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☆ Dollar climbs as Trump makes early gains in exit polls; Bitcoin rises
▼ + stars: | 2024-11-06 | by ( ) www.cnbc.com time to read: +1 min

The dollar rallied broadly on Wednesday as early exit polls in the extremely close U.S. presidential election appeared to give an edge to Republican Donald Trump. The dollar rallied broadly on Wednesday as early exit polls in the extremely close U.S. presidential election appeared to give an edge to Republican Donald Trump. Trump won eight states in the election while Harris captured three states and Washington, D.C., Edison Research projected. The early results were as anticipated, with the contest expected to come down to seven swing states. The dollar index — which measures the currency against six major peers including the euro and yen — rose 0.76% to 104.14 as of 0048 GMT.

Persons: Republican Donald Trump, Trump, Kamala Harris, Harris, Bitcoin, James Kniveton Organizations: Republican, Edison Research, D.C, U.S ., Trump Locations: Georgia, Washington, Mexico, China

☆ U.S. dollar rally pauses before jobs data, Aussie droops on RBA outlook
▼ + stars: | 2024-10-30 | by ( ) www.cnbc.com time to read: +4 min

An Australian one dollar coin sits atop a United States one dollar bill in this illustration photo taken February 12, 2016. The dollar hovered close to a three-month peak on Wednesday in a big week for macroeconomic data that could reveal the path for U.S. monetary policy. The Australian dollar edged closer to a three-month trough after some stickiness in inflation suggested a Reserve Bank of Australia interest rate cut is unlikely this year. The ADP employment report is due later in the day, ahead of the potentially crucial monthly payrolls report on Friday. "The U.S. dollar continues to garner strong support as markets adjust their rate path expectations," said James Kniveton, senior corporate FX dealer at Convera.

Persons: James Kniveton, Kniveton, Donald Trump, Rachel Reeves, Keir Starmer, Liz Truss Organizations: Reserve Bank of Australia, Federal Reserve, U.S ., Reserve Bank, Australia's, U.S, Treasury, Republican, European Central Bank, Sterling, Labor Locations: States, U.S, Australia, Europe

☆ Battered yen pinned near multi-decade low amid resilient dollar
▼ + stars: | 2024-06-27 | by ( ) www.cnbc.com time to read: +2 min

The yen languished near a 38-year low on Thursday and struggled on the weaker side of 160 per dollar, keeping markets on alert for any signs of intervention from Japanese authorities to prop up the currency. The yen languished near a 38-year low on Thursday and struggled on the weaker side of 160 per dollar, keeping markets on alert for any signs of intervention from Japanese authorities to prop up the currency. In the broader market, the dollar was on the front foot and stood near an eight-week high against a basket of currencies, helped in part by a weaker yen and as it rose in step with U.S. Treasury yields. In a carry trade, an investor borrows in a currency with low interest rates and invests the proceeds in higher-yielding assets. Analysts said while the risk of intervention has increased, Japanese authorities could be holding out for Friday's release of the U.S. personal consumption expenditures price index before entering the market.

Persons: Boris Kovacevic Organizations: U.S, Treasury, Ministry of Finance Locations: Japan, Tokyo

☆ Dollar hovers near highest in a week after hawkish Fed minutes
▼ + stars: | 2024-05-23 | by ( ) www.cnbc.com time to read: +3 min

The yen l anguished just above a three-week low despite the continued threat of intervention by Japanese officials. The dollar index, which tracks the currency against six major rivals including the euro , sterling and yen, was little changed at 104.89 after gaining 0.28% overnight. The dollar was little changed at 156.77 yen after rising to 156.85 overnight, the highest since May 1. Traders and analysts suspect Japan's Ministry of Finance intervened several times to support the yen following its plunge to a 34-year low of 160.245 per dollar on April 29. Bigger rival bitcoin was little changed at $69,491 after reaching $71,957 on Tuesday for the first time since April 9.

