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Search resuls for: "Soaring U.S"


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☆ Tesla and Truss, 5% and 150
  + stars: | 2022-10-20 | by ( ) www.reuters.com   time to read: +4 min
A Tesla model 3 car is seen in their showroom in Singapore October 22, 2021. read more The latest European tech sector earnings on Thursday were downbeat, too. Bank of England Deputy Governor Ben Broadbent said the BoE would respond to changes in Truss's tax and spending policies. read moreKey developments that should provide more direction to U.S. markets later on Thursday:* European Union summit in Brussels* U.S. Oct Philadelphia business index. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
☆ Analysis: G7 fails to reach intervention deal to ease pain of soaring dollar
  + stars: | 2022-10-16 | by ( Leika Kihara | ) www.reuters.com   time to read: +7 min
Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. With a strong push from Japan, finance leaders of the Group of Seven advanced economies included a phrase in a statement on Wednesday saying they will closely monitor "recent volatility" in markets. "Many countries saw the need for vigilance to the spill-over effect of global monetary tightening, and mentioned currency moves in that context. "I've said on many occasions that I think a market-determined value for the dollar is in America's interest. "It's impossible to reverse the yen's downtrend with solo intervention," said Daisaku Ueno, chief forex strategist at Mitsubishi UFJ Morgan Stanley Securities.
☆ Biden knocks Truss economic plan, says not concerned about dollar strength
  + stars: | 2022-10-15 | by ( Jeff Mason | ) www.reuters.com   time to read: +3 min
PORTLAND, Ore., Oct 15 (Reuters) - U.S. President Joe Biden on Saturday criticized British Prime Minister Liz Truss's original economic plan as a mistake and said he was not concerned about the strength of the soaring U.S. dollar. Biden, a Democrat, frequently criticizes conservative "trickle down" economic policies, associated in the United States with former President Ronald Reagan and Republicans. 1/2 British Prime Minister Liz Truss attends a news conference in London, Britain, October 14, 2022. It's worse off everywhere else than it is in the United States," he said. "So the problem is the lack of economic growth and sound policy in other countries, not so much ours."
☆ Analysis: Whipsawed forex traders say currency moves 'remarkable', resemble casino
  + stars: | 2022-09-27 | by ( Saqib Iqbal Ahmed Carolina Mandl Dhara Ranasinghe | Saqib Iqbal Ahmed | Carolina Mandl | ) www.reuters.com   time to read: +5 min
British Pound Sterling and U.S. Dollar notes are seen in this June 22, 2017 illustration photo. Deutsche Bank's Currency Volatility Index – the historical volatility index of the major G7 currencies - jumped to a two-and-a-half year high of 13.55 on Monday. While Sterling and the yen have fared extremely poorly against the dollar, the greenback's meteoric rise has spared no major currency. Reuters GraphicsMoves have surprised long-time currency traders and investors. "Our team is working around the clock from multiple global locations," said Kamboj, adding he is not trading sterling because the pound's direction now depends entirely on how the Bank of England reacts.
☆ Analysis: Crowd of dollar bulls raises risk of violent pullback
  + stars: | 2022-09-26 | by ( Saqib Iqbal Ahmed | ) www.reuters.com   time to read: +5 min
Some investors worry the dollar trade has become excessively crowded, raising the risk of a sharp unwind if the case for owning the currency changes and investors try to exit their positions all at once. International Monetary Market speculators held a net long U.S. dollar position of $10.23 billion for the week ended Sept. 20. Barring a brief period of peak pandemic-related uncertainty, broad net options positioning data going back to 2014 shows U.S. dollar long positions are the most stretched ever, according to Morgan Stanley. While a hotter-than-expected u.s. inflation report in August dashed those hopes and sent the dollar higher, the dangers stemming from the crowded dollar trade have only grown, investors said. But with the dollar scaling new multi-decade highs, positioning for a pullback can be painful.
☆ Factbox: A history of UK currency crises and crashes
  + stars: | 2022-09-26 | by ( ) www.reuters.com   time to read: +5 min
The currency fell as low $1.0327 at one point. read more It has fallen almost 8% since Thursday and 21% since the start of the year, a pace drawing comparisons with the currency crises that have marked Britain’s post-war history. Britain also used some creative accounting to hide the extent of its foreign exchange reserves losses, such as in a 12.5 billion pound "secret negative forward book". Against a soaring U.S. currency swelled by global trade imbalances, parity with the dollar - once unthinkable - became a real possibility. A briefing to the media in January 1985 from Prime Minister Margaret Thatcher’s press secretary, intended to reassure financial markets, backfired badly.
☆ Workforce at Alabama chicken plants includes migrant teens
  + stars: | 2022-02-07 | by ( ) www.reuters.com   time to read: +20 min
At Amelia’s request, Reuters agreed not to identify her hometown, the chicken plant where she now works, or the exact job she performs there. She said she was determined to get here because Rosa told her she could find work quickly. Amelia provided her new credentials to a staffing firm that supplies laborers to a local chicken plant, she said. Some firms deduct as much as $40 a week from employees’ paychecks for the service, four workers told Reuters. She rarely leaves Rosa’s trailer except to head to and from the chicken plant.
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