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☆ Swedish crown gains on c.bank forecast for more hikes, softer dollar
▼ + stars: | 2023-02-09 | by ( Alun John | ) www.reuters.com time to read: +3 min

LONDON, Feb 9 (Reuters) - The Swedish crown rallied on Thursday after the country's central bank raised interest rates and forecast further tightening, while the dollar weakened against most other currencies alongside positive sentiment across markets. The dollar was last down 1.4% against the crown at 10.45 crowns and the euro was down 1.16% at 11.21, after the Riksbank raised its interest rate by 50 basis points to 3%, and forecast more increases in the spring. The Swedish currency has been under pressure, having hit its weakest since 2009 against the euro earlier this week as markets bet the central bank will raise rates less aggressively than the European Central Bank due to domestic economic conditions. Markets are also digesting a series of remarks from Federal Reserve policymakers about the U.S. interest rate plans after Friday's stronger-than-expected jobs data and ahead of next week's closely watched inflation numbers. Williams's comments followed Chair Jerome Powell's sticking by his interest rate outlook on Tuesday, when he reiterated that a process of "disinflation" was under way.

☆ Dollar slips ahead of Fed rate decision
▼ + stars: | 2023-02-01 | by ( Joice Alves | ) www.reuters.com time to read: +3 min

LONDON, Feb 1 (Reuters) - The dollar weakened slightly against the euro ahead of Wednesday's eagerly awaited Federal Reserve policy decision, with investors hoping the U.S. central bank will signal an end to interest rate tightening cycle. After a series of jumbo rate increases in 2022 to tame inflation, the market expects the Fed benchmark interest rate to be raised by a quarter of a percentage point to 4.75%. That would be the smallest increase since the central bank began raising rates 10 months ago. Carol Kong, currency strategist at Commonwealth Bank of Australia, said: "Recent progress on inflation has encouraged market participants to expect the Fed to quickly pivot from interest rate hikes to interest rate cuts." EURO ZONE INFLATIONInvestors said that euro zone inflation data is unlikely to affect the European Central Bank's (ECB) monetary decision on Thursday.

☆ Dollar holds gains after U.S. data; traders eye Fed next week
▼ + stars: | 2023-01-27 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File PhotoNEW YORK, Jan 27 (Reuters) - The dollar clung to modest gains against the euro on Friday after data showed falling U.S. consumer spending and cooling inflation, and as investors awaited a slew of central bank meetings next week. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, dropped 0.2% last month, the Commerce Department said on Friday. Data for November was revised lower to show spending slipping 0.1% instead of gaining 0.1% as previously reported. Data showed consumer price inflation in Japan's capital accelerated to a nearly 42-year peak this month, piling pressure on the BOJ to step away from stimulus. Attention now turns to a slew of central bank policy decisions, with the Fed, European Central Bank and Bank of England (BoE) all due to make rate decisions next week as they judge what policy adjustments may be required in their battle with rampant inflation against a tough global economic backdrop.

☆ Dollar clings to gains after U.S. data; traders eye Fed next week
▼ + stars: | 2023-01-27 | by ( ) www.cnbc.com time to read: +3 min

The dollar clung to modest gains against the euro on Friday after data showed falling U.S. consumer spending and cooling inflation, and as investors awaited a slew of central bank meetings next week. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, dropped 0.2% last month, the Commerce Department said on Friday. Data for November was revised lower to show spending slipping 0.1% instead of gaining 0.1% as previously reported. Data showed consumer price inflation in Japan's capital accelerated to a nearly 42-year peak this month, piling pressure on the BOJ to step away from stimulus. Not necessarily in terms of rates for next week, but more the forward guidance central banks will provide," Harvey said.

The euro edged up 0.01% against the greenback to $1.0733 at 10:30 a.m. EST (1530 GMT), just below its seven-month high of $1.07605 hit Monday. Investors now expect rates to peak just under 5% by June, before starting to come down later in the year. The pause in the dollar's decline comes as traders ready themselves for U.S. Consumer Price Index (CPI) inflation data on Thursday. The China-sensitive Australian dollar spiked at a more than four-month peak of $0.6950 in the previous session. The offshore yuan last traded at 6.7878 per dollar, after hitting its strongest in five months of 6.7590 earlier in the session.

