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☆ Dollar up as data highlights US economic resilience; yen slumps
▼ + stars: | 2023-09-22 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. The data comes on the heels of disappointing data from Europe, which showed that economic activity in France fell much more quickly than expected in September. Separate survey data covering the whole euro zone showed that the economy likely contracted in the third quarter. The yen dropped as low as 148.42 to the dollar, nearing the 150-mark at which analysts have said government intervention to prop up the currency is likely. BOJ maintains ultra-low interest ratesMeanwhile, sterling was 0.47% lower at $1.2237 after data showed that the UK economy slowed sharply in September and is likely on the brink of recession.

Persons: Florence Lo, Michael Brown, Brown, Michelle Bowman, Kazuo Ueda, we've, Alvin Tan, Shunichi Suzuki, BoE, Saqib Iqbal Ahmed, Harry Robertson, Rae Wee, Sharon Singleton, Matthew Lewis Organizations: U.S, REUTERS, P Global, Federal, Trader, Federal Reserve, Bank of Japan, Asia FX, RBC Capital Markets, Bank of England, Thomson Locations: United States, U.S, Europe, France, Asia, Tokyo, New York, London, Singapore

Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. The BOJ held interest rates at -0.1% on Friday and reiterated its pledge to keep supporting the economy until it's confident inflation will stay at the 2% target. "We have yet to foresee inflation stably and sustainably achieve our price target," BOJ Governor Kazuo Ueda said in a press conference. The yen dropped as low as 148.42 to the dollar, nearing the 150-mark at which analysts have said government intervention to prop up the currency is likely. It was on track to eke out a weekly increase of around 0.2%, its 10th rise in as many weeks.

Persons: Florence Lo, Kazuo Ueda, we've, Alvin Tan, Shunichi Suzuki, RBC's Tan, Treasuries, Ray Sharma, Ong, Sterling, BoE, Harry Robertson, Rae Wee, Christopher Cushing, Sonali Paul, Christina Fincher Organizations: U.S, REUTERS, Bank of Japan, Federal Reserve, Asia FX, RBC Capital Markets, Japan's Finance, Ministry, Finance, Bank of England, Thomson Locations: SINGAPORE, France, Asia, Tokyo, London, Singapore

☆ Yen falls after BOJ stands pat on easy policy; dollar elevated
▼ + stars: | 2023-09-22 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. The yen last bought 148.09 per U.S. dollar. Sterling similarly eked out a 0.3% gain against the Japanese currency to trade at 181.80 yen. "I guess people were expecting the BOJ to leave policy unchanged but perhaps tweak the wording a bit to remove the accommodative stance." The New Zealand dollar edged 0.08% higher to $0.5936 and was eyeing a weekly gain of more than 0.5%.

Persons: Florence Lo, Kazuo Ueda, Sterling, Siong Sim, Shunichi Suzuki, Ray Sharma, Ong, BoE, Daniela Hathorn, Rae Wee, Christopher Cushing Organizations: U.S, REUTERS, Rights, Bank of Japan, Bank of Singapore, Treasury, Federal Reserve, Japan's Finance, New Zealand, Fed, Bank of England, Capital.com, Thomson Locations: Rights SINGAPORE

☆ NASA scientists calculated the exact date an asteroid could hit Earth with the force of at least 24 nuclear bombs. Thankfully, it's a long way off.
▼ + stars: | 2023-09-22 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +6 min

Asteroid Bennu has a slim chance of hitting our planet on September 24, 2182, NASA said. It would release as much energy as about 24 nuclear bombs, so NASA is keeping a close eye on it. Dust grabbed from the asteroid by NASA's Osiris-Rex spacecraft is due to arrive on Earth on Sunday. NASA scientists are keeping a close eye on asteroid Bennu, a 1,610-foot-wide cosmic object that could smash into our planet. Bennu was photographed under all angles by NASA's Osiris-Rex mission.

