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☆ Yen treads on intervention zone; kiwi, Aussie dlrs hit by China woes
▼ + stars: | 2023-08-16 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

Banknotes of Japanese yen are seen in this illustration picture taken September 22, 2022. The Aussie bottomed at $0.6440, while the kiwi slid to a low of $0.5939, ahead of a rate decision by the Reserve Bank of New Zealand later on Wednesday. "But where we are at the moment, I think the jawboning will continue but I'm not convinced that we'll see intervention." The greenback predictably rode Treasury yields higher, with the dollar index ekeing out a slight gain to 103.22. The euro was little changed at $1.0902, while sterling dipped 0.05% to $1.2696, ahead of UK inflation data due later on Wednesday.

Persons: Florence Lo, Aninda Mitra, Shunichi Suzuki, Ray Attrill, I'm, Rae Wee, Shri Navaratnam Organizations: REUTERS, Rights, New, Reserve Bank of New, People's Bank of, BNY Mellon Investment Management, Finance, National Australia Bank, Federal Reserve, Treasury, Thomson Locations: Asia, Beijing, China, New Zealand, Reserve Bank of New Zealand, People's Bank of China, Japan

☆ Dollar eases as China deflation lures investors into risk assets
▼ + stars: | 2023-08-09 | by ( Amanda Cooper | ) www.reuters.com time to read: +3 min

LONDON, Aug 9 (Reuters) - The dollar eased on Wednesday after data showed the Chinese economy slipped into deflation last month, which upped the chances for the government to roll out extra stimulus measures and nudged investors into risk assets. Dollar selling by state-owned Chinese banks helped the yuan rally from a one-month low, dealers said. The Chinese central bank's stronger-than-expected exchange-rate fixing at 7.1588 per dollar before the open signalled its discomfort with the yuan's recent declines. The dollar index - which measures the performance of the U.S. currency against six others - eased 0.1%, paring some of Tuesday's 0.47% rise. "Chinese inflation data showed that consumer prices have barely moved in July, confirming that the world’s second-largest economy is stalling and may be moving into deflation," he said.

Persons: There's, Ray Attrill, Ricardo Evangelista, Chris Scicluna, Patrick Harker, Raphael Bostic, Michelle Bowman, Kevin Buckland, Brigid Riley, Simon Cameron, Moore, Kirsten Donovan Organizations: National Australia Bank, Federal Reserve, Daiwa Capital, ECB, Bank of England, Philadelphia Fed, Atlanta Fed, Fed, Thomson Locations: China, Tokyo

☆ Dollar firm on safe-haven demand as markets fret over China, banks
▼ + stars: | 2023-08-09 | by ( Kevin Buckland | ) www.reuters.com time to read: +4 min

The employee of a currency exchange shop counts U.S. dollar banknotes in Ciudad Juarez, Mexico July 27, 2023. The Chinese yuan, however, got some respite after the central bank set a stronger official rate than expected, signalling its discomfort with recent declines. Worries about the global economy flared again after data on Tuesday showed Chinese imports and exports contracting faster than expected in July. U.S. Treasuries also saw a surge in demand from haven-seeking investors, with 10-year yields briefly dipping back below 4%. Reporting by Kevin Buckland; Additional reporting by Brigid Riley; Editing by Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Jose Luis Gonzalez TOKYO, Treasuries, Ray Attrill, there's, Attrill, Patrick Harker, Raphael Bostic, Michelle Bowman, Bart Wakabayashi, Kevin Buckland, Brigid Riley, Sonali Paul Organizations: REUTERS, New Zealand, U.S, Bank of New York Mellon, US Bancorp, National Australia Bank, People's Bank of, Federal Reserve, Philadelphia Fed, Atlanta Fed, Fed, State Street Bank, Trust, Thomson Locations: Ciudad Juarez, Mexico, Asia, Rome, China, People's Bank of China, Tokyo

Sterling traded higher after recovering knee-jerk losses following the Bank of England's decision to downshift to a quarter point rate hike on Thursday. The U.S. dollar index , which gauges the currency against a basket of six counterparts, edged 0.06% lower to 102.39 in Asia. On Thursday, it had pushed to the highest since July 7 at 102.84 at one point, but lost steam later in the day with the monthly nonfarm payrolls report looming on Friday. The dollar slipped slightly to 142.40 yen , as long-term Treasury yields - which the currency pair tends to track closely - retreated from Thursday's nearly nine-month high at 4.198% in Tokyo trading. At the same time, "unless or until what's been happening with Treasury yields reverses, there's no meaningful prospect of dollar-yen coming down here, unless we see a very dramatic deterioration in risk sentiment," he added.

