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☆ Dollar climbs as central banks see inflation risks unwind
▼ + stars: | 2023-02-03 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

Elsewhere, the greenback broadly advanced on the back of its Atlantic counterparts' decline, reversing its losses earlier in the week. On Thursday, the ECB and BoE each raised interest rates by 50 basis points as expected, with the latter signalling the tide was turning in its battle against high inflation. The comments from policymakers following a slew of central bank meetings this week have markets seizing on signs that interest rates could be close to peaking in most major economies. "We're starting to see central banks converging to a pattern now ... the major central banks are definitely approaching the end of their tightening cycles," said CBA's Kong. An imminent peak in U.S. rates has provided some relief for the Japanese yen , which last year crumbled under pressure from rising interest rate differentials against Japan's low interest rate environment.

☆ Dollar gains as inflation pressures persist; eyes on c.bank meetings
▼ + stars: | 2022-12-12 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

Against a basket of currencies, the U.S. dollar index eked out a 0.12% gain at 105.18. Traders were also kept on edge in the run up to key risk events this week, including U.S. inflation data and a slew of major central bank meetings. The Bank of England and the European Central Bank (ECB) will also meet this week, and each is likewise expected to deliver a 50 bp rate hike. Ahead of the FOMC meeting, November's U.S. inflation figures are due on Tuesday, with economists expecting core annual inflation of 6.1%. "The market reaction to U.S. inflation surprises has been asymmetric so far in 2022, with downside surprises having a larger effect than upside ones," said analysts at Barclays.

☆ Dollar rises as inflation pressures persist; FOMC meeting in focus
▼ + stars: | 2022-12-12 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

Traders were also kept on edge in the run up to key risk events this week, including a slew of major central bank meetings. The Bank of England and the European Central Bank (ECB) also meet this week, and are likewise expected to each deliver a 50 bp rate hike. Elsewhere, the dollar rose 0.12% against the Japanese yen to 136.73, and against a basket of currencies, the U.S. dollar index eked out a 0.04% gain at 105.09. Ahead of the FOMC meeting, November's U.S. inflation figures are due on Tuesday, with economists expecting core inflation to rise 6.1% year-on-year. "The market reaction to U.S. inflation surprises has been asymmetric so far in 2022, with downside surprises having a larger effect than upside ones," said analysts at Barclays.

☆ Dollar near one-week high as traders prepare for Powell, payrolls tests
▼ + stars: | 2022-11-30 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

China's offshore yuan traded near a one-week high as traders returned to wagering on a reopening from strangling COVID-19 curbs. The dollar slipped 0.07% to 138.60 yen , as the pair continued to consolidate following a bounce from a three-month low of 137.50 on Monday. The euro ticked up 0.15% to $1.03435, lifting from a one-week low reached earlier on Wednesday at $1.0319. The Aussie rose 0.11% to $0.66945, consolidating in the middle of its range of the past couple of weeks. Optimism about a China reopening was balanced against an easing in Australian inflation, reducing the pressure for Reserve Bank rate hikes, and weak Chinese purchasing manager surveys.

☆ Dollar near one-week high as traders prepare for Powell speech, payrolls tests
▼ + stars: | 2022-11-30 | by ( ) www.cnbc.com time to read: +3 min

China's offshore yuan traded near a one-week high as traders returned to wagering on a reopening from strangling Covid-19 curbs. The dollar slipped 0.07% to 138.60 yen , as the pair continued to consolidate following a bounce from a three-month low of 137.50 on Monday. The euro ticked up 0.15% to $1.03435, lifting from a one-week low reached earlier on Wednesday at $1.0319. The Aussie rose 0.11% to $0.66945, consolidating in the middle of its range of the past couple of weeks. Optimism about a China reopening was balanced against an easing in Australian inflation, reducing the pressure for Reserve Bank rate hikes, and weak Chinese purchasing manager surveys.

☆ Australia court dismisses customer fees lawsuit against CBA
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +2 min

Nov 29 (Reuters) - The Australian Federal Court has dismissed proceedings initiated by the country's securities regulator against top lender Commonwealth Bank of Australia (CBA.AX) over alleged incorrect charging of monthly fees to customers, the regulator said on Tuesday. The court, however, found that the bank had not breached its general obligation to ensure that financial services were provided efficiently. CBA in a statement acknowledged the court order as well as "errors" in charging monthly account fees to some customers. "We confirm that CBA has completed the customer remediation program in relation to the issues in the proceedings," the bank said. In September, another ASIC proceeding against CBA over allegations of improperly collecting commissions was dismissed by the federal court, dealing a blow to consumer advocates seeking tougher regulations.

The eagerly awaited readout of the Nov. 1-2 Fed meeting showed officials were largely satisfied they could now move in smaller steps. The dollar index , which measures the greenback against six major peers, was down 0.14% at 105.75, after sliding 1% overnight. The minutes also showed an emerging debate within the Fed over the risks that rapid policy tightening could pose to economic growth and financial stability. Rising coronavirus cases have led Chinese cities to impose more curbs, increasing investor worries about the economy and putting a lid on risk appetite. The Australian dollar rose 0.25% to $0.675, while the kiwi was 0.17% higher at $0.6255.