Persons: NASA's Osiris, Tsar Bomba, NASA's, — it's, there's, Bennu, Rex Organizations: NASA, Service, Empire, Eiffel, NASA's Goddard Space Flight, University of Arizona NASA, NASA's Goddard Space Locations: Wall, Silicon, Bennu, Chelyabinsk, Russia, Utah

LONDON (AP) — Before he hit America, Rupert Murdoch ripped through Britain’s media like a tornado. But politicians from both right and left courted and feared Murdoch, who added The Times and Sunday Times to his stable in 1981. Like other politicians, Blair denied giving Murdoch anything in return for his support — though plenty of skeptics doubted that. For now, Rupert Murdoch remains a magnet for the powerful, and those who seek power, in Britain. The guest list for his summer party in June included Prime Minister Rishi Sunak, many members of his Cabinet and opposition Labour Party leader Keir Starmer.

Persons: Rupert Murdoch, Lachlan, Murdoch, Boris Johnson, “, Nathan Sparkes, Murdoch “, Jeremy Corbyn, Jeremy Hunt, Britain’s, couldn’t, ”, Jacques Delors, Margaret Thatcher, Thatcher’s, John Major, Sun wot, Tony Blair’s, Blair, ” Blair, Andy Coulson, Prince Harry, Lachlan Murdoch, Rishi Sunak, Keir Starmer, James, Kathryn Murdoch Organizations: Fox, News Corp, Times, ”, Labour Party, Treasury, LBC, BBC, European, Argentine, Liverpool, Sunday Times, Thatcher’s Conservative, Sun, Blair’s Labour Party, Murdoch’s News Corp, The Sun, Sky Television, Premier League soccer, Sports, BSkyB, Comcast, AP Locations: London, Australian, Britain, British, Hillsborough, ___

“Russia’s thinly veiled threats to use nuclear weapons remind the world that escalation of the conflict – by accident, intention, or miscalculation – is a terrible risk. New Construction at Russia's Novaya Zemlya nuclear test site, June 22, 2023. Lop Nur nuclear test site. “The Chinese test site is different than the Russian test site,” Lewis said. Both countries keep their strategic nuclear arsenals on “hair-trigger” alert, meaning that nuclear weapons can be launched on short notice.

Persons: Jeffrey Lewis, James Martin, ”, Cedric Leighton, “, Vladimir Putin, ” Lewis, Lewis ’, António Guterres, ” Guterres, Dmitry Medvedev, Putin, Alexander Lukashenko, Sergei Shoigu, Lewis, we’ve, Leighton, they’d, ” Leighton, Nur, Hans Kristensen, Kristensen, Israel –, Dyess, Frederic J . Brown, Fiona Cunningham, Yang Kun, ” Daryl Kimball, Kimball, Michael Frankel, James Scouras, George Ullrich, Soviet Union –, Russia –, We’re Organizations: CNN, James, James Martin Center, Nonproliferation Studies, Middlebury Institute of International Studies, US, US Air Force, Atomic Scientists, Soviet Union, United Nations, Russia’s Security, Russian Defense Ministry, Planet Labs PBC, Middlebury, Science and Global Security, Novaya, Middlebury Institute, China Observer, China’s Foreign Ministry, Planet Labs, Nevada National Security, National Security Administration, US Department of Energy, Office, National Security Council, International Monitoring, Federation of American Scientists, Stockholm International Peace Research Institute, Missile Defense, Center for Strategic, International Studies, Columbia, Northrop Grumman's Air Force, Getty, Control Association, ACA, NGO, PLA, Nuclear, Carnegie Endowment, International, Arms Control Association, Johns Hopkins Applied Physics Laboratory, Soviet Locations: Russia, United States, China, Xinjiang, Nevada, . China, Moscow, Washington, Ukraine, Soviet, Belarus, Minsk, Novaya Zemlya, Zemlya, Soviet Union, Lop Nur, Japan, Lop, Beijing, Stockholm, United Kingdom, France, India, Pakistan, North Korea, Israel, Ellsworth, Palmdale , California, AFP, Yuli County, Mongol Autonomous Prefecture, Xinjiang Uygur Autonomous Region, Baltimore, Russian, Hiroshima

☆ Yen under pressure as U.S. Treasury yields push over-decade peaks
▼ + stars: | 2023-09-22 | by ( ) www.cnbc.com time to read: +3 min

A bundle of Japanese 10,000 yen banknotes on a tray arranged at a branch of Resona Bank Ltd. in Tokyo, Japan. The yen was held at the mercy of soaring U.S. Treasury yields on Friday ahead of a closely watched rate decision by the Bank of Japan, or BOJ, while the dollar stood near a six-month peak on the prospect of higher-for-longer U.S. rates. The Japanese currency was last marginally lower at 147.6 in early Asia trade, languishing near the previous session's more than 10-month low of 148.465. The yen was also kept under pressure as a result of elevated U.S. Treasury yields, which scaled multi-year highs in the previous session as markets reeled from a hawkish pause by the Federal Reserve on Wednesday. The U.S. dollar likewise rode Treasury yields higher and against a basket of currencies, the greenback touched a more than six-month high of 105.74 in the previous session.

