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☆ Strong dollar sends yen to 11-month low, focus on intervention risks
▼ + stars: | 2023-09-25 | by ( Joice Alves | ) www.reuters.com time to read: +3 min

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. In the broader currency market, the dollar steadied after last week's gains as the Federal Reserve surprised markets by signalling U.S. rates would need to stay higher for longer than initially expected. The yen was last flat at 148.38 per dollar after falling to its lowest level of 148.49 per dollar since late October. "It is possible of course that exactly such fears of interventions might have prevented a weaker yen for now". The dollar index , which on Friday touched an over six-month high, firmed at 105.64 and was last 0.1% higher.

Persons: Florence Lo, Kazuo Ueda, Ueda, Esther Reichelt, Reichelt, Francois Villeroy de Galhau, Sterling, Joice Alves, Rae Wee, Ed Osmond Organizations: U.S, REUTERS, Bank of Japan, Federal Reserve, European Central Bank, Bank, Thomson Locations: Japan, London, Singapore

Asian shares are lower, tracking a slump on Wall Street after the Federal Reserve said it may not cut interest rates next year by as much as it earlier thought. U.S. stocks slumped Wednesday after the Federal Reserve said it may not cut interest rates next year by as much as it earlier thought, regardless of how much Wall Street wants it. The Fed held its main interest rate steady at its highest level in more than two decades, as was expected. Wednesday on Wall Street, the S&P 500 fell 0.9% to 4,402.20. Shares of Klaviyo, which helps advertisers market over email and text messaging, rose 9.2% in their first day of trading.

Persons: Jerome Powell, it’s, ” Anderson Alves, ActivTrades, Hang Seng, Australia's, Grant Robertson, Fonterra, Powell, ” Powell, Instacart, Brent, Nick Perry Organizations: Federal Reserve, Fed, Nikkei, Toshiba Corp, Statistics New, Finance, Zealand, Dow Jones, Nasdaq, Treasury, Big Tech, Microsoft, Apple, Nvidia, Arm Holdings, New York Mercantile Exchange, U.S Locations: U.S, Shanghai, Seoul, Statistics New Zealand, China, Wellington , New Zealand

☆ 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

☆ 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

☆ Euro, sterling slide versus dollar ahead of U.S. inflation data
▼ + stars: | 2023-09-13 | by ( Joice Alves | ) www.reuters.com time to read: +4 min

The dollar index , which tracks the currency against six peers including yen, euro and sterling, held firm, though moves were subdued, up 0.13% to 104.73, as traders awaited the U.S. consumer price index (CPI) reading for August. The release comes just a week before Federal Reserve officials gather to decide on interest rate policy. The euro fell 0.2% to $1.0731 as markets raised their bets on further ECB rate hikes despite recent data showing the decline in euro zone business activity accelerated faster than initially thought last month. A source told Reuters that the ECB expects inflation in the 20-nation euro zone to remain above 3% next year, bolstering the case for a 10th consecutive interest rate increase on Thursday. YEN RETRACES GAINSThe yen fell as traders further digested comments from Japan's top central banker on a possible early exit from its negative interest rate policy.

Persons: Dado Ruvic, CME's, BoE, Stephen Gallo, Jim Reid, Deutsche Bank . Sterling, YEN RETRACES, Hiroshige Seko, Kazuo Ueda's, Ueda, Joice Alves, Brigid Riley, Alison Williams, Mark Heinrich Our Organizations: REUTERS, Sterling, European Central Bank, Federal Reserve, Federal, ECB, FX, BMO Capital Markets, U.S, CPI, Reuters, Deutsche Bank ., Bank of Japan, Fed, Thomson Locations: U.S, Japan, London, Tokyo

☆ Dollar edges up ahead of inflation reading, euro awaits ECB decision
▼ + stars: | 2023-09-13 | by ( Joice Alves | ) www.reuters.com time to read: +4 min

The dollar index , which tracks the currency against six peers including yen, euro and sterling, held firm, though moves were subdued, up 0.1% to 104.70, as traders awaited the U.S. consumer price index (CPI) reading for August. The release comes just a week before Federal Reserve officials gather to decide on interest rate policy. Elsewhere, the euro edged 0.1% lower to $1.0742 ahead of the ECB meeting on Thursday. A source told Reuters that the ECB expects inflation in the 20-nation euro zone to remain above 3% next year, bolstering the case for a 10th consecutive interest rate increase on Thursday. YEN RETRACES GAINSThe yen fell as traders further digested comments from Japan's top central banker on a possible early exit from its negative interest rate policy.