☆ Dollar stabilises near seven-month lows
▼ + stars: | 2023-01-10 | by ( Alun John | ) www.reuters.com time to read: +3 min

The euro was at $1.0736, little changed on the day, trading just below its seven-month high of 1.07605 hit Monday. The China-sensitive Australian dollar spiked at a more than four-month peak of $0.6950 in the previous session. The offshore yuan last traded at 6.7889 per dollar, after hitting its strongest in five months of 6.7590 earlier in the session. The dollar also steadied against the yen trading up 0.2% at 132.2 yen. The Japanese currency has been broadly strengthening after the Bank of Japan's (BOJ) surprise tweak to its yield curve policy late last year.

The euro was at $1.0731, little changed on the day, trading just below its seven-month high of 1.07605 hit Monday. The China-sensitive Australian dollar spiked at a more than four-month peak of $0.6950 in the previous session. The offshore yuan last traded at 6.7878 per dollar, after hitting its strongest in five months of 6.7590 earlier in the session. The dollar also steadied against the Japanese yen at 131.7 yen. The currency has been broadly strengthening firm after the Bank of Japan's (BOJ) surprise tweak to its yield curve policy late last year.

☆ Sterling inches higher, heads for biggest quarterly gain since 2009
▼ + stars: | 2022-12-20 | by ( Harry Robertson | ) www.reuters.com time to read: +2 min

Currency traders were focused on the Japanese yen, which jumped after the Bank of Japan (BoJ) unexpectedly tweaked a key policy. Sterling was last up 0.1% against the dollar at $1.216, having fluctuated in and out of positive territory in morning trading in London. The euro was 0.15% higher against sterling at 87.49 pence, meanwhile, after falling earlier in the session. The BoJ surprised global investors by tweaking its bond yield control policy on Tuesday. It will now allow the 10-year bond yield to move 50 basis points either side of its 0% target, from 25 basis points previously.

☆ Dollar gains after Fed meet, BOE and ECB in focus
▼ + stars: | 2022-12-15 | by ( Alun John | ) www.reuters.com time to read: +3 min

The dollar was also stronger versus the Swiss franc and Norwegian crown after their respective central banks kicked off a bumper day of central bank meetings, with Swiss rates rising 50 basis points and Norway's 25 basis points, as expected. The dollar traded at 9.8284 Norwegian crowns, up 1.3% on the day and the euro was up 0.6% at 10.434 crowns. The dollar rose 0.3% to 0.9279 francs, but pared its gains after the head of the Swiss National Bank said the central bank had been selling foreign currencies. "The Fed set the tone for central bank meetings this week and we're expecting others to go straight down the line. There is a possibility of a four-way split with different policy markers voting for no change or increases of 25, 50 and 75 basis points.

The greenback has been falling in recent weeks as inflation data and Federal Reserve commentary implied that it could soon slow the pace of its interest rate hikes. "We had a short covering euro rally and dollar sell off that's probably run its course now. The euro was last down 0.56% against the dollar at $1.0337 after falling as much as 0.86% earlier in the session. It was last down 0.95% at $1.18 after earlier falling as much as 1.25% in a move that one analyst said was largely driven by sentiment about the dollar. The greenback was last up 0.68% against the Japanese yen on Thursday to 140.4950 after falling earlier in the day.

[1/2] Pound and U.S. dollar banknotes are seen in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/IllustrationLONDON, Nov 17 (Reuters) - The dollar rose on Thursday as investors digested mixed U.S. economic data, while the British pound fell as the UK government unveiled its latest budget update. Yet the dollar climbed on Thursday after U.S. retail sales data for October, released on Wednesday, came in stronger than expected. Traders will also scrutinise speeches from numerous Fed officials on Thursday for hints about rate hikes. It plunged 3.7% on Thursday last week when U.S. consumer inflation data for October came in lower than expected.

