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☆ Morning Bid: Yen back near 150 as intervention chatter swirls
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +2 min

Tokyo has not confirmed any such move to support the yen , with both Japan's finance minister and its top currency diplomat making no direct comment. Tokyo last intervened to buy yen in September and October last year, when the currency eventually slumped to a 32-year low of 151.94 per dollar. In Asian hours, the yen was back just below the 150 mark and last at 149.27 per dollar. They continue to sell bonds, sending yields higher with the 10-year Treasury yield at a fresh 16 year peak. The benchmark 10-year Japanese government bond yield also clung to a 10-year high.

Persons: Kim Kyung, Ankur Banerjee, Kevin McCarthy, Edmund Klamann Organizations: National Printing Bureau, Bank of Japan, REUTERS, Ankur, Reuters, U.S . House, Ofcom, Labs, Thomson Locations: Tokyo, Japan, United States, U.S, Germany, France, Italy

[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. "It has all the hallmarks of intervention in all honesty," said Michael Brown, market analyst at Trader X in London. The dollar fell 0.71% to 149.165 yen hovered near break-even against the euro . The yen is a particular casualty of the dollar's march to 10-month highs and the rise in Treasury yields, given a yawning gap between U.S. and Japanese interest rates. Gold prices languished near a seven-month low, weighed down by a robust dollar and elevated bond yields as the likelihood of U.S. rates staying higher for longer dominated sentiment.

Persons: Brendan McDermid, Michael Brown, Ronald Temple, Raphael Bostic, Bostic, Shunichi Suzuki, Suzuki, Brent, Ankur Banerjee, Jamie Freed, Susan Fenton, Jan Harvey, Deepa Babington, Cynthia Osterman Organizations: New York Stock Exchange, REUTERS, Global, Federal Reserve, Trader, Labor, Survey, Lazard, U.S, Dow Jones, Nasdaq, Atlanta Fed, Thomson Locations: New York City, U.S, London, New York, Japan, Singapore

☆ Asian stocks slip on rate worries, yen in focus
▼ + stars: | 2023-10-03 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

U.S. Federal Reserve officials said that monetary policy will need to stay restrictive for "some time" to bring inflation back down to the Fed's 2% target. Still, the hawkish rhetoric from the Fed officials comes as an ongoing debate over another possible rate hike this year rages on. "If it were down to us, we would wait for another month of rising inflation and the third-quarter inflation numbers. The yen was last at 149.83 per U.S. dollar in Asian hours, having scaled a fresh near 12-month low of 149.895 earlier in the session. The dollar index , which measures the U.S currency against six major rivals, rose 0.093% to scale a fresh 10-month peak.

Persons: Hong, Michelle Bowman, Rob Carnell, Shunichi Suzuki, Brent, Ankur Banerjee, Jamie Freed Organizations: Federal Reserve, Japan's Nikkei, . Federal, Fed, Reserve Bank of, Reuters, ING, Japanese Finance, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, Reserve Bank of Australia

☆ Global stock index gains while Treasury yields, dollar dip after inflation data
▼ + stars: | 2023-09-29 | by ( Sinéad Carew | ) www.reuters.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. "The big fear has been that we may not be at peak interest rates and that we may still be grappling with inflation. "The result is that interest rates are down across the U.S. Treasury yield curve. U.S. Treasury yields slid after the inflation reading with benchmark 10-year notes down 7.1 basis points to 4.526%, from 4.597% late on Thursday. Earlier it had ticked higher with help from the retreating dollar and Treasury yields after the inflation data, but bullion was still on track for monthly and quarterly declines on prospects of higher U.S. interest rates.

Persons: Brendan McDermid, Brian Levitt, Sterling, Brent, Sinéad Carew, Naomi Rovnick, Ankur Banerjee, Alexander Smith, Anil D'Silva, Barbara Lewis, Andrew Heavens Organizations: New York Stock Exchange, REUTERS, Treasury, Federal, U.S, Traders, Dow Jones, Nasdaq, Thomson Locations: New York City, U.S, Europe, United, China, New York, London, Singapore

☆ Asian stocks inch away from 10-month low, rate jitters linger
▼ + stars: | 2023-09-29 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

A passerby walks past an electric monitor displaying various countries' stock price index outside a bank in Tokyo, Japan, March 22, 2023. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.59% higher but not far off the 10-month low it touched on Thursday. The index is set for 5% drop in the July-September period, its worst quarterly performance since a 13.6% drop in the same period last year. In foreign exchange market, the dollar index eased 0.057% to 106.10 but hovered near the 10 month high of 106.84 it touched earlier this week. The index is up 2.4% this month and set for second straight month of gains.