Persons: Daniel Hurley, Rowe Price, Ray Sharma, Ong, Sterling, BoE, Daniela Hathorn Organizations: Resona Bank, Treasury, Bank of Japan, Federal Reserve, U.S, New Zealand, Fed, Bank of England Locations: Tokyo, Japan, Asia

☆ It was a big week for interest rates. Here’s what you need to know
▼ + stars: | 2023-09-22 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

CNN —Central bank officials around the world relayed a somewhat unified message this week to the global economy: Inflation is coming down, but the battle is far from won. Most held rates steady, taking a breather from a historic pace of interest rate hikes to stabilize skyrocketing prices. United States: The Federal Reserve in September paused interest rates for the second time after first hitting the brakes in June. The central bank has hiked rates 11 times since last March. While central banks took steps to pause interest rates this week, they kept future hikes on the table.

Persons: ”, Brian Henderson, Nate Thooft, TikTok, Nnete Matima, Catherine Thorbecke, Clare Duffy, TikTok’s, George Floyd, ” Matima, ByteDance, Matima, Anna Bahney, —, Read Organizations: CNN Business, Bell, CNN, Federal Reserve, Fed, BOK Financial, United, Bank of England, Swiss National Bank, Manulife Investment Management, National Association of Realtors, That’s, NAR Locations: United States, United Kingdom, Switzerland, TikTok, Northeast, Midwest, South

☆ Dollar eases after Fed-spurred rise; yen stronger ahead of BOJ
▼ + stars: | 2023-09-21 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

[1/3] Euro, Hong Kong dollar, U.S. dollar, Japanese yen, pound and Chinese 100 yuan banknotes are seen in this picture illustration, January 21, 2016. The Japanese yen strengthened against the greenback before Friday's Bank of Japan policy announcement, while the pound and the Swiss franc slipped after the British and Swiss central banks kept rates unchanged. The BOJ will end its negative interest rate policy next year, the majority of economists said in a Reuters poll, as the market has begun to envisage the demise of its ultra-easy monetary settings. The pound fell to its lowest since March after the Bank of England held interest rates steady on Thursday, following a cooler-than-expected inflation report the previous day. Meanwhile, Sweden's Riksbank and Norway's central bank both raised rates by 25 basis points, in line with expectations.

Persons: Jason Lee, Helen, Powell didn't, BoE, Monex's, Brad Bechtel, Sweden's, bitcoin, Saqib Iqbal Ahmed, Sam Holmes, Shri Navaratnam, Sharon Singleton, Richard Chang Organizations: Hong, REUTERS, U.S, Federal Reserve, Friday's Bank of Japan, Swiss, British, Fed, Monex, ECB, Traders, FX, Jefferies, Bank of England, Swiss National Bank, Thomson Locations: Hong Kong, Swiss, Japan, Swedish, Norwegian

☆ Dollar reigns as Europe's central banks spring some surprises
▼ + stars: | 2023-09-21 | by ( Marc Jones | ) www.reuters.com time to read: +5 min

"It punctures the balloon on terminal rates and also creates more second guessing on the quality of the (economic) landings". With a crucial Bank of Japan meeting still to come this week, Japan's 10-year government bond yield rose to its highest in a decade. Ben Luk, senior multi-asset strategist at State Street Global Markets said the overall tone of the Fed's meeting on Wednesday, while not overly hawkish, included two surprises. The median forecast for the federal funds rate is 5.1% by year-end, up from 4.6% estimated in June. Additional reporting by Xie Yu in Hong Kong Editing by Shri Navaratnam and Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