REUTERS/Dado Ruvic/IllustrationSINGAPORE, Nov 17 (Reuters) - The dollar was little changed on Thursday as investors digested mixed U.S. economic data, while the British pound rose ahead of the government's budget update. Yet the dollar paused on Thursday after U.S. retail sales data for October, released on Wednesday, came in stronger than expected. "Markets have positioned for the Fed to pivot (but) the U.S. retail sales data very much challenges that narrative," said Commonwealth Bank of Australia currency strategist Kim Mundy. Traders will also scrutinise speeches from numerous Fed officials on Thursday for hints about rate hikes. China's yuan weakened 0.36% to 7.126 per dollar as new COVID cases caused concerns that officials could order more lockdowns.

☆ Instant View: UK finance minister Jeremy Hunt outlines budget
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +5 min

Much of Hunt's budget had been widely expected, meaning markets offered a muted reaction. Sterling fell against the dollar, while UK government bond prices also eased, but remained clear of the day's lows. FOREX: Sterling fell 0.9% against the dollar to $1.1809 from $1.1845 prior to the budget. MARCUS BROOKES, CHIEF INVESTMENT OFFICER AT QUILTER INVESTORS, LONDON:"Today’s Autumn Statement has painted a bleak picture for the UK... Markets originally reacted well to the steady hand of Jeremy Hunt. SIMON HARVEY, HEAD OF FX ANALYSIS, MONEX EUROPE, LONDON:"The austerity’s going to be welcome (to the Bank of England) purely because there’s going to be less support for UK consumers.

However, Biden said the weapon was probably not fired by Russia, although the investigation was ongoing. NATO ambassadors will hold an emergency meeting on Wednesday with a news conference due around 11.30 GMT. The European common currency was then knocked off that high, falling as low as $1.028 after news of the explosion in Poland sent traders to the safety of the dollar, which also caused falls in equities. "Geopolitical risks continue to hang over currency markets and are likely to remain a key driver of volatility," she said. The greenback was also down 0.15% on the Swiss franc at 0.9418, near Tuesday's seven-month low, and the dollar index, which tracks the greenback against six main peers, was 0.24% lower at 106.26.

☆ Sterling ticks up as UK inflation hits 41-year high
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +2 min

LONDON, Nov 16 Reuters) - Sterling rose against the U.S. dollar on Wednesday following UK inflation data that topped expectations and raised the chances of yet more interest rate hikes by the Bank of England (BoE). Despite sterling ticking up, the currency had traded flat in the hours after the inflation data was published, suggesting a muted reaction from traders. Earlier this week, data showed Britain's unemployment rate rose to 3.6% in the three months to September, above expectations for 3.5%. Quarterly GDP figures last week showed Britain's economy shrank by a less severe than-expected 0.2% in the three months to September. October retail sales data due on Friday will give further insight into consumer spending, which is a major pillar of the UK economy.

☆ Sterling slumps ahead of BoE decision after Fed hikes rates again
▼ + stars: | 2022-11-03 | by ( Harry Robertson | ) www.reuters.com time to read: +3 min

The Fed raised interest rates by 75 basis points (bps) for the fourth consecutive meeting on Wednesday, taking the target range to 3.75% to 4%. Michael Quinn, senior trader at Monex Europe, said the drop in sterling was driven by bets that the BoE will struggle to raise rates as high as the Fed. Higher rates - or the expectation of them - traditionally boost a country's currency by making investments there look more attractive. According to futures market pricing, traders think it's almost certain the BoE will raise rates by a lower 50 bps in December. Yet they think there's a 58% chance the Fed opts for another 75 bps hike .

☆ British pound and gilts soar after Hunt rolls back tax cuts
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +9 min

Jeremy Hunt on Friday replaced Kwasi Kwarteng, who Prime Minister Liz Truss sacked following the so-called "mini-budget" on Sept. 23 that sent UK assets sliding. Hunt on Monday announced a series of tax changes that he said would raise 32 billion pounds ($36.19 billion) a year in extra revenues. STERLING: The pound rose against the dollar and the euro, gaining 1.1% and 0.7%, respectively , . So the UK is not the outlier when it comes to its monetary policy and its fiscal policy. STUART COLE, HEAD MACRO ECONOMIST, EQUITI CAPITAL, LONDON:"I think it would be a brave person to be buying sterling quite yet.

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