Persons: Dado Ruvic, Sterling, Kristina Clifton, BoE, Ray Attrill, Attrill, Kevin Buckland, Brigid Riley, Jacqueline Wong Organizations: REUTERS, Bank of, of, U.S, Commonwealth Bank of Australia, National Australia Bank, European Central Bank, Thomson Locations: China, Asia, Thursday's, Tokyo, U.S

U.S. Dollar banknotes are seen in this illustration taken July 17, 2022. Sterling traded slightly higher after recovering knee-jerk losses following the Bank of England's decision to downshift to a quarter point rate hike on Thursday. Meanwhile, the risk-sensitive Australian dollar strengthened amid a rebound in Chinese stocks and U.S. equity futures. The U.S. dollar index , which gauges the currency against a basket of six counterparts, edged 0.07% lower to 102.38 in early Asia. However, the dollar edged higher to 142.64 yen , aided by the rise in long-term Treasury yields to a nearly nine-month high at 4.198% overnight.

Persons: Dado Ruvic, Sterling, BoE, Ray Attrill, Attrill, Hong, Kevin Buckland, Brigid Riley, Jacqueline Wong Organizations: REUTERS, Bank of, of, U.S, National Australia Bank, European Central Bank, Reserve Bank of Australia, Nasdaq, Thomson Locations: Asia, Sterling, U.S, China

☆ Dollar struggles before payrolls test, Aussie rebounds
▼ + stars: | 2023-08-04 | by ( ) www.cnbc.com time to read: +3 min

Banknotes of various currencies: the Japanese Yen, the Australian dollar, the Swedish crown, and the US American dollar on a table in Hamburg, Germany, 19 February 2016. Sterling traded slightly higher after recovering knee-jerk losses following the Bank of England's decision to downshift to a quarter point rate hike on Thursday. Meanwhile, the risk-sensitive Australian dollar strengthened amid a rebound in Chinese stocks and U.S. equity futures. The U.S. dollar index , which gauges the currency against a basket of six counterparts, edged 0.07% lower to 102.38 in early Asia. However, the dollar edged higher to 142.64 yen , aided by the rise in long-term Treasury yields to a nearly nine-month high at 4.198% overnight.

Persons: Sterling, BoE, Ray Attrill, Attrill, Hong Organizations: US, Bank of, of, U.S, National Australia Bank, European Central Bank, Reserve Bank of Australia, Nasdaq Locations: Swedish, Hamburg, Germany, Asia, Sterling, U.S, China

☆ Asia shares up as China extends rally; Japanese yields a risk
▼ + stars: | 2023-07-31 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) climbed 1.1%, having gained almost 6% so far in July to reach a five-month high. Figures due this week include the U.S. ISM surveys on manufacturing and services, the July payrolls report and European inflation. Investors are still pondering the implications of Friday's shock decision by the Bank of Japan (BOJ) to lift the lid on bond yields, in a step away from its ultra-easy policies. Analysts at BofA estimate the BOJ's bond buying added $1.3 trillion to global liquidity in the past 18 months and provided a low floor for global rates, so any sustained rise in Japanese government bond yields could ripple though other bond markets. Japanese 10-year yields climbed further to 0.6% on Monday, still short of the new cap of 1.0%.

Persons: Yen, Bruce Kasman, Ray Attrill, Brent, Wayne Cole, Jamie Freed Organizations: Nikkei, Apple SYDNEY, Apple, JPMorgan, U.S, Bank of England, Reserve Bank of, Nasdaq, Apple Inc, Western Digital Corp, Caterpillar Inc, Starbucks Corp, Devices, Bank of Japan, National Australia Bank, Thomson Locations: China, Beijing, Asia, Pacific, Japan, Reserve Bank of Australia

☆ Oil climbs, markets on edge over darkening growth outlook
▼ + stars: | 2023-06-25 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

S&P 500 futures were 0.2% higher and currency markets were broadly steady. The private Wagner army then withdrew after striking a deal guaranteeing their safety and the exile of their leader, Yevgeny Prigozhin, to Belarus. The consequences for the Ukraine war were not clear, though the challenge to Russian President Vladimir Putin's authority was the starkest in decades of his leadership. "As such, we are likely to see a marginal uptick in oil prices in the coming days, if the situation does not deteriorate." Elsewhere markets were already on edge about a darkening growth outlook, as China's post-pandemic recovery stalls and global interest rates remain high, and traders were unwilling to take any new positions on the basis of Russian events.