Persons: Dado Ruvic, CME's, Jim Reid, Deutsche Bank . Sterling, YEN RETRACES, Hiroshige Seko, Kazuo Ueda's, Ueda, Joice Alves, Brigid Riley, Alison Williams Organizations: REUTERS, European Central Bank, Federal Reserve, Commerzbank, ECB, Reuters, Deutsche Bank ., Bank of Japan, Fed, Thomson Locations: Japan, London, Tokyo

Yes to life" take part in a anti-lithium protest in Covas do Barroso, Portugal, August 15, 2023. With 60,000 tonnes of known reserves, Portugal is already Europe's biggest producer of lithium, traditionally mined for ceramics. Referring to the Barroso project and another in France, he said it would be "a disaster if either ... doesn't succeed". But with only 15 of 916 submissions in a public consultation supporting the project, Savannah faces a struggle to win over locals who have said they will fight it and the APA in court. "Politicians listen to those who shout loudest and have most money - and that's the mining industry," she said.

Persons: Catarina Demony, Maria Loureiro, Loureiro, Barroso, Martin Jackson, , Savannah's, Michael Schmidt, doesn't, Schmidt, Nelson Gomes, Greta Thunberg, Karin Kvarfordt Niia, LKAB's, Anders Lindberg, UDCB's Catarina Alves Scarrott, Aida Fernandes, Barroso's, Dale Ferguson, Ferguson, Emanuel Proenca, Teresa Camille, Gunilla Hogberg Bjorck, Miguel Pereira, Covas do Barroso, Pietro Lombardi, Simon Johnson, Aislinn Laing, Catherine Evans Organizations: REUTERS, Savannah Resources, DO BARROSO, EU, Agriculture Organization, CRU, APA, State, Barroso, Reuters, UDCB, Thomson Locations: Covas do Barroso, Portugal, Barroso, China, London, Savannah, Europe, France, Kiruna, Sweden's, Montalegre, Scarrott, Portuguese, EUROPE, Chile, Covas, Karr, Covas do, Madrid, Stockholm

☆ Sigma Lithium to explore alternatives after proposals for miner, Brazil unit
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +1 min

Workers of Sigma Lithium Corp are seen at the Grota do Cirilo mine in Itinga, in Minas Gerais state, Brazil April 18, 2023. REUTERS/Washington Alves/File Photo Acquire Licensing RightsSept 13 (Reuters) - Miner Sigma Lithium (SGML.V), said on Wednesday it is evaluating strategic alternatives for the whole company, including its Brazilian unit, sending the company's U.S.-listed shares up 14.8% in premarket trading. The company said it has received multiple proposals for its Grota do Cirilo project in Brazil, Sigma Brazil and parent company Sigma Lithium. The proposals were from "global industry leaders in the energy, auto, batteries and lithium refining industries", according to Sigma Lithium. Sigma Lithium CEO Ana Cabral-Gardner said in July that Bank of America was coordinating talks with parties interested in acquiring it.

Persons: Washington Alves, Calvyn Gardner, Ana Cabral, Gardner, Sourasis Bose, Shounak Dasgupta Organizations: Sigma Lithium Corp, REUTERS, Sigma, Sigma Lithium, of America, LG Energy, Thomson Locations: Itinga, Minas Gerais, Brazil, U.S, Sigma Brazil, Vancouver , British Columbia, Bengaluru

TOKYO (AP) — Asian shares were trading mixed Tuesday following a Big Tech rally on Wall Street, as investors awaited an update on U.S. consumer prices set for later in the week. The Federal Reserve is weighing whether to keep raising interest rates steady in its effort to get inflation back to 2%. Monday on Wall Street, the S&P 500 rose 0.7% to 4,487.46, coming off its first losing week in the last three. How Apple performs has great consequence for the market because it's the most valuable stock on Wall Street. In energy trading, benchmark U.S. crude gained 32 cents to $87.61 a barrel in electronic trading on the New York Mercantile Exchange.