Persons: Issei Kato, Australia's, Jerome, Powell, Ryan Brandham, Thomas Barkin, Brent, Ankur Banerjee, Lincoln Organizations: REUTERS, Rights, Japan's Nikkei, China Evergrande, HK, Validus Risk, Federal, Federal Reserve Bank of Richmond, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, Asia, Pacific, China, U.S, North America, Russia, Saudi Arabia, Singapore

☆ Morning Bid: Rate jitters wear down wary markets
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +3 min

Asian markets were under pressure as the day progressed, with MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) sliding to its lowest in 10 months. Futures indicate the sombre mood is likely to continue as Europe wakes, with markets there due to open lower. Congress has shut down the government 14 times since 1981, though most of those funding gaps lasted only a day or two. Meanwhile, tech stocks are likely to be in the spotlight after a long-awaited antitrust lawsuit against Amazon.com (AMZN.O) from the U.S. Federal Trade Commission was filed on Tuesday. It also said the popular game has reached $20 billion in revenue since its 2012 launch.

Persons: Treasuries, Candy Crush, King, Ankur Banerjee, Edmund Klamann Organizations: Ankur, Treasury, Nikkei, Republicans, Congress, China Evergrande, HK, Bloomberg, Amazon.com, U.S . Federal Trade Commission, FTC, Big Tech, Microsoft, Wall Street, Reuters, Thomson Locations: U.S, Asia, Pacific, Japan, Europe, Swiss

☆ Stock futures are little changed ahead of Fed policy meeting: Live updates
▼ + stars: | 2023-09-18 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Traders work on the floor of the New York Stock Exchange (NYSE), July 26, 2023. Stock futures were flat in overnight trading Monday as Wall Street readied for the start of the Federal Reserve's two-day September policy meeting. Futures tied to the Dow Jones Industrial Average added 16 points, or 0.04%, while S&P 500 futures and Nasdaq 100 futures inched up 0.06% and 0.08%, respectively. "China, that was supposed to work and supposed to come out of Covid … the U.S. consumer is showing signs of a little bit more pressure. The Fed is not expected to raise rates this month, with traders pricing in a 99% probability that the central bank skips a hike, according to CME Group's FedWatch tool, a gauge of pricing in fed funds futures.

Persons: we've, Ankur Crawford, Alger, Covid, that's Organizations: New York Stock Exchange, Stock, Federal, Dow Jones, Nasdaq, Dow Locations: China

☆ Watch CNBC’s full interview with Ankur Crawford and Keith Lerner
▼ + stars: | 2023-09-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Ankur Crawford and Keith LernerAnkur Crawford, Alger, and Truist's Keith Lerner, join 'Closing Bell' to discuss their big cap tech outlook, growth elusiveness and investing in a choppy market.

Persons: Ankur Crawford, Keith Lerner Ankur Crawford, Alger, Truist's Keith Lerner

☆ Morning Bid: Apple and dollar roil markets
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +3 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 24, 2023. The broader U.S. tech sector also took a hit, while shares of several major Apple suppliers in Asia slid on Friday. Against a basket of currencies, the dollar is set to clock an eighth straight week of gains. A Reuters poll of forex strategists suggests that the dollar's strength will be difficult to overcome for most major currencies by the end of the year. The pan-European STOXX 600 index (.STOXX) has fallen for seven straight days, its worst string of losses since February 2018.

