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☆ Euro gains, yen struggles in central bank-packed week
▼ + stars: | 2023-09-19 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

A Reuters report on Monday citing six sources said the debate over the multi-trillion-euro pool of excess liquidity sloshing around banks was likely to start next month. However, this might not be enough to give the euro a more sustained boost, according to Lee Hardman, a strategist at MUFG. "While the ECB’s reported plans to tighten excess liquidity in the euro area have helped to support the euro, they are unlikely to be sufficient on their own to turn the current weakening trend," he said. This week brings a raft of central bank meetings, including those of the Federal Reserve, the Bank of Japan, the Bank of England and the Swiss National Bank, among others, which kept currency volatility on the subdued side. In other currencies, sterling edged up 0.1% at $1.2398, ahead of an interest rate decision from the BoE on Thursday.

Persons: Dado Ruvic, Lee Hardman, Kazuo Ueda, Rodrigo Catril, Erik Weisman, BoE, Rae Wee, Lincoln, Peter Graff, Hugh Lawson Organizations: REUTERS, European Central Bank, Reuters, ECB, Federal Reserve, Bank of Japan, Bank of England, Swiss National Bank, National Australia Bank, NAB, U.S, Fed, MFS Investment Management, Thomson Locations: U.S

☆ Yen flounders, dollar drifts ahead of c.bank bonanza
▼ + stars: | 2023-09-19 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. The yen fell 0.1% to 147.76 per dollar and was kept pinned near last week's 10-month low of 147.95 per dollar. The euro meanwhile gave up some of its gains from the previous session and was last 0.12% lower at $1.0678. It had risen alongside euro zone government bond yields on Monday, following hawkish comments from European Central Bank (ECB) policymakers that further rate increases were on the cards. In other currencies, sterling edged 0.04% higher to $1.2390, ahead of an interest rate decision from the Bank of England (BoE) also due this week.

Persons: Dado Ruvic, Kazuo Ueda, Rodrigo Catril, Erik Weisman, NAB's Catril, BoE, Rae Wee, Lincoln Organizations: REUTERS, Rights, Federal, Wednesday, Bank of Japan's, National Australia Bank, NAB, Reserve Bank of Australia's, U.S, New Zealand, Fed, MFS Investment Management, European Central Bank, ECB, Reuters, Bank of England, Thomson Locations: Rights SINGAPORE, Asia

☆ Euro gains; yen flounders ahead of c.bank bonanza
▼ + stars: | 2023-09-19 | by ( ) www.cnbc.com time to read: +3 min

In this photo illustration, banknotes of Euro, Japanese Yen, Chinese Yuan and US dollar bill are placed under one-ounce silver bullion coins arranged on February 20, 2021 in Katwijk, Netherlands. The euro clung to gains on Tuesday following hawkish comments from European Central Bank, or ECB, policymakers, while the yen languished near a 10-month low ahead of a key rate decision from the Bank of Japan, or BOJ, later in the week. In Asia, the yen slipped marginally to 147.64 per dollar and was kept pinned near last week's 10-month low of 147.95 per dollar. Elsewhere, the U.S. dollar edged broadly lower, though strayed not too far from a six-month peak hit against its major peers last week ahead of the Fed's interest rate decision on Wednesday. Sterling edged 0.04% higher to $1.2390, ahead of an interest rate decision from the Bank of England, or BoE, also due this week.

Persons: Yuan, Rodrigo Catril, Kazuo Ueda, Erik Weisman, BoE Organizations: European Central Bank, Bank of Japan, Federal Reserve, ECB, National Australia Bank, Reuters, U.S, New Zealand, Fed, MFS Investment Management, Bank of England Locations: Katwijk , Netherlands, Asia

☆ Dollar eases as traders eye upcoming central bank decisions
▼ + stars: | 2023-09-18 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

Data on Monday showed U.S. homebuilder confidence fell for a second month in September, with optimism dropping to the lowest since April as high interest rates cut into affordability for prospective buyers. Fed fund futures show investors expect the Federal Reserve to keep interest rates on hold in the 5.25% to 5.5% range on Wednesday. The European Central Bank raised interest rates to 4% last week, but said this hike could be its last. Traders think Sweden's central bank is highly likely to raise interest rates on Thursday by 25 basis points to 4%, piling more pressure on the economy. The yen was up about 0.15% against the dollar at 147.62 to the dollar, with traders out for a Japanese public holiday.

