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☆ Dollar rises for third day before Fed Chair Powell speech
▼ + stars: | 2023-11-08 | by ( Samuel Indyk | ) www.reuters.com time to read: +4 min

"The data side has been very quiet so the main drivers have been the hawkish comments from Fed speakers," said ING FX strategist Francesco Pesole. Focus now turns to remarks from Fed Chair Powell later on Wednesday. DARKENING GROWTH OUTLOOKThe euro fell 0.3% to $1.0670, further weighed by a darkening growth outlook in the euro zone. "The mixed outlook for consumer and investment spending leaves the euro zone very close to recession," said Wells Fargo economist Nick Bennenbroek. "Regardless of whether the euro zone falls into recession, we see enough growth headwinds to suggest that the European Central Bank's monetary tightening is done."

Persons: Dado Ruvic, Jerome Powell, Francesco Pesole, They've, Powell, Matt Simpson, Wells, Nick Bennenbroek, ING's Pesole, Luci Ellis, Samuel Indyk, Rae Wee, Lincoln, Christina Fincher, Alex Richardson Organizations: REUTERS, Reserve, U.S, ING, Central, Reserve Bank of Australia, Thomson

☆ Safe-haven dollar hovers around 2-month high on China woes, high rates fear
▼ + stars: | 2023-08-18 | by ( Joice Alves | ) www.reuters.com time to read: +4 min

U.S. Dollar and Chinese Yuan banknotes are seen in this illustration picture taken June 14, 2022. "High yields and growing risks in China suggests the balance of risks is moderately tilted to the upside for the dollar," he added. The U.S. dollar index , which measures the currency against six peers, edged 0.1% higher at 103.53, after touching a two-month high at 103.59 on Thursday. ING'S Pesole said the single currency has been surprisingly resilient given the euro zone’s economic exposure to China. Against the yen, the dollar eased 0.3% to 145.38 , after reaching a nine-month peak of 146.56 on Thursday.

Persons: Florence Lo, Francesco Pesole, ING'S Pesole, Joice Alves, Kevin Buckland, Sharon Singleton Organizations: REUTERS, People's Bank of China, Reuters, China, HK, U.S, ING, Federal, Thomson Locations: Thursday's, U.S, Beijing, China, London, Tokyo

Finance Minister Shunichi Suzuki said on Tuesday: "We will closely watch currency market moves with a strong sense of urgency and will respond appropriately if the moves become excessive." Japan intervened to boost the yen last year when it weakened past the 145 per dollar level. "Euro-dollar is a bit stronger this morning, we had probably a bit of help from hawkish ECB (European Central Bank) comments this morning," said ING's Pesole. Latvian central bank governor and ECB official Martins Kazaks said in Portugal on Tuesday that the central bank will likely keep hiking interest rates after July. China's central bank set its daily yuan fixing stronger than market expectations for a second day in a row on Tuesday.

Persons: paring, Shunichi Suzuki, Francesco Pesole, ING's Pesole, Martins Kazaks, Kazaks, Christine Lagarde, Jerome Powell, Andrew Bailey, Kazuo Ueda, Lagarde, Vladimir Putin, Wagner, Sterling, Harry Robertson, Rocky Swift, Barbara Lewis, Conor Humphries, Chizu Organizations: Central, . Finance, Bank of Japan, ING, hawkish ECB, European Central Bank, ECB, Federal, Bank of England, Wednesday, Thomson Locations: TOKYO, Japan, Sintra, Portugal, Latvian, Russian, China, China's, London, Tokyo

☆ US consumers may have to live with high prices for longer — and a falling dollar could be to blame
▼ + stars: | 2023-01-28 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +5 min

However, a four-month drop in the dollar is threatening to derail that trend by raising the cost of imported goods. But the welcome relief on the prices front is now facing a new threat — in the form of a falling dollar. A weaker dollar raises the cost of imported goods, which would eventually feed into consumer prices in the US. The US is a net importer of materials such as lumber and semiconductors that are crucial in manufacturing supply chains, and these would become costlier due to dollar weakness. "If we continue to see the dollar trade at current levels or even increase in weakness, that would be a headwind in the fight against high global inflation," Lomholt told Insider.

☆ King dollar's worst slump in over a decade is hammering one of 2022's biggest winners – but the greenback's dominant run might not be over just yet
▼ + stars: | 2022-12-08 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

Still, the dollar could advance next year thanks to its safe-haven status as recession risks rise, strategists told Insider. Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox. But the US currency is more likely to bounce back than to continue sliding next year, some strategists told Insider. "There's immense uncertainty around so much right now – Ukraine, China, recession, and interest rates, oil prices and OPEC." "Our expectation is that it continues hiking rates well into 2023 — and then the dollar should rise again."

LONDON, Oct 11 (Reuters) - The U.S. dollar edged back towards September's multi-year highs on Tuesday as worries about rising interest rates and geopolitical tensions unsettled investors, while the yen hovered near the level that prompted last month's intervention. "There are the Fed minutes and U.S. CPI this week that will be quite important for strengthening hawkish Fed expectations and could continue to support the dollar," Pesole added. "It's not that easy to gauge at which level the Bank of Japan will intervene," ING's Pesole said. "It's mostly a matter of how orderly the depreciation in the yen is," Pesole added, although he doubts the BoJ would be comfortable with the yen at 150 per dollar. Adding to the BoE's headaches was labour market data that showed Britain's unemployment rate fall to its lowest since 1974 in the three months to August, but the drop was driven by a record jump in the number of people leaving the labour market.

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