Persons: Wagner, Yevgeny Prigozhin, Vladimir Putin's, Jorge Leon, Antony Blinken, Ray Attrill, Masato Kanda, Stephen Coates Organizations: Brent, Rystad Energy, National Australia Bank, Thomson Locations: SINGAPORE, Rostov, Moscow, Ukraine, Belarus, Russia, Sydney, Asia, China, steadied

☆ Oil up, stocks dip after short-lived Russian mutiny
▼ + stars: | 2023-06-25 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

SINGAPORE, June 26 (Reuters) - Oil nudged higher in early trade on Monday as an abortive weekend mutiny by Russian mercenaries raised questions about crude supply, though other financial markets started steadily with investors unsure of any further immediate implications. Russian mercenaries made a short-lived rebellion on Saturday, seizing the southern city of Rostov and advancing on Moscow demanding the removal of Russian military commanders in charge of the war in Ukraine. The private Wagner army then withdrew after striking a deal guaranteeing their safety and the exile of their leader, Yevgeny Prigozhin, to Belarus. The consequences for the Ukraine war were not clear, though the challenge to Russian President Vladimir Putin's authority was the starkest in decades of his leadership. "As such, we are likely to see a marginal uptick in oil prices in the coming days, if the situation does not deteriorate."

☆ Asian stocks pause rally, eyeing China stimulus, Powell testimony
▼ + stars: | 2023-06-19 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

Both S&P 500 futures and Nasdaq futures were mostly flat after Wall Street's bullish run met resistance on Friday. Cash U.S. Treasuries were untraded due to the Juneteenth holiday, while futures were largely steady. The People's Bank of China is widely expected to cut its benchmark loan prime interest rates on Tuesday, following a similar reduction in medium-term policy loans last week. Several major banks last week cut their growth forecasts for China after the recent disappointing data. U.S. crude futures fell 1.0% to 71.03 per barrel, and Brent crude was down 1.3% at $75.63 per barrel.

Persons: BOE, Jerome Powell's, bullish, HSI, Morgan Stanley, Robin Xing, Antony Blinken, Xi Jinping, POWELL, Powell, Ray Attrill, Brent, Stella Qiu, Christopher Cushing, Tom Hogue Organizations: Nikkei, . Federal, Nasdaq, Cash U.S, Japan's Nikkei, Bank of Japan's, U.S ., People's Bank of, National Australia Bank, The Bank of England, European Central Bank, Thomson Locations: China, SYDNEY, Asia, Pacific, Japan, People's Bank of China, .

☆ Dollar steady as traders consider Fed, global rates outlook
▼ + stars: | 2023-06-08 | by ( ) www.cnbc.com time to read: +3 min

The increased expectations that U.S. and global interest rates may have further to rise has come on the back of surprise rate increases by the Bank of Canada (BoC) and the Reserve Bank of Australia (RBA) this week. The Canadian dollar was last steady at C$1.3365 to the greenback, after rising to a one-month top of C$1.3321 in the previous session. The U.S. dollar index dipped slightly to 104.02, though strayed not too far from an over two-month high hit last week, on the back of higher Treasury yields. Money markets are pricing in a 29% chance that the Fed raises rates by 25bps at its policy meeting next week. "Markets have raised their FOMC rate hike expectations following a surprise Bank of Canada rate hike," said Carol Kong, a currency strategist at Commonwealth Bank of Australia.