Persons: Ankur Banerjee, presales, Kim Coghill Organizations: REUTERS, Staff, Ankur, Apple, Huawei Technologies, U.S, Casino, Reuters, Thomson Locations: Frankfurt, Germany, China, Asia, Paris

[1/2] A view shows packets of snacks on the shelves inside a Haldiram's restaurant in Mumbai, India, September 6, 2023. Tata Consumer shares surged and closed nearly 4% higher in Mumbai trade after Reuters reported news of the talks. The potential acquisition represents an exciting opportunity for Tata, the person said, adding: "Tata (Consumer) is seen as a tea company. A spokesperson for Tata Consumer Products said it "does not comment on market speculation". The $10 billion valuation sought by Haldiram's for the deal translates to 6.6 times its annual revenue of $1.5 billion, sources said.

Persons: Sriram, Tata, Mukesh Ambani's, Tetley, Haldiram's, Krishan Kumar Chutani, Bain, Ankur Bisen, Manohar Lal Agrawal, Aditya Kalra, Chris Thomas, Edwina Gibbs, Alexandra Hudson Organizations: REUTERS, India Tata, Tata, Pepsi, Bain Capital, Tata Consumer Products, Starbucks, Tata Consumer, Reuters, Haldiram's, Euromonitor International, Tata Group, CNBC TV18, Bikaji Foods, Alexandra Hudson Our, Thomson Locations: Mumbai, India, MUMBAI, DELHI, Singapore, United States, Bikaji

☆ Dollar rises to six-month high after US data; weak yen prompts warning
▼ + stars: | 2023-09-06 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com time to read: +4 min

The greenback recovered against most currencies after the data, with the euro and sterling hitting three-month lows and the yen touching session troughs. The euro and sterling fell to three-month lows after the data and were last flat at $1.0726 and down 0.5% at $1.2505 , respectively. Data showed the Institute for Supply Management (ISM)'s non-manufacturing PMI rose to 54.5 last month, the highest since February and up from 52.7 in July. Against the yen, the dollar trimmed losses, last down little changed at 147.69 yen. The dollar showed little reaction to the report.

Persons: Dado Ruvic, Helen, Susan Collins, Christopher Waller, Waller, Masato Kanda, Gertrude Chavez, Dreyfuss, Samuel Indyk, Ankur Banerjee, Savio D'Souza, Alexandra Hudson, Josie Kao Organizations: REUTERS, Institute for Supply Management, Reuters, Monex USA, Federal, Fed, Boston, CNBC, Ministry of Finance, Thomson Locations: Washington, U.S, Kanda, London, Singapore

☆ Stocks decline, Treasury yields jump as investors weigh rate outlook
▼ + stars: | 2023-09-05 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. The Dow led declines among the three major stock indexes on Wall Street, even as higher oil lifted shares of some energy companies. Oil prices rose to their highest since November after Saudi Arabia and Russia extended their voluntary supply cuts to the end of the year. The pan-European STOXX 600 index (.STOXX) lost 0.23% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) shed 0.60%. Brent crude futures rose by $1.04, or 1.2%, to settle at $90.04 a barrel, while U.S. crude futures gained $1.14, or 1.3%, to settle at $86.69 a barrel.

Persons: Brendan McDermid, Paul Nolte, Murphy, Christopher Waller, Dow, Caroline Valetkevitch, Sinead Carew, Samuel Indyk, Ankur Banerjee, Shounak Dasgupta, Mike Harrison, Lincoln Organizations: New York Stock Exchange, REUTERS, U.S, Sylvest Wealth Management, Investors, Fed, Dow Jones, Nasdaq, Brent, Thomson Locations: New York City, U.S, China, Europe, Britain, Elmhurst , Illinois, Saudi Arabia, Russia, New York, London

☆ Stocks decline as yields, dollar rise amid global demand worries
▼ + stars: | 2023-09-05 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

[1/2] The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. Also, U.S. benchmark Treasury yields jumped, while the Aussia dollar fell after the Reserve Bank of Australia kept rates steady. "Worries are on the rise about a China and Europe-led slowdown in global growth. The U.S. dollar index was up 0.5% at 104.69. Wall Street stocks dipped with growth stocks as Treasury yields rose.