Persons: BoE, Bond, John Hardy, Hardy, Goldman Sachs, Tom Hopkins, Ben Luk, Wall, Brent, clawing, Gold, Xie Yu, Shri Navaratnam, Tomasz Janowski Organizations: Sterling, Swiss, U.S . Federal Reserve, Dealers, Swiss National Bank, Bank of England, Saxo Bank, BRI Wealth Management, Treasury, Reuters Graphics, Apple, Nvidia, Japan's Nikkei, of Japan, State Street Global Markets, Thomson Locations: Europe, Britain, Sweden, Norway, Turkey, U.S, Asia, Pacific, Japan, Saudi Arabia, Russia, Hong Kong

☆ Pound, franc slide as central banks pause hikes; dollar holds firm
▼ + stars: | 2023-09-21 | by ( Samuel Indyk | ) www.reuters.com time to read: +4 min

The euro rose as high as 0.9677 francs and is set for its biggest one-day rise since June. The dollar rose 0.8% to 0.9053 francs , hitting its highest level since June 13. "The Swiss franc has understandably weakened after the surprise hold in the policy rate today," ING strategists said in a note. Meanwhile, Sweden's Riksbank and Norway's central bank both raised rates by 25 basis points, in line with expectations. Although you never know for sure with this central bank," said Matt Simpson, senior market analyst at City Index.

Persons: Dado Ruvic, Sterling, Goldman Sachs, Michael Cahill, Sweden's, Niels Christensen, Matt Simpson, Samuel Indyk, Brigid Riley, Kevin Buckland, Sam Holmes, Shri Navaratnam, Sharon Singleton Organizations: REUTERS, Swiss, British, U.S . Federal Reserve, Friday's Bank of Japan, Bank of England, Swiss National Bank, ING, Fed, Bank of Japan, New Zealand, NZ, Thomson Locations: Swiss, Sweden, Norway, Swedish, Norwegian

☆ Bank of England pauses interest rate hikes as inflation falls
▼ + stars: | 2023-09-21 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —The Bank of England paused its historic interest rate hiking campaign for the first time in nearly two years Thursday after inflation fell unexpectedly in August. The Federal Reserve also kept rates on hold Wednesday, as did Switzerland’s central bank earlier on Thursday. The Bank of England did not rule out further rate increases, however, although it said it expected headline inflation to “fall significantly” in the near term, reflecting lower energy and food inflation. Economists polled by Reuters had forecast inflation would rise to 7% — from 6.8% in July — because of higher oil prices. “There is an air of underlying weakness,” chief UK economist at Capital Economics Paul Dales said about July’s GDP data.

Persons: Martin Beck, insolvencies, Capital Economics Paul Dales Organizations: London CNN —, Bank of England, Federal, Reuters, Office, National Statistics, Capital Economics Paul Locations: United Kingdom, —

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. Rate-sensitive stocks including Tesla (TSLA.O), Meta Platforms (META.O), Amazon.com (AMZN.O), Alphabet (GOOGL.O), and Nvidia (NVDA.O) fell between 1.5% and 3.0% as the two-year and 10-year Treasury yields , scaled multi-year highs. The benchmark interest rate could be hiked one more time in 2023 to a peak range of 5.50%-5.75%, while monetary policy could stay tighter than was expected through 2024, the Fed's updated quarterly projections showed. Declining issues outnumbered advancers by a 7.06-to-1 ratio on the NYSE and by a 3.86-to-1 ratio on the Nasdaq. The S&P index recorded two new 52-week highs and 16 new lows, while the Nasdaq recorded seven new highs and 207 new lows.

Persons: Brendan McDermid, Sam Stovall, Stovall, Rupert Murdoch, Ankika Biswas, Shristi, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, FedEx, Broadcom, Google, Dow, Nasdaq, Federal Reserve, Nvidia, Semiconductor, Marvell Technology, SOX, Wall, Research, Arm Holdings, Dow Jones, Fox Corp, News Corp, NYSE, Thomson Locations: New York City, U.S, Philadelphia, New York, Bengaluru

☆ 10-year yields hit 16-year peak as Fed seen higher for longer
▼ + stars: | 2023-09-21 | by ( Karen Brettell | ) www.reuters.com time to read: +3 min

The U.S. central bank held interest rates steady, as was widely expected, and said that its benchmark overnight interest rate may still be lifted one more time this year to a peak 5.50%-5.75% range. He added that "we want to see convincing evidence really, that we have reached the appropriate level" of interest rates to return inflation to the Fed's 2% target. Benchmark 10-year note yields hit 4.490%, the highest since November 2007. Interest rate sensitive two-year yields reached 5.202%, the highest since July 2006. The U.S. Treasury Department will sell $15 billion in 10-year Treasury Inflation-Protected Securities (TIPS) on Thursday.