Persons: Edward Moya, Carol Kong, Ray Attrill Organizations: Treasury, U.S . Federal Reserve, Bank of Canada, BoC, Reserve Bank of Australia, Wednesday, Canadian, U.S, European Central Bank, 25bps, of Canada, Commonwealth Bank of Australia, National Australia Bank Locations: Chicago, Asia

☆ Dollar sags as Fed bets ebb, debt bill passes; Aussie soars
▼ + stars: | 2023-06-02 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

The Australian dollar surged after an increase in the minimum wage stoked bets for the central bank to raise rates again next week. A day earlier, Fed Governor Philip Jefferson had said that "skipping a rate hike at a coming meeting would allow the committee to see more data before making decisions about the extent of additional policy firming." "Maybe they hike in June, maybe in July, or maybe they don't hike any more." Money markets currently see about 29% odds of a hike, down from near 70% earlier in the week. Traders currently lay about one-third odds on a quarter-point rate hike on Tuesday.

Persons: Patrick Harker, Philip Jefferson, Shinichiro Kadota, Christine Lagarde, Joe Biden, Monday's, Ray Attrill, NAB's, Kevin Buckland, Sam Holmes Organizations: U.S, Federal Reserve, Australian, Philadelphia Fed, Barclay, European Central Bank, National Australia Bank, Traders, Thomson Locations: TOKYO, U.S, Tokyo

☆ Fed 'skip' chatter triggers dollar's biggest weekly fall since January
▼ + stars: | 2023-06-02 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

The Australian dollar surged after an increase in the minimum wage there stoked bets for another raise in rates next week. The dollar index , which measures the U.S. currency against six others, has dropped nearly 0.8% this week, its biggest weekly loss since mid-January. Philadelphia Fed President Patrick Harker said on Thursday "it's time to at least hit the stop button for one meeting and see how it goes", referring to the June 13-14 Fed meeting. Money markets are pricing in a roughly 29% chance of a June hike, down from near 70% earlier in the week. Even if a hike doesn't happen next week, markets expect one by autumn.

Persons: Fiona Cincotta, let's, Patrick Harker, Philip Jefferson, Guy Miller, Christine Lagarde, Joe Biden, Monday's, Ray Attrill, Dhara Ranasinghe, Kevin Buckland, Mark Heinrich, Mark Potter, Andrew Heavens Organizations: Federal Reserve, Australian, City Index, Philadelphia Fed, Reuters, Zurich Insurance, European Central Bank, U.S . Senate, National Australia Bank, NAB, Traders, Reserve Bank of Australia, Thomson Locations: U.S, City, April's, London, Tokyo

☆ Investors relieved after US House votes to suspend debt ceiling
▼ + stars: | 2023-06-01 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Asian markets were trading higher when the bill cleared the house and held their gains. Treasury yields rose marginally. The bill would suspend the federal government's borrowing limit until 2025, allowing the Treasury to sell debt to pay its obligations. Two-year Treasury yields rose 2.7 basis points to 4.417%, while currency markets were broadly steady. Debt ceiling concerns periodically weighed on stock markets over the last week, although most investors expected an 11th-hour agreement.

Persons: Brendan McDermid, Joe Biden's, Ray Attrill, Biden, Brad McMillan, Jarrod Kerr, Caroline Valetkevitch, Kevin Buckland, Rae Wee, Ira Iosebashvili, David Gregorio, Lincoln Organizations: New York Stock Exchange, REUTERS, Investors, U.S . House, Senate, Republican, National Australia Bank, Treasury, White, Commonwealth Financial Network, Thomson Locations: New York City, U.S, Tokyo, Singapore

LONDON/TOKYO, June 1 (Reuters) - Global shares rose on Thursday amid receding bets for a U.S. rate hike this month and relief over the passage through the U.S. House of Representatives of a bill to suspend the federal debt ceiling. The Euro STOXX 600 index (.STOXX) rose 0.8% after closing at a two-month low in the previous session. The MSCI world equity index (.MIWD00000PUS), which tracks shares in 47 countries, added 0.2%. Also bolstering the mood were U.S. Federal Reserve officials including governor and vice chair nominee Philip Jefferson pointing to a rate hike "skip" at the Fed's June 13-14 policy meeting. However, shortly after, the Fed's Jefferson said skipping a rate hike in two weeks would provide policymakers time to see more data before making a decision.