Persons: Australia's, Hang Seng, ” Anderson Alves, ActivTrades, Tesla, Apple, RTX, Smucker, Daniel Zhang Organizations: TOKYO, Big Tech, Nikkei, Federal, Fed, Federal Reserve, CME Group, Dow Jones Industrial, Nasdaq, Amazon, Communications, Walt Disney Co, ESPN, Disney, Apple, Qualcomm, . Aerospace, Pratt & Whitney, Hostess Brands, New York Mercantile Exchange, Brent, U.S Locations: Hong, Shanghai, U.S, Folgers, Smucker’s, United States

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

☆ European retailers risk dressing-down from investors as consumers flinch
▼ + stars: | 2023-09-11 | by ( Joice Alves | ) www.reuters.com time to read: +5 min

Reuters GraphicsThe broader STOXX 600 (.STOXX) is up by 7% this year, meaning retailers are outperforming by the most on record. The snag is that this stellar run has been partly built on investors unwinding bearish bets, or short positions, on retail stocks, after last year's pessimism proved overdone. This means retail stocks might not see as many willing buyers as earlier this year. Jones expects retail stocks to fall in the second half of the year. JPMorgan downgraded the grocery retail sector this month and flagged the prospect of price declines going into 2024.

Persons: Inditex, unwinding, Benjamin Jones, Jones, Florian Ielpo, Ielpo, WH Smith, Alexandre Bompard, LSEG, Joice Alves, Amanda Cooper, Tomasz Janowski Organizations: Reuters, Macro, Multi, Management, Carrefour, JPMorgan, Deutsche Bank, Thomson Locations: Zara, bullish, LSEG, Britain

☆ Football Leaks' Rui Pinto gets suspended sentence, to remain free
▼ + stars: | 2023-09-11 | by ( Sergio Goncalves | ) www.reuters.com time to read: +3 min

Rui Pinto, the Portuguese man believed to be the mastermind behind Football Leaks, waits before his trial at the court in Lisbon, Portugal September 4, 2020. REUTERS/Rafael Marchante Acquire Licensing RightsLISBON, Sept 11 (Reuters) - A Lisbon court on Monday handed a four-year suspended prison sentence to Rui Pinto, the Portuguese man behind the Football Leaks website, for attempted extortion, illegal access to data and breach of correspondence, Judge Margarida Alves said. "The court decided Rui Pinto will be handed a single four-year sentence... but there is no need to serve the sentence in prison," the judge said. Pinto's targets included the football club Sporting, the Portuguese Football Federation, investment fund Doyen Sports and law firm PLMJ. Football Leaks' data seen by Reuters showed how some of the richest and most prominent figures in soccer avoided tax by channelling earnings offshore.

Persons: Rui Pinto, Rafael Marchante, Judge Margarida Alves, Pinto, Judge Alves, Anibal Pinto, Pinto's, Francisco Teixeira da Mota, Sérgio Gonçalves, Andrei Khalip Organizations: REUTERS, Rights, Football, Lisbon Central Criminal Court, Sporting, Portuguese Football Federation, Sports, Reuters, English Premier League, Manchester City, European Champions League, Thomson Locations: Lisbon, Portugal, Rights LISBON, Portuguese, Hungary

☆ Escapee Had Been a Fugitive Before Pennsylvania Jailbreak
▼ + stars: | 2023-09-11 | by ( Ana Ionova | ) www.nytimes.com time to read: 1 min

It was just after midnight on a Saturday. A light rain was starting to fall in the mostly empty town square by the church. Evaldo Alves Feitosa was flipping his last burger of the night when he heard the gunshots outside his snack stand. “I thought it was a firecracker from a party at the club over there,” Mr. Feitosa said. When he looked out, he saw Danelo Cavalcante jumping into a silver car and speeding away.

Persons: Evaldo Alves Feitosa, ” Mr, Feitosa, Danelo, Valter Júnior Moreira dos Reis, Danilo, ”

☆ Dollar firmer on solid US data; China's yuan tumbles to 16-year low
▼ + stars: | 2023-09-07 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com time to read: +4 min

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. China's onshore yuan , on the other hand, slid to a 16-year low versus the greenback, under pressure from a property slump, weak consumer spending, and shrinking credit growth in the world's second-largest economy. Against a basket of currencies including the euro and sterling, the dollar rose 0.2% to 105.03, after earlier touching a fresh six-month peak. The index also climbed to a six-month high on Tuesday, as the U.S. services sector unexpectedly gained steam in August. ONSHORE YUAN HITS 2007 LEVELSThe onshore yuan sank to 7.3299 per dollar, its weakest since December 2007.