Persons: Sterling, Ether, James Kniveton, Japan's, Rishi Sunak, bitcoin Organizations: Bank of Japan, Reserve, Federal, Traders, of Finance, Bank of England, Conservatives, Labour Party, Labour, Securities

☆ Dollar reigns supreme as hot CPI cools bets for Fed cuts
▼ + stars: | 2024-02-14 | by ( ) www.cnbc.com time to read: +3 min

In this photo illustration, the man is holding several U.S. dollar bills with some Chinese yuan in the background. The dollar traded near three-month highs to major peers on Wednesday as traders pushed back bets for a first Federal Reserve interest rate cut following surprisingly hot U.S. inflation figures overnight. The dollar has added about 10 yen in price since the start of this year. The euro was steady at $1.0710, after dipping to a three-month low of $1.07005 overnight. The Australian dollar languished near a three-month low of $0.6443 reached overnight, last trading at $0.64545.

Persons: James Kniveton, Kazuo Ueda, Kniveton, Masato Kanda, cryptocurrency bitcoin, bitcoin, Craig Erlam Organizations: Fed, Traders, Bank of Japan, Treasury, Bank of England, Australian, U.S, CPI, OANDA Locations: U.S

☆ Dollar on defensive after pullback from nearly 3-month peak
▼ + stars: | 2024-02-07 | by ( ) www.cnbc.com time to read: +2 min

The dollar remained under pressure on Wednesday after retreating from a nearly three-month high against the euro in the previous session with a decline in U.S. bond yields adding to the drag. The dollar remained under pressure on Wednesday after retreating from a nearly three-month high against the euro in the previous session with a decline in U.S. bond yields adding to the drag. U.S. Treasury yields also turned down from highs overnight on solid demand at a sale of new three-year notes, removing some support for the dollar. The U.S. dollar index , which measures the currency against six major peers, including the euro, was flat at 104.14, following Tuesday's 0.29% slide. The currency pair tends to be extremely sensitive to moves in Treasury yields.

Persons: Jerome Powell scuppered, Matt Simpson, James Kniveton Organizations: Federal, Treasury, U.S, CPI, Federal Reserve Locations: U.S, Asia

☆ Dollar hovers near 6-week high on Fed view; yen edges up after BOJ
▼ + stars: | 2024-01-24 | by ( ) www.cnbc.com time to read: +4 min

The Japanese yen , though, ticked higher as expectations rose for a stimulus exit as soon as March, following hawkish comments from the Bank of Japan on Tuesday. "We have seen ECB (European Central Bank) officials push back on rate cut expectations as well, in line with the Federal Reserve." The dollar declined 0.17% to 148.085 yen, after swinging from as low as 146.99 and as high as 148.70 on Tuesday. The Bank of Canada meets on policy on Wednesday, and is expected to leave its key overnight rate unchanged at a 22-year high of 5%. Traders have unwound bullish positions built up in anticipation of U.S. approval of the country's first spot bitcoin exchange traded fund (ETF).

Persons: Mary Daly, Christopher Waller, James Kniveton, Christine Lagarde's, Sterling, Kazuo Ueda, China's, cryptocurrency, Bitcoin Organizations: Federal Reserve, Bank of Japan, U.S, San Francisco Fed, ECB, European Central Bank, Bank of England, Bank of Canada, Bloomberg, Traders Locations: U.S

☆ Dollar holds ground as macro data hints at later Fed rate cut
▼ + stars: | 2023-11-16 | by ( Kevin Buckland | ) www.reuters.com time to read: +2 min

U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. The risk-sensitive Australian and New Zealand dollars sank amid a decline in regional equities. The dollar index - which measures the greenback against the euro, yen and four other rivals - added 0.11% to 104.43. Elsewhere, the Aussie slid 0.29% to $0.64905, and the New Zealand dollar declined 0.5% to $0.5993. Australia's currency failed to draw support from a strong rebound in employment, as traders keyed on the fact that gains were mostly in part-time labour, while the jobless rate actually ticked higher.

Persons: Dado Ruvic, James Kniveton, Kevin Buckland, Shri Navaratnam Organizations: REUTERS, Rights, Reserve, New Zealand, Traders, Thomson Locations: Convera

☆ Canadian dollar hits 7-month low as BoC stays sidelined
▼ + stars: | 2023-10-25 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto, January 23, 2015. The Canadian central bank held its key overnight rate at a 22-year high of 5.0%, as expected, for a second straight meeting. Wall Street fell after lackluster corporate results, while the U.S. dollar (.DXY) rallied against a basket of major currencies. Canadian government bond yields were higher across a steeper curve but the move for shorter-dated maturities was less than for the equivalent U.S. Treasury yields. The 2-year rose 2.9 basis points to 4.749%, while the 10-year was up 11.3 basis points at 4.131%.