Persons: Joe Biden, Ray Attrill, Philip Jefferson, Sandrine Perret, Jefferson, Patrick Harker, It's, it's, Tony Sycamore, Tom Wilson, Kevin Buckland, Simon Cameron, Moore, Lincoln, Emelia Organizations: U.S . House, Republicans, National Australia Bank, Federal, Fed, Philadelphia Fed, IG Markets, Treasury, Thomson Locations: TOKYO, U.S, Unigestion, Asia, London, Tokyo

☆ Asia stocks gain as Fed hike bets recede, debt vote eases nerves
▼ + stars: | 2023-06-01 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

TOKYO, June 1 (Reuters) - Most Asia-Pacific stock markets rose on Thursday amid receding bets for a U.S. rate hike this month and relief over the passage of the U.S. debt ceiling bill through the House. Treasury yields rose slightly from nearly two-week lows. ""What this does is it turns the attention to the incoming data and the Fed meeting this month," Attrill added. However, shortly after, the Fed's Jefferson said skipping a rate hike in two weeks would provide policymakers time to see more data before making a decision. Philadelphia Fed President Patrick Harker also said on Wednesday that for now he is inclined to support a "skip" in rate hikes.

Persons: Philip Jefferson, Hong, HSI, Ray Attrill, Attrill, Jefferson, Patrick Harker, Kevin Buckland, Simon Cameron, Moore Organizations: Federal, Treasury, Japan's Nikkei, Republicans, National Australia Bank, Philadelphia Fed, Brent, U.S, West Texas, Thomson Locations: TOKYO, Asia, Pacific, U.S, Tokyo

☆ Investors relieved after US House votes to suspend debt ceiling; focus turns to Senate
▼ + stars: | 2023-05-31 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Persons: Joe Biden's, Ray Attrill, Biden, Brad McMillan, Jarrod Kerr, Caroline Valetkevitch, Kevin Buckland, Rae Wee, Ira Iosebashvili, David Gregorio, Lincoln Organizations: Investors, U.S . House, Senate, Republican, National Australia Bank, Treasury, White, Commonwealth Financial Network, Thomson Locations: U.S, Tokyo, Singapore

☆ Dollar nudges lower as U.S. debt ceiling deal dents safe-haven appeal
▼ + stars: | 2023-05-29 | by ( Dhara Ranasinghe | ) www.reuters.com time to read: +4 min

Summary Dollar edges down following U.S. debt ceiling dealRisk currencies rallyTurkish lira touches new record lowLONDON, May 29 (Reuters) - The dollar nudged lower on Monday, pulling back from six-month peaks against the yen as a U.S. debt ceiling deal lifted risk appetite across world markets and dented the greenback's safe-haven appeal. Having briefly touched a six-month high of 140.91 yen during Asia trade, the dollar drifted lower and was last down 0.25% at 140.25 yen. "We've got a risk-positive response so far to the debt deal news," said Ray Attrill, head of FX strategy at National Australia Bank. "Obviously there's still the need to get this debt deal over the line, but I think markets are happy to travel on the presumption that it will get done before the new X-date." Talk that the U.S. rate hiking cycle may not be over as soon as hoped given signs of economic strength have bolstered the dollar this month and could support the currency even as U.S. debt ceiling worries abate.

☆ Dollar steady on mounting Fed hike bets, debt ceiling deal optimism
▼ + stars: | 2023-05-29 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

SINGAPORE, May 29 (Reuters) - The dollar held firm on Monday supported by growing expectations of further rate hikes by the U.S. Federal Reserve, though news that a debt ceiling deal had been finalised drew some of the safe haven bids away from the greenback. DEBT DEAL DONE? "We've got a risk-positive response so far to the debt deal news," said NAB's Attrill. "Obviously there's still the need to get this debt deal over the line, but I think markets are happy to travel on the presumption that it will get done before the new X-date." U.S. Treasury Secretary Janet Yellen had on Friday said the government would default if Congress did not increase the $31.4 trillion debt ceiling by June 5, having previously said a default could happen as early as June 1.

☆ Dollar elevated as sticky inflation cements Fed hike bets, debt ceiling deal lifts optimism
▼ + stars: | 2023-05-29 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

The yen's renewed decline has come on the back of rising U.S. Treasury yields, as bets grow that interest rates in the United States would stay higher for longer. Cash U.S. Treasuries were untraded in Asia on Monday, owing to the Memorial Day holiday in the United States, while futures were broadly steady. DEBT DEAL DONE? "We've got a risk-positive response so far to the debt deal news," said NAB's Attrill. "Obviously there's still the need to get this debt deal over the line, but I think markets are happy to travel on the presumption that it will get done before the new X-date."