Persons: Toby Melville, Joe Manimbo, Christopher Waller, Brent, Caroline Valetkevitch, Saqib Iqbal Ahmed, Samuel Indyk, Ankur Banerjee, Stephen Coates, Kim Coghill, Christina Fincher, Shounak Dasgupta, Mike Harrison Organizations: London Stock Exchange Group, City of, REUTERS, U.S, Treasury, Reserve Bank of, The U.S, Wall, Dow Jones, Nasdaq, Federal Reserve, Fed, Labor, Thomson Locations: City, City of London, Britain, China, Europe, U.S, Reserve Bank of Australia, Washington, The, New York, London

☆ Dollar eases as risk appetite improves on China's measures
▼ + stars: | 2023-09-04 | by ( Joice Alves | ) www.reuters.com time to read: +4 min

[1/2] U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. The China-sensitive euro was up 0.25% at $1.0799, just off a 10-week low touched last week against the dollar. The Australian dollar and the New Zealand dollar also got a lift from those measures. "The U.S. dollar is softening against most other G10 currencies today as risk appetite improves on the back of China support measures," said Jane Foley, head of FX strategy at Rabobank. The Canadian dollar slipped 0.07% to 1.359 per dollar ahead of the Bank of Canada's policy meeting this week, with the central bank expected to hold rates.

Persons: Dado Ruvic, Jane Foley, Christine Lagarde, Isabel Schnabel, Foley, Jeremy Hunt, Sterling, Joice Alves, Ankur Banerjee, Sharon Singleton, Christina Fincher Organizations: REUTERS, U.S, Australian, New Zealand, Rabobank, European Central Bank, ECB, FOCUS, Reserve Bank of Australia, Canadian, Bank of, Thomson Locations: China, Beijing, FOCUS British, U.S, London, Singapore

On Wednesday, European shares nudged higher (.STOXX), while a gauge of Asian shares gained 0.35% (.MIAPJ0000PUS) and Japan's blue-chip Nikkei touched its highest in over two weeks (.N225). Spanish inflation rose 2.6% in August, as economists polled by Reuters had expected. Economists polled by Reuters expect the headline euro zone inflation rate to have moderated to 5.1% in August from 5.3% in July, still far above the European Central Bank's (ECB) 2% goal. Euro zone inflation has exceeded the target level for two years. Germany's two-year yield rose 7 bps to 3.099% after regional Germany inflation data.

Persons: Issei Kato, SEB, Elisabet Kopelman, Jerome Powell's, Europe's, Sylvia Ardagna, Ardagna, Germany's, Brent, Ankur Banerjee, Naomi Rovnick, Dhara Ranasinghe, Mark Potter Organizations: REUTERS, Nikkei, SEB Group, Fed, Reuters, Bank's, Barclays, ECB, Treasury, Thomson Locations: Tokyo, Japan, SINGAPORE, Asia, Spain, Germany, North Rhine Westphalia, Germany's

☆ Asian shares hit two-week high on prospects for Fed pause
▼ + stars: | 2023-08-30 | by ( Ankur Banerjee | ) www.reuters.com time to read: +5 min

The index though is down about 6% so far in August and set for its worst monthly performance since February. The Eurostoxx 50 futures rose 0.39%, German DAX futures were up 0.29% and FTSE futures were up 0.31%. Overnight, Wall Street ended sharply higher, while Treasury yields slid to three-week lows after data showed U.S. job openings dropped to the lowest in nearly 2-1/2 years in July, signalling easing labour market pressures. With the Fed highlighting that the interest rate path will be heavily dependent on data, traders are tweaking their bets based on the latest indicators. Traders will be closely watching cocoa prices on Wednesday after the London cocoa futures on ICE rose to a 46-year high on Tuesday, buoyed by tightening supplies.

Persons: Issei Kato, DAX, Powell, Tina Teng, Carlos Casanova, Gina Raimondo, Brent, bitcoin, Ankur Banerjee, Edmund Klamann Organizations: REUTERS, Rights, Federal Reserve, Futures, Treasury, CMC Markets, Investors, PMI, . Commerce, Aussie, Traders, Thomson Locations: Tokyo, Japan, Asia, Pacific, Europe, Germany, Spain, China, Wednesday's, UBP, U.S

☆ Morning Bid: US jobs data and China bring cheer, for now
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +3 min

The Fed has made it clear it will be data-dependent as it charts its monetary policy path. European markets look set for a higher open, with the pan-European STOXX 600 (.STOXX) at two-week highs. Inflation reports from Germany and Spain later in the day will provide further clues on price pressures in the region ahead of the euro zone inflation report on Thursday. Traders have raised their bets on a 25-basis-point European Central Bank rate hike in September, a slight shift from expectations of a pause following a sharper-than-expected contraction in euro zone business activity. Australia's inflation slowed to a 17-month low in July, signalling that interest rates might not need to rise again.