Persons: Mark Blinch, Tom O'Gorman, we're, Michael Goshko, maturities, Fergal Smith, Sandra Maler Organizations: REUTERS, greenback, BoC, Canadian, U.S, Bank of, Franklin Templeton, Convera Canada, U.S ., Treasury, Thomson Locations: Toronto, TORONTO, Canadian, Franklin Templeton Canada, Wall

☆ Dollar hovers below 3-month high to euro as ECB decision looms
▼ + stars: | 2023-09-14 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

The yen pulled away from near a 10-month trough to the dollar as a decline in long-term Treasury yields removed some support for the U.S. currency. The U.S. dollar index - measuring the currency against a basket of six developed-market peers, including the euro and yen - edged 0.1% lower to 104.63 in the Asian morning. The euro added 0.1% to $1.07415, continuing its grind higher from last week's low of $1.0686. The dollar slipped 0.2% to 147.125 yen , falling back from near last week's peak of 147.875. At the same time, a hike by the ECB "could potentially catalyse a shift in momentum, relegating the dollar to a secondary position as the euro gains traction," he added.

Persons: Dado Ruvic, James Kniveton, Kevin Buckland, Simon Cameron, Moore Organizations: REUTERS, Rights, U.S, Treasury, Labor Department, Traders, ECB, Reuters, Thomson Locations: U.S, Melbourne

☆ Dollar hovers above 3-month low to euro as ECB decision looms
▼ + stars: | 2023-09-14 | by ( ) www.cnbc.com time to read: +3 min

The yen pulled away from near a 10-month trough to the dollar as a decline in long-term Treasury yields removed some support for the U.S. currency. The U.S. dollar index — measuring the currency against a basket of six developed-market peers, including the euro and yen — edged 0.1% lower to 104.63 in the Asian morning. The euro added 0.1% to $1.07415, continuing its grind higher from last week's low of $1.0686. The dollar slipped 0.2% to 147.125 yen , falling back from near last week's peak of 147.875. At the same time, a hike by the ECB "could potentially catalyze a shift in momentum, relegating the dollar to a secondary position as the euro gains traction," he added.

Persons: James Kniveton Organizations: U.S, Treasury, Labor Department, Traders, ECB, Reuters Locations: U.S, Melbourne

☆ US dollar rises on global growth worries; Aussie down
▼ + stars: | 2023-09-05 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

The Aussie dollar slumped after the Reserve Bank of Australia kept rates steady. "Worries are on the rise about a China and Europe-led slowdown in global growth. As a result the dollar is catching a solid safe haven bid," said Joe Manimbo, senior market analyst at Convera in Washington. The euro was down 0.69% after hitting a near 3-month low against the dollar at $1.07225. A deteriorating global growth picture sent the pound to a 12-week low against the dollar after a survey showed business activity in Britain contracted last month.

Persons: Dado Ruvic, Joe Manimbo, Christopher Waller, Waller, Convera's Manimbo, bitcoin, Saqib Iqbal Ahmed, Alun John, Shinjini Ganguli, Mike Harrison, William Maclean Organizations: REUTERS, Reserve Bank of, Fed, Federal, U.S, Financial, Aussie, Thomson Locations: China, Reserve Bank of Australia, Europe, Washington, U.S, Britain, 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

☆ U.S. dollar lifted by worries over global growth; Aussie sinks
▼ + stars: | 2023-09-05 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNEW YORK, Sept 5 (Reuters) - The dollar rose on Tuesday as jitters over global growth, particularly in China, caused investors to flock to the safe-haven U.S. currency, while the Aussie dollar slumped 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 euro, was down 0.72% after hitting a near 3-month low against the dollar at $1.0719. The U.S. dollar also climbed against China's currency, and was last up 0.42% at 7.3081 against the yuan traded offshore. A deteriorating global growth picture sent the pound to a 12-week low against the dollar after a survey showed business activity in Britain contracted last month.