Persons: Florence Lo, Brad Bechtel, BoE, Andrew Bailey, Gertrude Chavez, Dreyfuss, Joice Alves, Rae Wee, Zhou, Sharon Singleton, Chizu Nomiyama, Nick Zieminski, Andrea Ricci Organizations: U.S, REUTERS, Federal Reserve, Jefferies, Reuters, New Zealand, European Central Bank, Bank of England, Thomson Locations: U.S, New York, China, Beijing, Japan, Bank, London

☆ Dollar rises on robust U.S. economy, yuan sinks to 16-year low
▼ + stars: | 2023-09-07 | by ( Joice Alves | ) www.reuters.com time to read: +4 min

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. China's onshore yuan slid to a 16-year low, under pressure from a property slump, weak consumer spending and shrinking credit growth in the world's second-largest economy. ONSHORE YUAN HIT 2007 LEVELSThe onshore yuan sank to 7.3296 per dollar, its weakest since December 2007. The Australian dollar was about flat at $0.6384, while the New Zealand dollar rose 0.3% at $0.5885, with both languishing near their recent 10-month lows. “We see yuan staying under pressure (against the dollar) in the near term," said Becky Liu, head of China macro strategy at Standard Chartered Bank.

Persons: Florence Lo, Kirstine Kundby, Joseph Capurso, Becky Liu, BoE, Andrew Bailey, Joice Alves, Rae Wee, Zhou, Sharon Singleton, Chizu Organizations: U.S, REUTERS, U.S ., Nielsen, Danske Bank, Federal Reserve, Commonwealth Bank of Australia, New Zealand, Standard Chartered Bank, People's Bank of China, European Central Bank, Bank of England, Thomson Locations: U.S, China, Beijing, China's, Japan, Asia, Bank

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 scaled a fresh top of 147.875 yen in early Asia trade, its highest since last November. "Stronger-than-expected ISM services reaffirmed the U.S. outperformance narrative, adding broad support to the U.S. dollar," said Kirstine Kundby-Nielsen, analyst at Danske Bank. The onshore yuan slid to a fresh 10-month low of 7.3270 per dollar, not far from hitting a 16-year low. The Australian dollar was about flat at $0.6386, while the New Zealand dollar was up 0.2% at $0.5881, with both languishing near their recent 10-month lows.

Persons: Florence Lo, Kirstine Kundby, Joseph Capurso, Matt Simpson, Sterling, BoE, Andrew Bailey, Joice Alves, Rae Wee, Sharon Singleton Organizations: U.S, REUTERS, U.S ., Nielsen, Danske Bank, Federal Reserve, Commonwealth Bank of Australia, New Zealand, Index, Bank of England, European Central Bank, Thomson Locations: SINGAPORE, U.S, Asia, China's, Beijing, China, Bank, Japan, London, Singapore

☆ Dollar eases as risk appetite improves on China's measures
▼ + stars: | 2023-09-04 | by ( Joice Alves | ) www.reuters.com time to read: +4 min

[1/2] U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. The China-sensitive euro was up 0.25% at $1.0799, just off a 10-week low touched last week against the dollar. The Australian dollar and the New Zealand dollar also got a lift from those measures. "The U.S. dollar is softening against most other G10 currencies today as risk appetite improves on the back of China support measures," said Jane Foley, head of FX strategy at Rabobank. The Canadian dollar slipped 0.07% to 1.359 per dollar ahead of the Bank of Canada's policy meeting this week, with the central bank expected to hold rates.

Persons: Dado Ruvic, Jane Foley, Christine Lagarde, Isabel Schnabel, Foley, Jeremy Hunt, Sterling, Joice Alves, Ankur Banerjee, Sharon Singleton, Christina Fincher Organizations: REUTERS, U.S, Australian, New Zealand, Rabobank, European Central Bank, ECB, FOCUS, Reserve Bank of Australia, Canadian, Bank of, Thomson Locations: China, Beijing, FOCUS British, U.S, London, Singapore

☆ Euro steadies as markets raise bets of ECB hike after inflation data
▼ + stars: | 2023-08-30 | by ( Joice Alves | ) www.reuters.com time to read: +4 min

[1/2] Euro and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. Money markets raised their bets on a September rate hike from the ECB, pricing in a 60% chance of a 25 basis-point move. "One key input to arrive at a final assessment is the inflation data this week," he added. The dollar index - which measures the currency against six major peers including the yen and euro - slipped 0.1% to 103.47. INTERVENTION TERRITORYThe dollar rose 0.35% to 146.38 yen .