Persons: Ankur Banerjee, Biden, Edmund Klamann Organizations: Silicon Valley Bank, Credit Suisse, REUTERS, Staff, Ankur, Federal, Federal Reserve, Traders, Bank, U.S, Bristol Myers Squibb, Novo Nordisk, Pfizer, ICE, Supplies, Reuters, Thomson Locations: Frankfurt, Silicon, Germany, U.S, Europe, Spain, Asia, West Africa, Singapore

☆ Dollar soft as markets brace for data fest; yen under pressure
▼ + stars: | 2023-08-29 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

The dollar index , which measures U.S. currency against six key rivals, eased 0.077% at 103.85, after slipping 0.2% on Monday. The index is up 2% this month as resilient economic data bolstered expectations that interest rates may stay higher for longer. The yen inched up 0.12% to 146.36 per dollar in Asian hours but remained close 146.75, its lowest level since Nov.9. Japan intervened in currency markets last September when the dollar rose past 145 yen, prompting the Ministry of Finance (MOF) to buy the yen and push the pair back to around 140 yen. The Australian dollar added 0.03% to $0.643, while the New Zealand dollar eased 0.02% to $0.591.

Persons: Dado Ruvic, Jerome Powell, Carol Kong, CBA's Kong, Jackson, Chanana, Ueda, Sterling, Ankur Banerjee, Shri Navaratnam Organizations: REUTERS, Rights, U.S, Reuters, Commonwealth Bank of Australia, Ministry of Finance, United, Saxo, Jackson, New Zealand, Thomson Locations: Japan, United States, Tokyo, Singapore

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 steady as Fed's Powell says higher rates may be needed
▼ + stars: | 2023-08-25 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

[1/2] U.S. dollar banknotes are seen in this illustration taken March 10, 2023. The U.S. dollar index - which measures the currency against six major counterparts - was about flat at $104.06 after rising to 104.44, its highest since June 1. Interest rate futures tied to the Fed's policy rate on Friday priced in a more than even chance of tightening at either the November or December policy meetings. On Friday, the euro was 0.01% lower against the dollar at $1.08085. Against the yen , the dollar was up 0.31% to 146.28.

Persons: Dado Ruvic, Jerome Powell, Powell, Karl Schamotta, Ben, Bernanke, Mario, Draghi, Schamotta, bitcoin, Saqib Iqbal Ahmed, Dhara Ranasinghe, Ankur Banerjee, Kirsten Donovan, Christina Fincher, Nick Zieminski, Jonathan Oatis Organizations: REUTERS, U.S, Federal, European Central Bank, Global Research, Reuters, of, Thomson Locations: Jackson Hole , Wyoming, U.S, Toronto, Britain, London, Singapore

☆ Euro knocked by ECB rate pause talk, dollar cautious before Powell
▼ + stars: | 2023-08-25 | by ( Dhara Ranasinghe | ) www.reuters.com time to read: +3 min

[1/2] Euro currency bills are pictured at the Croatian National Bank in Zagreb, Croatia, May 21, 2019. The euro hit its lowest since mid-June at around $1.0766 before drifting higher. The dollar index , which measures the U.S. currency against six others, rose to 104.31, the highest since June 6, but edged lower during London trade. Powell speaks at the Jackson Hole Economic Policy Symposium at 1405 GMT, while ECB chief Christine Lagarde speaks at the same gathering later in the day. Sterling touched its lowest level since June at around $1.2560 before recovering to around $1.2610 to trade just a touch softer on the day.