Persons: Dado Ruvic, Joe Manimbo, Christopher Waller, Waller, Convera's Manimbo, bitcoin, Saqib Iqbal Ahmed, Alun John, Shri Navaratnam, Alexander Smith, Shinjini Ganguli, Mike Harrison Organizations: REUTERS, Aussie, Reserve Bank of, Fed, Federal, U.S, Financial, Thomson Locations: China, Reserve Bank of Australia, Europe, Washington, U.S, Britain, London

☆ U.S. dollar rises on global growth worries; Aussie down
▼ + stars: | 2023-09-05 | by ( ) www.cnbc.com time to read: +3 min

The dollar rose to a near six-month high against a basket of currencies on Tuesday as jitters over global growth, particularly in China, caused investors to flock to the safe-haven U.S. currency. The Aussie dollar slumped 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 euro was down 0.69% after hitting a near 3-month low against the dollar at $1.07225. A deteriorating global growth picture sent the pound to a 12-week low against the dollar after a survey showed business activity in Britain contracted last month.

Persons: Shane Oliver, Joe Manimbo, Christopher Waller, Waller, Convera's Manimbo, bitcoin Organizations: AMP, Reserve Bank of, Fed, Federal, U.S, Financial, Aussie Locations: Sydney, Australia, China, Reserve Bank of Australia, Europe, Washington, U.S, Britain

☆ Dollar gains on solid data, euro drops on cautious ECB comments
▼ + stars: | 2023-08-31 | by ( Karen Brettell | ) www.reuters.com time to read: +4 min

U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. U.S. consumer spending increased by the most in six months in July, with an 0.8% increase, but slowing inflation strengthened expectations that the Federal Reserve would keep interest rates unchanged next month. “The dollar is faring better as today’s data suggests America’s economic glass remains half full,” said Joe Manimbo, senior market analyst at Convera in Washington. Money markets are now pricing in a 69% probability that the ECB will leave rates unchanged at its September meeting. The dollar was last 7.2595 against the onshore yuan , after reaching 7.2485, the lowest level since Aug. 14.

Persons: Dado Ruvic, ”, Joe Manimbo, Raphael Bostic, ’, Isabel Schnabel, “ We've, Michael Brown, Karen Brettell, Samuel Indyk, Jonathan Oatis Organizations: REUTERS, European Central Bank, Federal Reserve, Atlanta Fed, Reuters, ECB, Trader, People's Bank of, Thomson Locations: Washington, U.S, People's Bank of China, London

☆ Canadian dollar posts biggest monthly decline since February
▼ + stars: | 2023-08-31 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto January 23, 2015. The loonie was trading 0.1% higher at 1.3515 to the greenback, or 73.99 U.S. cents, after moving in a range of 1.3505 to 1.3557. For the month, the currency lost 2.4%, its biggest monthly decline since February. "The laggards (in August) among G10 currencies are predominantly the commodity complex," said Michael Goshko, senior market analyst at Convera Canada. Canadian government bond yields were mixed across the curve, with the 10-year down 1 basis point at 3.566%.

Persons: Mark Blinch, Michael Goshko, Fergal Smith, Grant McCool Organizations: REUTERS, greenback, U.S, Convera, New Zealand, Bank of Canada, Thomson Locations: Toronto, TORONTO, China, Norwegian, Canadian

U.S. Dollar and Chinese Yuan banknotes are seen in this illustration picture taken June 14, 2022. The People's Bank of China (PBOC) set a much stronger-than-expected daily fixing, lifting the yuan from a 9-month low hit on Thursday. The yuan weakened against the dollar to 7.3060 in offshore trading after the PBOC set the official mid-point at 7.2006, more than 1,000 pips stronger than Reuters' estimate. China's economic troubles have deepened, with property developer China Evergrande (3333.HK) seeking Chapter 15 protection in a U.S. bankruptcy court. The Japanese yen strengthened 0.38% versus the greenback at 145.29 per dollar after reaching a nine-month low of 146.56 on Thursday.