Persons: Dado Ruvic, Benjamin Schroeder, pare, Charu, Jerome Powell, Naoki Tamura, bitcoin, cryptocurrency, Joice Alves, Kevin Buckland, Tom Westbrook, Miral Fahmy, Alex Richardson Organizations: U.S, REUTERS, European Central Bank, Federal, Reuters, Money, ECB, ING, Fed, Saxo . Money, Bank of Japan, Reserve Bank of Australia, People's Bank of, Thomson Locations: Germany, Spain, North Rhine, Westphalia, NRW, People's Bank of China, London, Tokyo

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLONDON/TOKYO, Aug 30 (Reuters) - The euro eased against the dollar on Wednesday as investors looked to more labour market data in the U.S. and inflation data in the euro zone to provide clues on the path for central banks policies. "One key input to arrive at a final assessment is the inflation data this week," he added. The euro eased 0.2% to $1.0856. The dollar index - which measures the currency against six major peers including the yen and euro - edged 0.1% higher at 103.67. INTERVENTION TERRITORYThe dollar rose 0.38% to 146.43 yen .

Persons: Dado Ruvic, Benjamin Schroeder, pare, Matt Simpson, Jerome Powell, Naoki Tamura, bitcoin, cryptocurrency, Joice Alves, Kevin Buckland, Tom Westbrook, Miral Organizations: REUTERS, Reuters, Money, ECB, ING, Index, Fed, Bank of Japan, Reserve Bank of Australia, People's Bank of, Thomson Locations: TOKYO, U.S, Spain, Germany, Westphalia, NRW, People's Bank of China, London, Tokyo

The greenback hit 146.75 Japanese yen, the highest since Nov. 9, and last traded at 146.51, up 0.05% on the day. Traders are watching out for any signs of intervention in the currency market from Japanese authorities as the yen weakens. The euro has weakened against the greenback for the past month due to the diverging economic outlooks for each region. China's yuan steadied against the dollar, buoyed by the Chinese central bank persistently setting stronger-than-expected daily-mid-points. The China-sensitive Australian dollar rose 0.32% to $0.6423, having taken a beating this month as worries over China's sputtering post-pandemic recovery weighed on sentiment.

Persons: Dado Ruvic, Kazuo Ueda, Jerome Powell, ”, Marc Chandler, Tommy Wu, Karen Brettell, Joice Alves, Kirsten Donovan, Diane Craft Organizations: REUTERS, Bank of America, Federal, Treasury, Bank of Japan, greenback, Bannockburn Global, European Central Bank, Thomson Locations: U.S, Japan, Europe, Bannockburn, New York, China, Commerzbank, London

The dollar index , which measures the U.S. currency against six peers, edged 0.08 lower to 104.08 after hitting its highest since early June on Friday. "It remains unlikely we get a hike from the Fed in September," Chris Weston, head of research at Pepperstone, said. With the Fed highlighting the importance of the upcoming U.S. economic data, investors' focus this week will be on reports on payrolls, core inflation and consumer spending. But the single currency traded near an almost 11-week low hit on Friday after European Central Bank President Christine Lagarde said policy needed to be restrictive. China's yuan steadied against the dollar, buoyed by the Chinese central bank repeatedly setting stronger-than-expected daily-mid-points.

Persons: Dado Ruvic, Jackson, Jerome Powell, Chris Weston, Weston, Rodrigo Catril, Christine Lagarde, Tommy Wu, Joice Alves, Ankur Banerjee, Mark Potter, Barbara Lewis Organizations: REUTERS, Fed, National Australia Bank, European Central Bank, Bank of Japan, Sterling, London, Thomson Locations: SINGAPORE, U.S, China, Japan, London, Singapore

The dollar index , which measures the U.S. currency against six peers, edged 0.06% lower at 104.11, after hitting its highest since early June on Friday. "But November is shaping up to be a 'live' event, where data points have the potential to throw interest rate expectations around." With the Fed highlighting the importance of the upcoming U.S. economic data, investors' focus this week will firmly be on reports on payrolls, core inflation and consumer spending. According to Refinitiv data, the market is now evenly split on whether there will be another rise in the 3.75% rate in September. China's yuan steadied against the dollar, buoyed by the Chinese central bank persistently setting stronger-than-expected daily-mid-points.

