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Search resuls for: "Wells Fargo's Nelson"


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"The GDP data helped the dollar a little bit. "So if we're seeing some strength on the cyclical side of the economy, then that could be challenging the rate cut narrative a little bit." U.S. rate futures, however, increased bets of a rate cut starting in March, following the GDP data, to a nearly 50% chance of easing, compared with nearly 35% late on Tuesday, the CME's FedWatch tool showed. Comments by Fed Governor Christopher Waller flagging a possible rate cut in the months ahead sent U.S. bond yields and the dollar sliding on Tuesday. China's onshore yuan finished the domestic session at 7.1246 per dollar, the strongest closing price since June 16.
Persons: Erik F, Christopher Waller, Wells Fargo's Nelson Organizations: US, Swiss, New Zealand, U.S . Commerce Department, Reuters, New, Reserve Bank of New Zealand Locations: Swedish, Hamburg, Germany, U.S, Wells Fargo, London, Europe's, Spain
The dollar, on the other hand, continued its march higher against a beleaguered yen, hitting a fresh 32-year peak of 148.86. Japanese Finance Minister Shunichi Suzuki on Thursday reiterated the government's readiness to take steps against excessive currency volatility. Register now for FREE unlimited access to Reuters.com RegisterJapan last month intervened to buy yen for the first time since 1998. The pound, meanwhile, fell for a second straight day against the dollar, last traded at $1.1167, down 1.4% . U.S. retail sales were unexpectedly unchanged in September as stubbornly high inflation and rapidly rising interest rates crimp demand for goods.
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