Persons: Murad Sezer, Will Compernolle, Compernolle, Jerome Powell, Karen Brettell, Alexander Smith Organizations: REUTERS, Treasury, Federal Reserve, United Auto Workers, UAW, U.S . Treasury Department, Securities, Thomson Locations: U.S, New York

☆ Yen worries increase as dollar strengthens after Fed
▼ + stars: | 2023-09-21 | by ( ) www.cnbc.com time to read: +3 min

Japanese 10,000 yen and U.S. 100 dollar banknotes are arranged for a photograph in Tokyo, Japan, on Sept. 7, 2017. The dollar hit fresh peaks on Thursday, sitting around its highest against the yen since November after a hawkish pause by the U.S. Federal Reserve. The Fed met market expectations at its monetary policy meeting on Wednesday, holding interest rates steady at the 5.25% to 5.50% range. The index climbed for its ninth straight week last week, its longest winning streak in nearly a decade as resilient U.S. growth fueled a rebound in the dollar. The Japanese yen was feeling the heat after the Fed meeting, hovering around 148.39 per dollar and just off a fresh low of 148.47, its weakest since November.

Persons: Sterling, Ueda, Carol Kong, BOE Organizations: U.S . Federal Reserve, Bank of England, Fed, U.S, Bank of Japan, Commonwealth Bank of Australia, Bank of, CPI, National Australia Bank Locations: Tokyo, Japan, U.S

In a development that few predicted just two days ago, the central bank kept its main interest rate unchanged at a 15-year high of 5.25%. The U.S. Federal Reserve also left rates unchanged Wednesday. While the decision to leave rates unchanged is a welcome development, it doesn't mean that Britain's cost-of-living crisis has ended. The Swiss National Bank also kept rates unchanged Thursday, but in a busy day for central bank action in Europe, Sweden's and Norway's central banks pushed ahead with quarter-point hikes. The European Central Bank, which sets interest rates for the 20 European Union countries that use the euro currency, last week hinted that its 10th straight hike could be its last.

Organizations: —, Bank of England, The U.S . Federal Reserve, Monetary, Swiss National Bank, European Central Bank, Union Locations: Ukraine, The, Russia, U.S, Britain, Europe

A day after Britain's fast pace of price growth unexpectedly slowed, the BoE's Monetary Policy Committee voted by the narrowest margin of 5-4 to keep Bank Rate at 5.25%. But rate futures suggested they still saw a 50% chance of Bank Rate rising to 5.5% by the end of this year. Britain's economy, hit hard by Brexit, the COVID-19 pandemic and the surge in gas prices triggered by Russia's invasion of Ukraine, has been struggling with the highest inflation rate in the Group of Seven. But growth remains fragile, heightening the risk that the BoE's 14 back-to-back rate hikes will push the economy into a recession. Last week, the European Central Bank raised rates but suggested its move might be the last for now.

Persons: Andrew Bailey, Jon Cunliffe, Megan Greene, Jonathan Haskel, Catherine Mann, BoE, Reuters Graphics Sterling, Bailey, Rishi Sunak, Peter Nicholls, Frances Haque, Reuters Graphics Bailey, Yael Selfin, Hugh Gimber, William Schomberg, Catherine Evans Organizations: Bank of England, Reuters Graphics, U.S ., MPC, REUTERS, Santander UK, IF, U.S . Federal Reserve, European Central Bank, KPMG, Investors, Bank of, Morgan Asset Management, Thomson Locations: Ukraine, London, Britain

☆ Stocks waver, short-end U.S. yields rise after hawkish Fed statement
▼ + stars: | 2023-09-20 | by ( Herbert Lash | ) www.reuters.com time to read: +5 min

"They're talking about higher rates for longer, but it's really the economy that matters. MSCI's U.S.-centric gauge of stocks across the globe (.MIWD00000PUS) fell 0.25% as stocks on Wall Street mostly slid. "Right now the message is we're going to leave rates higher for longer to make sure we slay the inflation dragon. Sterling came under pressure after data showed Britain's high inflation rate fell unexpectedly in August, prompting speculation that the Bank of England could pause its historic run of interest rate hikes as soon as Thursday. The dollar index rose 0.076%, with the euro down 0.02% to $1.0675.