Persons: Lee Jae, BoE, BoJ, Michael Brown, Janet Yellen, Brown, Kazuo Ueda, Saqib Iqbal Ahmed, Chris Reese, Richard Chang Organizations: REUTERS, U.S, Federal Reserve, Bank of England, Bank of Japan, Trader, Treasury, European Central Bank, Traders, Bank of, Thomson Locations: Seoul, Swedish, Bank of England

REUTERS/Lee Jae-Won/File Photo Acquire Licensing RightsLONDON/SINGAPORE, Sept 18 (Reuters) - The U.S. dollar hovered near a six-month high on Monday as traders looked ahead to interest rate decisions this week from the Federal Reserve, the Bank of England and the Bank of Japan. the yen was up a similar amount at 147.69 to the dollar, with traders out for a Japanese public holiday. Traders were looking towards central bank decisions later in the week which could shake up the currency market. Investors expect the Federal Reserve to keep interest rates on hold in the 5.25% to 5.5% range on Wednesday. The European Central Bank raised interest rates to 4% last week, but said this hike could be its last.

Persons: Lee Jae, Alvin Tan, RBC's Tan, Kazuo Ueda, Ueda's, Carol Kong, Ueda, Sterling, BoE, Harry Robertson, Vidya Ranganathan, Lincoln, Bernadette Baum, Alexander Smith Organizations: REUTERS, U.S, Federal Reserve, Bank of England, Bank of Japan, Asia FX, RBC Capital Markets, Traders, Investors, Bank of, Commonwealth Bank of Australia, European Central Bank, Thomson Locations: Seoul, SINGAPORE, U.S, Asia, Europe, China, Bank of England, Ukraine, London, Singapore

☆ Japan's yen takes the spotlight in central bank week
▼ + stars: | 2023-09-18 | by ( Vidya Ranganathan | ) www.reuters.com time to read: +4 min

The Bank of Japan's policy meeting on Friday is the highlight of the week in Asia, after Governor Kazuo Ueda stoked speculation of an imminent move away from ultra-loose policy. The yen was flat versus the greenback between 147.63 and 147.88 per dollar, with markets in Japan closed for a national holiday. "Anticipation of new BOJ rate guidance could support the yen into the meeting date, with the FOMC meeting also contributing to volatility this week," Chang said. The European Central Bank raised interest rates to 4% last week but said this hike could be its last. Futures are pricing in almost no chance that the Fed raises interest rates at the end of its two-day meeting next Wednesday.

Persons: Yen, Dado Ruvic, Kazuo Ueda, That's, Carol Kong, Kong, Ueda, Wei, Liang Chang, Chang, Sterling, Lincoln Organizations: REUTERS, Rights, U.S, The, of, U.S . Federal, Bank of, Commonwealth Bank of Australia, DBS Bank, European Central Bank, Japan, . U.S, Treasury, The Bank of England, Brent, Saudi, Global, Thomson Locations: Rights SINGAPORE, Asia, Bank of England, Japan, ., U.S, Ukraine

☆ Morning Bid: Chips are down
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +2 min

The global chip sector is stealing the spotlight from major central banks, after the world's top contract chipmaker raised concerns over demand, hitting share prices of semiconductor stocks. In a week packed with central bank meetings, decisions are also due from the U.S. Federal Reserve on Wednesday and Bank of England on Thursday. After the European Central Bank's fireworks last week, the euro will be closely watched as a signal for whether the backlash from more hawkish ECB members is gaining any traction with traders and investors. The BOE is likely to hike interest rates for the 15th time later in the week, while the Fed seems set for a hawkish pause. One more little complication is the steady grind higher in oil prices to new highs that is stoking inflation concerns, just as central banks in most developed economies are at or approaching the end of their tightening cycles.

Persons: Vidya Ranganathan, chipmaker, There's, Kazuo Ueda, BOE, Guindos, Panetta, Sam Holmes Organizations: Vidya, Reuters, General Motors, Ford, Chrysler, International, Co, of, U.S . Federal Reserve, Bank of England, ECB, Thomson Locations: Asia, Detroit

☆ Japan's yen in spotlight ahead of 'live' BOJ meeting
▼ + stars: | 2023-09-18 | by ( ) www.cnbc.com time to read: +3 min

In a week packed with central bank meetings, decisions are also due from the U.S. Federal Reserve on Wednesday and Bank of England on Thursday. The yen was flat versus the greenback at 147.82 per dollar with markets in Japan closed for a national holiday. Carol Kong, economist and currency strategist at Commonwealth Bank of Australia, said she expects the yen to be volatile leading up to the policy meeting. "So that means dollar yen can track higher, particularly if Governor Ueda sounds dovish and dashes hopes of policy tightening at the upcoming meeting," she said. The European Central Bank raised interest rates to 4% last week but said this hike could be its last.