Persons: Florence Lo, Joe Manimbo, it's, we've, Joseph Trevisani, that's, Hannah Lang, Joice Alves, Kevin Buckland, Sharon Singleton Organizations: REUTERS, Rights, People's Bank of China, Reuters, China, HK, U.S, Federal, Thomson Locations: U.S, Convera, China, Washington, London, Tokyo

☆ Dollar gains after Fed loan survey, yen slips
▼ + stars: | 2023-07-31 | by ( Herbert Lash | ) www.reuters.com time to read: +5 min

The dollar index , a measure of the greenback against six major currencies, rose 0.28% after trading little changed earlier in the session. The euro retreated from early gains after data showed economic growth in Europe nudged higher and inflation ticked lower. The dollar advanced 0.78% against the yen at 142.250 after a fresh intervention by the BoJ on Monday. The dollar posted its first monthly loss against the yen since March, and its second successive monthly loss against the euro and pound. The euro earlier rose after data showed euro zone inflation fell further in July, while the bloc returned to growth in the second quarter of 2023 with a greater-than-expected expansion.

Persons: Marc Chandler, Chandler, Jackson, Joe Manimbo, Sterling, BoE, Herbert Lash, Alun John, Rae Wee, Himani Sarkar, Kim Coghill, Christina Fincher, Mark Heinrich, Deepa Babington Organizations: YORK, Federal Reserve, Survey, Bannockburn Global, Index, Bank of Japan, China's State, Federal, Market, Central Bank, Rabobank, ECB, Bank of England's, Thomson Locations: Bannockburn, New York, U.S, Jackson Hole , Wyoming, Washington, Europe, Asia, China, London, Singapore

[1/2] U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. July's reading showed the sixth straight month of growth but was restrained by softening conditions in the service sector. The euro slid after PMI data showed euro zone business activity shrank much more than expected in July. The pound also dropped after British business activity data, but its move was less dramatic. There is plenty more for investors to watch this week - the Federal Reserve concludes a meeting on Wednesday, followed by the European Central Bank (ECB) a day later and the Bank of Japan on Friday, as well as earnings from many heavyweight companies.

Persons: Dado Ruvic, Joe Manimbo, bitcoin, Laura Matthews, Tom Westbrook, David Holmes, Jacqueline Wong, Susan Fenton Organizations: REUTERS, P Global, Washington D.C, ECB, PMI, Reserve, European Central Bank, Bank of Japan, Investors, Fed, Reuters, Thomson Locations: York, LONDON, U.S, Europe, Washington, United States, New York

☆ Dollar gains as pound tumbles on cooling UK inflation
▼ + stars: | 2023-07-19 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar bounced on Wednesday after inflation in the United Kingdom cooled more than economists expected in June, sending the pound sharply lower against other major currencies. Before Wednesday's data, investors had assigned a roughly 60% chance that the BoE would hike rates on Aug. 3 by a half-percentage point. "The dollar is catching a reprieve because it's the inflation data that's really dictating sentiment, the dollar was whacked by cooler inflation last week and now it's the pound's turn today," Manimbo added. Fed funds futures traders are pricing in 33 basis points of additional tightening with the benchmark rate expected to peak at 5.40% in November. The New Zealand dollar was volatile, briefly spiking after consumer inflation came in slightly above expectations in the second quarter, before falling to last trade down 0.4% at $0.6250.

Persons: Joe Manimbo, BoE, Manimbo, Sterling, Kenneth Broux, Kazuo Ueda Organizations: U.S, Bank of England, Reuters, Bank of, Societe Generale, Federal Reserve, Bank of Japan, New Zealand Locations: Zealand, United Kingdom, May's, Convera, Washington ,, Bank of England

☆ FOREX Dollar gains after Fed minutes reinforce rate hike expectations
▼ + stars: | 2023-07-05 | by ( Herbert Lash | ) www.reuters.com time to read: +3 min

Fed funds futures showed expectations of a 25 basis point hike at the end of a two-day policy meeting on July 26 rose to 88.7%, according to CME Group's FedWatch Tool. The dollar index , which measures the U.S. currency against a basket of six others, including the euro and Japan's yen, rose 0.262% . The Fed will likely increase rates in July after the hawkish pause last month baring any surprises, said Jeffrey Roach, chief economist for LPL Financial. The dollar rose to around 144.48 yen, but was still below the 145 threshold that prompted intervention by Japanese authorities last autumn. The dollar-yen rate has broadly moved in sync with the U.S. 10-year Treasury yield , which rose to 3.9375% after the Fed minutes were released.