☆ Dollar gains as debt deal hopes rekindle hawkish Fed bets
▼ + stars: | 2023-05-19 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

That eased fears of an unprecedented and economically catastrophic default, leading markets to revise their expectations of where U.S. interest rates could go. The euro fell to a more than seven-week low of $1.0760, while the U.S. dollar index rose 0.07% to 103.57, flirting with Thursday's two-month high of 103.63. "It does remove one obstacle to the Fed continuing to raise rates." U.S. Treasury yields have climbed on the back of the hawkish Fed repricing and amid a pick up in risk sentiment. The two-year Treasury yield , which typically moves in step with interest rate expectations, last stood at 4.2510%, while the benchmark 10-year yield was last at 3.6402%.

☆ Dollar buoyed by hawkish Fed expectations as debt deal eyed
▼ + stars: | 2023-05-19 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

SINGAPORE, May 19 (Reuters) - The dollar firmed near a six-month peak against the yen on Friday on the back of rising U.S. Treasury yields, as optimism over debt ceiling talks in Washington raised expectations of higher-for-longer interest rates. The news helped calm fears of an unprecedented and economically catastrophic American debt default, leading markets to revise their expectations of where U.S. interest rates could go. The dollar stayed elevated in early Asia trade on Friday and last bought 138.40 yen , having risen to a near six-month high of 138.75 yen in the previous session. U.S. Treasury yields have climbed on the back of the hawkish Fed repricing and amid a pick up in risk sentiment. The two-year Treasury yield , which typically moves in step with interest rate expectations, last stood at 4.2581%, edging away from a low of 3.964% at the start of the week.

☆ Shares rise, dollar weakens on bank sector fears
▼ + stars: | 2023-05-05 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

SINGAPORE, May 5 (Reuters) - Asian stocks rose, the dollar eased and gold hovered around its record highs on Friday, as jittery investors remained nervous about the U.S. banking sector following another rout in shares of regional lenders. Wall Street ended lower on Thursday after Los Angeles-based PacWest Bancorp's (PACW.O) move to explore strategic options deepened fears about the health of U.S. lenders as pressure grows on regulators to take more steps to shore up the country's banking sector. Shares of U.S. regional banks sank this week in the wake of the collapse of First Republic Bank over the weekend that has brought back fears of a financial sector crisis. The Federal Reserve on Wednesday raised interest rates by 25 basis points, but hinted that its marathon hiking cycle may be ending. China shares (.SSEC) rose 0.21%, while Hong Kong's Hang Seng index (.HSI) was up 0.6%, helping lift the region's shares.

☆ Yen sinks to 15-year low vs euro, Aussie jumps as central banks diverge
▼ + stars: | 2023-05-02 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

TOKYO (Reuters) - The yen continued its steep descent on Tuesday, reaching a 15-year low to the euro, as the implications of a steadfastly dovish Bank of Japan continued to reverberate days after the decision. FILE PHOTO: Japanese Yen and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/IllustrationMeanwhile, the Aussie dollar leapt to a one-week high after the Reserve Bank of Australia (RBA) surprised with a rate hike and signalled more tightening may come. The central bank lifted the cash rate to 3.85% and said “some further” tightening may be required to ensure that inflation returns to target in a reasonable timeframe. The European Central Bank (ECB), meanwhile, is widely expected to raise rates for a seventh straight meeting the following day, with a 50 basis-point increase on the table.

☆ Dollar dips as job openings fall, Fed meeting in focus
▼ + stars: | 2023-05-02 | by ( ) www.cnbc.com time to read: +3 min

The dollar fell Tuesday after data showed that U.S. job openings fell in March, a day before the Federal Reserve is expected to hike interest rates by an additional 25 basis points. The dollar index fell 0.22% to 101.93 after earlier reaching 102.40, the highest since April 11. The single currency has risen since mid-March on expectations that the interest rate differential with the U.S. dollar will continue to shrink. The Aussie dollar rose 0.51% to $0.6664, after earlier getting to $0.6717, the highest since April 21. The dollar fell 0.56% to 136.67 yen, after earlier hitting 137.78, the highest since March 8.

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