Persons: Brendan McDermid, Jerome Powell, Powell, Gennadiy Goldberg, it's, Anthony Saglimbene, Sterling, Brent, Herbert Lash, Dhara Ranasinghe, Samuel Indyk, Tom Westbrook, Toby Chopra, Chizu Nomiyama, Sharon Singleton, Aurora Ellis Organizations: New York Stock Exchange, REUTERS, Global, Federal Reserve, Market, Fed, TD Securities, Dow Jones, Nasdaq, Japan's Nikkei, Bank of England, Bank of, U.S, West Texas, Thomson Locations: New York City, U.S, New York, MSCI's U.S, Troy , Michigan, Europe, Asia, Pacific, Japan, Sweden, Switzerland, Norway, Britain, London, Singapore

☆ Dollar higher as Fed skips rate hike but stiffens hawkish stance
▼ + stars: | 2023-09-20 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

As they did in June, Fed policymakers at the median still see the central bank's benchmark overnight interest rate peaking this year in the 5.50%-5.75% range, just a quarter of a percentage point above the current range. But from there, the Fed's updated quarterly projections show rates falling only half a percentage point in 2024 compared with the full percentage point of cuts anticipated at the meeting in June. Interest rate sensitive two-year Treasury yields hit 17-year highs on Wednesday after the Fed decision. "It looks as though the Fed is trying to send as hawkish a signal as it possibly can," said Gennadiny Goldberg, interest rate strategist at TD Securities. The yen was down 0.13% versus the greenback at 148.05 per dollar after the Fed decision.

Persons: Dado Ruvic, Karl Schamotta, Schamotta, Jerome Powell, Gennadiny Goldberg, Dominic Bunning, BoE, Masato Kanda, Janet Yellen, bitcoin, Saqib Iqbal Ahmed, Herbert, Joice Alves, Brigid Riley, Marguerita Choy, Jonathan Oatis Organizations: REUTERS, U.S, Federal Reserve, TD Securities, Bank of England, Reuters, FX Research, HSBC, Washington, Treasury, Thomson Locations: Toronto, Japan, U.S, New York, London, Tokyo

☆ U.K. Inflation Falls Unexpectedly, Easing Pressure on Bank of England
▼ + stars: | 2023-09-20 | by ( Paul Hannon | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones, bdaa4bdc Locations: england

Yet in Europe, sterling came under pressure after data showed Britain's high inflation rate fell unexpectedly in August, prompting speculation that the Bank of England could pause its historic run of interest rate hikes as soon as Thursday. Two-year Treasury yields were down 3.5 basis points in London trade at 5.07%, having risen sharply on Tuesday, when five- and 10-year Treasury yields reached 16-year highs. World stock markets were edging higher ahead of the Fed rate decision. UK gilt yields fell sharply as investors slashed bets for a rate hike on Thursday, with two-year yields last down over 14 bps at 4.85% . "Combined with their recent dovish commentary, we now expect the MPC to keep Bank Rate unchanged tomorrow and lower our forecast for the terminal policy rate to 5.25%," Stehn and co. added.

Persons: DAX, Kai Pfaffenbach, Jerome Powell, Lee Hardman, Sterling underperformed, Goldman Sachs, Sven Jari Stehn, Stehn, Masato Kanda, Eugene Low, Dhara Ranasinghe, Samuel Indyk, Tom Westbrook, Toby Chopra, Chizu Organizations: REUTERS, Sterling, U.S, Treasury, Federal Reserve, Bank of England, Brent, Federal, Fed, Japan's Nikkei, MPC, Monetary, Bank of, New Zealand, Thomson Locations: Frankfurt, Germany, Europe, Saudi Arabia, Russia, U.S, London, Sweden, Switzerland, Norway, Britain, Japan, Asia, Pacific, Hong Kong, China, Singapore