Persons: Dado Ruvic, baring, Jeffrey Roach, Roach, Joe Manimbo, Shusuke Yamada, Herbert Lash, Amanda Cooper, Kevin Buckland, Marguerita Choy, Mark Heinrich Our Organizations: REUTERS, U.S, Federal, LPL Financial, Labor Department, Treasury, Bank of America, Ministry, Finance, People's Bank of China, Thomson Locations: U.S, Washington, Tokyo, Beijing, London

☆ Dollar steady before Fed minutes; yen hovers below 145-mark
▼ + stars: | 2023-07-05 | by ( Herbert Lash | ) www.reuters.com time to read: +3 min

[1/2] FILE PHOTO-U.S. Dollar banknotes are seen in this illustration taken July 17, 2022. The Federal Open Market Committee is due to release the minutes from its most recent policy meeting at 1400 EDT (1800 GMT). "Of course, another barometer for what the Fed does will be the jobs report on Friday," he said. The dollar hovered around 144.165 yen, below the 145 threshold that prompted intervention by Japanese authorities last autumn. The Australian dollar fell 0.1% to $0.6683, on course to snap a four-day streak of gains.

Persons: Dado Ruvic, Joe Manimbo, Manimbo, Shusuke Yamada, Herbert Lash, Amanda Cooper, Kevin Buckland, Shri Navaratnam, Helen Popper, Mark Heinrich Our Organizations: REUTERS, U.S, Federal, Fed, Treasury, Independence, Bank of America, Ministry, Finance, People's Bank of China, Thomson Locations: Washington, U.S, Tokyo, Beijing, London

☆ Stocks fall, U.S. dollar up as investors assess U.S. rate outlook
▼ + stars: | 2023-06-20 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Investors also were digesting China's move to cut its benchmark loan prime rates (LPR) for the first time in 10 months on Tuesday. Among Beijing's moves to stimulate the country's slowing recovery, the People's Bank of China lowered the medium-term lending facility rate on Thursday. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 11, 2023. Against a basket of six major currencies, the dollar was up 0.22% on the day, with the euro down 0.14% to $ 1.0907 . The Australian dollar fell after its latest central bank meeting minutes showed that keeping interest rates unchanged had been under consideration.

Persons: Dow, Brendan McDermid, Jerome Powell, Powell, Joe Manimbo, Brent, Caroline Valetkevitch, Saqib Iqbal Ahmed, Joice Alves, Selena Li, Anisha, Susan Fenton, Jason Neely, Richard Chang Organizations: Treasury, People's Bank of, Federal Reserve, Dow Jones, Nasdaq, Traders, New York Stock Exchange, REUTERS, . House, Representatives, Financial Affairs, Thomson Locations: U.S, People's Bank of China, New York City, China . U.S, New York, London, Hong Kong, Bengaluru

☆ Data lifts dollar, euro soft as Germany enters recession
▼ + stars: | 2023-05-25 | by ( ) www.cnbc.com time to read: +3 min

The dollar rose for a fourth straight session on Thursday against a basket of major peers to hit a fresh two-month high, as U.S. economic data signaled resilience even after the Federal Reserve's aggressive rate hike cycle. In contrast the German economy, Europe's largest, was in recession in the first quarter as GDP fell 0.3%, sending the euro lower. The dollar index rose 0.27% at 104.100 after hitting 104.27, its highest since March 17. Boston Federal Reserve President Susan Collins said on Thursday the time may be at hand for the U.S. central bank to pause its rate hike cycle. Worries about a potential U.S. default supported the dollar as talks continue in Washington to raise the $31.4 trillion debt ceiling.

Persons: Joe Manimbo, CME's, Susan Collins, Fitch, DBRS Morningstar, Kevin McCarthy, Sterling Organizations: Washington DC, Fed, Boston Federal, U.S, Treasury, AAA, White House, Republican Locations: Brest, France, U.S, Washington, United States

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