Persons: Kazuo Ueda, Carol Kong, Kong, Ueda, Sterling Organizations: U.S ., The, of, U.S . Federal Reserve, Bank of England, Commonwealth Bank of Australia, European Central Bank, Japan, . U.S, Treasury, Deutsche Bank Research, Brent, Saudi Locations: Asia, Japan, ., U.S, Ukraine

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. The greenback tumbled ahead of U.S. inflation data due on Wednesday, with traders on the lookout for whether the world's largest economy is indeed on track for a "soft landing", and whether the Federal Reserve has further to go in raising rates. "It seems that Ueda's comments were intended to stop the yen's slide against the dollar," said Takehiko Masuzawa, trading head at Phillip Securities Japan. DOLLAR SLIDEThe dollar index , which measures the U.S. currency against peers including the yen, was last down 0.26% to 104.59, near an almost one-week low. It was last nearly 0.8% higher at 7.2895 per dollar, while its offshore counterpart similarly was up about 0.9% to 7.3003 per dollar.

Persons: Florence Lo, Kazuo Ueda stoked, Ueda, Takehiko, Francesco Pesole, Matt Simpson, Rae Wee, Junko Fujita, Joice Alves, Jason Neely Organizations: U.S, REUTERS, Rights, Bank of Japan, Federal Reserve, Yomiuri, Phillip Securities Japan, Treasury, ING, Aussie, New Zealand, Thomson Locations: Rights SINGAPORE, LONDON, Japan, United States, Singapore, Tokyo, London

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. "It seems that Ueda's comments were intended to stop the yen's slide against the dollar," said Takehiko Masuzawa, trading head at Phillip Securities Japan. Christopher Wong, a currency strategist at OCBC, attributed the dollar's slide to traders "lightening up" on their long dollar positions ahead of the data. Against the weaker U.S. dollar, the Aussie and the New Zealand dollar were among the biggest beneficiaries, each rising more than 0.5%. The Australian dollar was last 0.6% higher at $0.64165, while the kiwi gained 0.52% to $0.5914.

Persons: Florence Lo, Kazuo Ueda stoked, Ueda, Takehiko, Sterling, Christopher Wong, Alvin Tan, Matt Simpson, Rae Wee, Junko Fujita, Sam Holmes, Christopher Cushing Organizations: U.S, REUTERS, Rights, Bank of Japan, Yomiuri, Federal Reserve, Phillip Securities Japan, British, Fed, Treasury, Asia FX, RBC Capital Markets, Index, Aussie, New Zealand, Thomson Locations: Rights SINGAPORE, Japan, Asia, United States, U.S, Singapore, Tokyo

☆ Yen jumps on Ueda's remarks, dollar tentative ahead of U.S. inflation print
▼ + stars: | 2023-09-11 | by ( ) www.cnbc.com time to read: +3 min

A sheet of newly-designed Japanese 10,000 yen banknotes at the National Printing Bureau Tokyo plant in Tokyo, Japan, on Wednesday, June 28, 2023. Ueda told the Yomiuri newspaper in an interview that the BOJ could have enough data by year-end to determine whether it can end negative rates. "Ueda is laying the foundations for an exit from negative interest rates, and he is giving plenty of notice," said Matt Simpson, senior market analyst at City Index. The dollar index , which capped last week with eight straight weeks of gains, its longest run since 2014, dipped slightly to 104.84. The Australian dollar , often used as a liquid proxy for the yuan, rose 0.29% to $0.6397, while the New Zealand dollar edged 0.28% higher to $0.5900.

Persons: Kazuo Ueda stoked, Ueda, Matt Simpson, Alvin Tan, Index's Simpson Organizations: National Printing Bureau, Bank of Japan, Yomiuri, Federal Reserve, British, Sterling, Fed, U.S, Treasury, Asia FX, RBC Capital Markets, New Zealand Locations: National Printing Bureau Tokyo, Tokyo, Japan, U.S, Asia, United States

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