Persons: Dado Ruvic, Jerome Powell, Powell, Chris Weston, Weston, Rodrigo Catril, Christine Lagarde, Tommy Wu, Joice Alves, Ankur Banerjee, Mark Potter Organizations: REUTERS, Fed, National Australia Bank, European Central Bank, Bank of Japan, Thomson Locations: SINGAPORE, China, Beijing, U.S, Japan, London, Singapore

☆ Dollar rises ahead of Jackson Hole gathering
▼ + stars: | 2023-08-24 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

"But the reaction to them was pretty muted overall, suggesting the Jackson Hole symposium is the main thing on the markets' mind," he said. Elsewhere, the Turkish lira rallied to a 2-month high against the dollar, up about 6% to 25.55 against the dollar after the Turkish central bank hiked the 1-week repo from 17.5% to a much-higher-than expected 25%. According to the median estimate in a Reuters poll, economists were expecting the policy rate to increase to 20%. Turkey's central bank embarked on a tightening cycle in June after President Tayyip Erdogan appointed former Wall Street banker Hafize Gaye Erkan as governor. The dollar was 0.7% higher against the yen , not far from the 9-month high 146.565 touched last week.

Persons: Dado Ruvic, Jerome Powell's, Jackson, Stuart Cole, Powell, Cole, Patrick Harker, Susan Collins, Tayyip Erdogan, Hafize Gaye Erkan, Piotr Matys, Saqib Iqbal Ahmed, Joice Alves, Tom Westbrook, Ankur Banerjee, Angus MacSwan, Andrea Ricci, Nick Zieminski Organizations: REUTERS, Jackson, Equiti, Federal Reserve, Philadelphia Fed, Boston Fed, U.S, Turkish, Wall Street, Touch Capital, Bank of England, Thomson Locations: London, Europe, Turkish, British

☆ Dollar rises ahead of Jackson Hole, Turkish lira rallies
▼ + stars: | 2023-08-24 | by ( Joice Alves | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/file photo Acquire Licensing RightsLONDON, Aug 24 (Reuters) - The dollar rose on Thursday as investors awaited for U.S. job data ahead of the Federal Reserve's Jackson Hole symposium, while the Turkish lira rallied after a larger-than-expected central bank rate hike. Investors were cautious after softer-than expected data in Europe and the U.S. muddied the economic outlook sending the safe-haven dollar higher. "As the Jackson Hole symposium gets under way, market participants are looking for direction," said Isabel Albarran, Investment Officer at Close Brothers Asset Management. MORE COULD COMEElsewhere, the Turkish lira rallied, up 3% to 26.4040 against the dollar after the Turkish Central Bank hiked the 1-week repo from 17.5% to a much-larger-than expected 25%. Turkey's central bank embarked on a tightening cycle in June after President Tayyip Erdogan appointed former Wall Street banker Hafize Gaye Erkan as governor.

Persons: Dado Ruvic, Jackson, Jerome Powell, Isabel Albarran, Tayyip Erdogan, Hafize Gaye Erkan, Piotr Matys, Moh Siong Sim, China's, Joice Alves, Tom Westbrook, Ankur Banerjee, Angus MacSwan Organizations: REUTERS, Federal, Turkish, U.S, Investors, Investment, Asset Management, Turkish Central Bank, Wall Street, Touch Capital, British, Bank of England, PMI, Singapore, Thomson Locations: Europe, London

U.S. Dollar and Chinese Yuan banknotes are seen in this illustration picture taken June 14, 2022. The People's Bank of China (PBOC) set a much stronger-than-expected daily fixing, lifting the yuan from a 9-month low hit on Thursday. The yuan weakened against the dollar to 7.3060 in offshore trading after the PBOC set the official mid-point at 7.2006, more than 1,000 pips stronger than Reuters' estimate. China's economic troubles have deepened, with property developer China Evergrande (3333.HK) seeking Chapter 15 protection in a U.S. bankruptcy court. The Japanese yen strengthened 0.38% versus the greenback at 145.29 per dollar after reaching a nine-month low of 146.56 on Thursday.

Persons: Florence Lo, Joe Manimbo, it's, we've, Joseph Trevisani, that's, Hannah Lang, Joice Alves, Kevin Buckland, Sharon Singleton Organizations: REUTERS, Rights, People's Bank of China, Reuters, China, HK, U.S, Federal, Thomson Locations: U.S, Convera, China, Washington, London, Tokyo

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