-25 | 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. "I don't think the level matters that much and will be the trigger (for intervention). Yellen said last week whether Washington would show understanding over another yen-buying intervention by Japan "depends on the details" of the situation. Elsewhere, the euro gained 0.04% to $1.0649, after having fallen to a six-month low of $1.0615 on Friday against a stronger dollar. The dollar index , which on Friday touched an over six-month high, firmed at 105.57 in early Asia trade.

Persons: Florence Lo, Kazuo Ueda, Governor Ueda, Carol Kong, Janet, Yellen, Sterling steadied, Thierry Wizman, Rae Wee Organizations: U.S, REUTERS, Rights, Bank of Japan, Reserve, Commonwealth Bank of Australia, Treasury, Bank, Fed, New Zealand, Thomson Locations: Rights SINGAPORE, Washington, Japan, U.S, Asia

☆ Sliding yen stokes intervention threat, dollar reigns
▼ + stars: | 2023-09-25 | by ( ) www.cnbc.com time to read: +3 min

An employee counts Japanese 10,000 yen banknotes at the Birdy Exchange in Hong Kong, China. Several factors were supporting the recovery in the Japanese yen on Tuesday. Yellen said last week whether Washington would show understanding over another yen-buying intervention by Japan "depends on the details" of the situation. Elsewhere, the euro gained 0.04% to $1.0649, after having fallen to a six-month low of $1.0615 on Friday against a stronger dollar. The dollar index , which on Friday touched an over six-month high, firmed at 105.57 in early Asia trade.

Persons: Kazuo Ueda, Governor Ueda, Carol Kong, Janet, Yellen, Sterling steadied, Thierry Wizman Organizations: Birdy, Bank of Japan, Reserve, Commonwealth Bank of Australia, U.S, Treasury, Bank, Fed, New Zealand Locations: Hong Kong, China, Washington, Japan, U.S, Asia

☆ Yen stands tall, dollar finds floor ahead of U.S. inflation
▼ + stars: | 2023-09-12 | by ( ) www.cnbc.com time to read: +3 min

Photo taken on April 20, 2022 shows the Japanese yen and U.S. dollar banknotes in Tokyo, Japan. The Japanese currency was last marginally lower at 146.61 per dollar, after scaling a one-week top of 145.91 in the previous session. Elsewhere, the U.S. dollar reversed some of its close to 0.5% loss against a basket of currencies on Monday. The U.S. dollar index, which ended last week with an eight-week winning streak, rose 0.03% to 104.60, after falling 0.46% in the previous session. The offshore yuan found some support near Monday's one-week high and last bought 7.3020 per dollar.

Persons: Kazuo Ueda, Ueda, Chris Weston, we've, Tony Sycamore, Sterling steadied, bitcoin, Ether, Kyle Rodda Organizations: U.S, Bank of Japan, Federal Reserve, New Zealand, Fed Locations: Tokyo, Japan, United States, U.S, Tony Sycamore ., Monday's, China

☆ Yen stands tall, dollar finds floor ahead of US inflation
▼ + stars: | 2023-09-12 | by ( Rae Wee | ) 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 Japanese currency was last marginally lower at 146.61 per dollar, after scaling a one-week top of 145.91 in the previous session. Elsewhere, the U.S. dollar reversed some of its close to 0.5% loss against a basket of currencies on Monday. The U.S. dollar index , which ended last week with an eight-week winning streak, rose 0.03% to 104.60, after falling 0.46% in the previous session. The offshore yuan found some support near Monday's one-week high and last bought 7.3020 per dollar.

Persons: Florence Lo, Kazuo Ueda, Ueda, Chris Weston, we've, Tony Sycamore, Sterling steadied, bitcoin, Ether, Kyle Rodda, Rae Wee, Sam Holmes Organizations: U.S, REUTERS, Rights, Bank of Japan, Federal Reserve, New Zealand, Fed, Capital.com, Thomson Locations: Rights SINGAPORE, United States, U.S, Tony Sycamore ., Monday's, China

☆ Dollar slips as Fed's rate-hike cycle seen ending
▼ + stars: | 2023-07-27 | by ( ) www.cnbc.com time to read: +3 min

A foreign currency dealer counts US dollar notes at a currency market in Karachi on July 19, 2022. While Fed Chair Jerome Powell left the door open to another hike in September, traders were unconvinced, sending the U.S. dollar broadly lower. Sterling steadied at $1.2935, having eked out a slight gain against the dollar in the previous session. A dovish pivot from the Fed will likely exert a downward pressure on the U.S. dollar in the medium term." BOJ Governor Kazuo Ueda was quoted as saying at a key government meeting on Wednesday that the central bank will maintain accommodative monetary conditions for companies.

Persons: Jerome Powell, Sterling steadied, Emin Hajiyev, Nadia Gharbi, Kazuo Ueda, Jarrod Kerr Organizations: Federal Reserve, Fed, U.S, Insight Investment, ECB, Pictet Wealth Management, Bank, Australian, Reserve Bank of Australia, Communist Party Locations: Karachi, U.S

The yuan firmed by more than 0.5% in both the onshore and offshore markets as investors cheered comments at the closely watched Politburo meeting, though many were still seeking specific details on greater stimulus measures. The yuan traded offshore was last at 7.1444 per dollar and in the onshore market it was at 7.1454 per dollar. Also propping up the yuan were China's major state-owned banks selling U.S. dollars to buy yuan in both onshore and offshore spot markets on Tuesday, sources told Reuters. The positive sentiment from China lifted the Australian dollar, often used as a liquid proxy for the yuan, which rose 0.4% to $0.6767. In Europe, the pound rose 0.22% to $1.2854, its first day of gains after seven straight sessions of losses, its longest such streak since March 2020.

Persons: Tommy Xie, Guillermo Felices, Ueda, Aninda Mitra, Rae Wee, Alun John, Shri Navaratnam, Lincoln, Christina Fincher Organizations: Reuters, European Central Bank, Federal Reserve, Bank of Japan, BNY Mellon Investment Management, Thomson Locations: SINGAPORE, LONDON, China, Europe, Asia, Singapore, London

☆ Dollar firms as investors brace for higher-for-longer rates scenario
▼ + stars: | 2023-02-23 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

However, they also indicated curbing unacceptably high inflation would be the "key factor" in how much further rates need to rise. The dollar paused its ascent on Thursday after gaining broadly on the back of the release. "The meeting minutes were pretty much within expectations ... the markets are now pricing for higher-for-longer rates," said Tina Teng, market analyst at CMC Markets. "The resilience (of the U.S. economy) prompts the Fed to keep raising interest rates ... pushing up the U.S. Against a basket of currencies, the U.S. dollar index stood at 104.50, and was attempting to break a more than one-month peak of 104.67 hit last week.

☆ Plunging pound pauses as investors await policy response
▼ + stars: | 2022-09-27 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

On Friday and again on Monday the pound plunged, finding a record low of $1.0327 as investors question Britain's economic gambit of unfunded tax cuts to spur growth. Sterling has dropped 5% since Thursday and 21% this year against a backdrop of an ever stronger dollar. As the pound fell on Monday, the dollar surged to new highs on the euro and many more. "Everyone's got this hope that the dollar is peaking and peaking and peaking, but it's just been far too premature," said Paul Mackel, global head of FX research at HSBC in Hong Kong. China's yuan also hit a 2-1/2 year low on Monday and was steady at 7.1639 on Tuesday.

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