☆ Dollar edges down before Fed decision, sterling falls on cooling UK inflation
▼ + stars: | 2023-09-20 | by ( Joice Alves | ) www.reuters.com time to read: +4 min

The U.S. dollar index , which measures the currency against a basket of rivals, was 0.1% lower at 105.00. The pound was volatile, last down 0.23% to $1.2364 after touching its lowest in almost four months following data showing UK inflation slowed more than expected in August. "This can drag GBP down, especially against the USD where pricing for rate cuts may already be overstretched". The yen flattened at 147.87 after touching a fresh 10-month weak-point against the dollar of 148.17 ahead of the Fed decision. The offshore yuan was unchanged at 7.3055 after China met market expectations by keeping its benchmark lending rates unchanged on Wednesday.

Persons: Dado Ruvic, BoE, Dominic Bunning, Bunning, Goldman Sachs, Powell, Elsa Lignos, Masato Kanda, Janet Yellen, Joice Alves, Brigid Riley, Gerry Doyle, Emelia Organizations: REUTERS, Federal Reserve, Bank of England, U.S, Reuters, FX Research, HSBC, FX, RBC Europe, Washington, Treasury, Bank of Japan's, Thomson Locations: Japan, U.S, China, London, Tokyo

☆ Stocks stalled as oil surge sets stage for longer US rate peak
▼ + stars: | 2023-09-20 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

But at $93.52 a barrel, prices remain up 30% in three months as Saudi Arabia and Russia reduce output. Benchmark 10-year Treasury yields had hit their highest since 2007 at 4.371% overnight and were last at 4.36%. The yen is down 11% on the dollar this year as expectations firm for U.S. rates to stay high and Japanese rates to stay low. The yen hit a 10-month trough of 147.95 to the dollar late last week and it traded at 147.85 on Wednesday. Rising yields have kept a lid on gold prices, with spot gold last trading at $1,929 an ounce.

Persons: Brent, Stocks, Jerome, Sam Rines, Powell presser, Masato Kanda, Eugene Low, Miral Fahmy, Jamie Freed Organizations: Federal Reserve, Brent, FTSE, Japan's Nikkei, Bank of, New Zealand, Thomson Locations: SINGAPORE, Asia, Saudi Arabia, Russia, Pacific, Japan, Hong Kong, China, Texas, Sweden, Switzerland, Norway, Britain, U.S, Singapore, Australia, Argentina

UK Inflation in Surprise Fall in August, Though Bank of England Still Set to Raise RatesInflation in Britain fell unexpectedly in August to its lowest level since the start of Russia’s invasion of Ukraine, which led to sharp rises in energy and food costs

Organizations: Bank of England Locations: Britain, Ukraine

☆ Rishi Sunak’s plans to delay climate targets attacked, as UK government pushes anti-green drive
▼ + stars: | 2023-09-20 | by ( Rob Picheta | ) edition.cnn.com time to read: +7 min

In an attack on his own Conservative predecessors as prime minister, Sunak said: “You don’t reach net zero simply by wishing it. The Climate Change Committee, the government’s independent adviser on climate change, published a report in June that criticized the UK’s net zero plans and said there was not enough urgency to reach the country’s goals. Britain is legally required to have reached net zero – meaning the country would remove from the atmosphere at least as much planet-warming pollution as it emits – by 2050. Johnson’s comments led a chorus of concerns from within Sunak’s Conservative party at the plans, which were apparently hurriedly brought forward after Tuesday’s leaks to the media. British businesses also criticized Sunak’s plans on Wednesday.

Persons: Rishi Sunak, Sunak, ” Boris Johnson, ” Johnson, ”, Dan Kitwood, pushback Sunak, “ We’ve, ” Sunak, “, … I’ve, Alok Sharma, ” Sharma, Chris Skidmore, Rob Picheta, Mike Childs, Sunak’s, Lisa Brankin, Ed Matthew, ” “ Organizations: London CNN, United, Conservative, Labour, “, Sunak’s Conservative, BBC, PA Media, London's Labour, CNN, Ambition, UN, Ford, European Union Locations: Britain, United Kingdom, Glasgow, Sunak’s, London, Uxbridge, South Ruislip, New York, United States, China

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