Persons: Antonio Bronic, Fed's Powell, Jerome Powell, Powell, Christine Lagarde, Jeremy Stretch, Sterling, Marc Chandler, Dhara Ranasinghe, Ankur Banerjee, Kirsten Donovan, Christina Fincher Organizations: Croatian National Bank, REUTERS, Central Bank, Federal, Reuters, Jackson, ECB, CIBC, Bannockburn Global Forex, Thomson Locations: Zagreb, Croatia, London, Britain, U.S, Bannockburn, Singapore

☆ Dollar marches to over two-month peak ahead of Powell speech
▼ + stars: | 2023-08-25 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

The dollar index , which measures the U.S. currency against six rivals, rose 0.173% to 104.25, the highest since June 7. The index is up more than 2% in August and is set to snap its two-month losing streak. Wong said Powell is likely to stress that policy outcome remains highly dependent on economic data. "He does not need to be dovish but a less hawkish speech could see dollar ease off." The Australian dollar eased 0.20% to $0.641, while the New Zealand dollar fell 0.27% to $0.590.

Persons: Dado Ruvic, Jerome Powell, Powell, Christopher Wong, Wong, Patrick Harker, Susan Collins, Tom Hopkins, I'd, Ankur Banerjee, Jacqueline Wong Organizations: REUTERS, Rights, U.S, Federal, Jackson, Federal Reserve, Philadelphia Fed, Boston Fed, BRI Wealth Management, Bank of Japan, New Zealand, Thomson Locations: U.S, Singapore, Japan's Tokyo, Tokyo

☆ Dollar rises ahead of Jackson Hole gathering
▼ + stars: | 2023-08-24 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

"But the reaction to them was pretty muted overall, suggesting the Jackson Hole symposium is the main thing on the markets' mind," he said. Elsewhere, the Turkish lira rallied to a 2-month high against the dollar, up about 6% to 25.55 against the dollar after the Turkish central bank hiked the 1-week repo from 17.5% to a much-higher-than expected 25%. According to the median estimate in a Reuters poll, economists were expecting the policy rate to increase to 20%. Turkey's central bank embarked on a tightening cycle in June after President Tayyip Erdogan appointed former Wall Street banker Hafize Gaye Erkan as governor. The dollar was 0.7% higher against the yen , not far from the 9-month high 146.565 touched last week.

Persons: Dado Ruvic, Jerome Powell's, Jackson, Stuart Cole, Powell, Cole, Patrick Harker, Susan Collins, Tayyip Erdogan, Hafize Gaye Erkan, Piotr Matys, Saqib Iqbal Ahmed, Joice Alves, Tom Westbrook, Ankur Banerjee, Angus MacSwan, Andrea Ricci, Nick Zieminski Organizations: REUTERS, Jackson, Equiti, Federal Reserve, Philadelphia Fed, Boston Fed, U.S, Turkish, Wall Street, Touch Capital, Bank of England, Thomson Locations: London, Europe, Turkish, British

☆ Dollar rises ahead of Jackson Hole, Turkish lira rallies
▼ + stars: | 2023-08-24 | by ( Joice Alves | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/file photo Acquire Licensing RightsLONDON, Aug 24 (Reuters) - The dollar rose on Thursday as investors awaited for U.S. job data ahead of the Federal Reserve's Jackson Hole symposium, while the Turkish lira rallied after a larger-than-expected central bank rate hike. Investors were cautious after softer-than expected data in Europe and the U.S. muddied the economic outlook sending the safe-haven dollar higher. "As the Jackson Hole symposium gets under way, market participants are looking for direction," said Isabel Albarran, Investment Officer at Close Brothers Asset Management. MORE COULD COMEElsewhere, the Turkish lira rallied, up 3% to 26.4040 against the dollar after the Turkish Central Bank hiked the 1-week repo from 17.5% to a much-larger-than expected 25%. Turkey's central bank embarked on a tightening cycle in June after President Tayyip Erdogan appointed former Wall Street banker Hafize Gaye Erkan as governor.

Persons: Dado Ruvic, Jackson, Jerome Powell, Isabel Albarran, Tayyip Erdogan, Hafize Gaye Erkan, Piotr Matys, Moh Siong Sim, China's, Joice Alves, Tom Westbrook, Ankur Banerjee, Angus MacSwan Organizations: REUTERS, Federal, Turkish, U.S, Investors, Investment, Asset Management, Turkish Central Bank, Wall Street, Touch Capital, British, Bank of England, PMI, Singapore, Thomson Locations: Europe, London

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