The eagerly awaited readout of the Nov. 1-2 Fed meeting showed officials were largely satisfied they could now move in smaller steps. The dollar index , which measures the greenback against six major peers, was down 0.066% at 105.830, after sliding 1% overnight. The minutes also showed an emerging debate within the Fed over the risks that rapid policy tightening could pose to economic growth and financial stability. The Australian dollar rose 0.25% versus the greenback at $0.675, while the kiwi was 0.26% higher at $0.625. The Japanese yen strengthened 0.54% versus the greenback to 138.84 per dollar.

☆ Dollar rises as China defends stringent COVID policy, dampening risk sentiment
▼ + stars: | 2022-11-07 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

The two currencies were huge beneficiaries of a broad rally on Friday - rising nearly 3% - as speculation that China could soon end its COVID restrictions gathered pace and buoyed risk appetite. But hints of some easing of market conditions, with the unemployment rate rising to 3.7%, fuelled hopes that the much sought after Fed pivot could be on the horizon, capping the dollar's gains. Against a basket of currencies, the U.S. dollar index last stood at 111.02. "Judging by market reaction, investors really focused on the lift in unemployment rate, and that might have led to market participants scaling back their expectations on the Fed funds rate." Four Federal Reserve policymakers on Friday also indicated they would still consider a smaller interest rate hike at their next policy meeting.

☆ Dollar steadies as Fed looms; yen fragile
▼ + stars: | 2022-10-31 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

The greenback moved broadly higher in Asia trade, particularly against the Japanese yen , rising more than 0.5% and pushing above the 148 yen level. Data on Friday showed that U.S. consumer spending rose more than expected in September, while underlying inflation pressures continued to bubble. The Fed is expected to deliver another 75 basis point (bp) rate hike after the conclusion of the FOMC meeting on Wednesday. Ahead of another central bank decision this week, the Australian dollar rose 0.1% to $0.6418. The offshore yuan was last down 0.4% at 7.2990 per dollar.

☆ Dollar up as data suggests Fed hawks will stay in control; yen fragile
▼ + stars: | 2022-10-31 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

The greenback moved broadly higher in Asia trade, particularly against the Japanese yen , rising more than 0.5% and pushing above the 148 yen level. Data on Friday showed that U.S. consumer spending rose more than expected in September, while underlying inflation pressures continued to bubble. The Fed is expected to deliver another 75 basis point (bp) rate hike after the conclusion of this week's policy-setting meeting on Wednesday. Ahead of another central bank decision this week, the Australian dollar rose 0.09% to $0.6417. Along with a further 75 bp of rate hikes in the first half of 2023, we now have the RBA cash rate peaking at 3.85%."

☆ Dollar strengthens as Fed expected to stay hawkish; yen fragile
▼ + stars: | 2022-10-31 | by ( ) www.cnbc.com time to read: +3 min

Against the Japanese yen , the greenback was 0.44% higher at 148.08, particularly helped by the Bank of Japan's (BOJ) decision to keep ultra-low interest rates on Friday, and BOJ Governor Haruhiko Kuroda's still-dovish comments in the face of rising interest rates elsewhere. The dollar moved broadly higher in early Asia trade, and was up more than 0.2% against the New Zealand dollar and the pound. It recouped some of last week's losses, after having slid on hopes of a potential Fed change of tack. Data on Friday showed that U.S. consumer spending rose more than expected in September, while underlying inflation pressures continued to bubble. The Fed is expected to deliver another 75 basis point (bp) rate hike after this week's FOMC meeting, when policymakers announce their decision on Wednesday.

☆ Euro slips below parity, yen steady ahead of Bank of Japan
▼ + stars: | 2022-10-28 | by ( ) www.cnbc.com time to read: +3 min

The euro held below parity on Friday as investors eyed a potential slowdown in future rate hikes by the European Central Bank, while the yen was on track for its best week in over two months ahead of a key central bank policy decision. "The ECB policy decisions were less hawkish than most had expected. The yen last bought 146.41 per dollar, and was on track for a nearly 1% weekly gain, its largest since August. The fragile currency has received support from suspected intervention by Japanese authorities to prop up the yen last Friday and on Monday. "At the moment, I don't really see any case for a shift in the Bank of Japan's monetary policy," said CBA's Kong.

☆ Euro slips below parity, yen steady ahead of BOJ
▼ + stars: | 2022-10-28 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

[1/2] U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. "The ECB policy decisions were less hawkish than most had expected. The yen last bought 146.41 per dollar, and was on track for a nearly 1% weekly gain, its largest since August. The fragile currency has received support from suspected intervention by Japanese authorities to prop up the yen last Friday and on Monday. "At the moment, I don't really see any case for a shift in the Bank of Japan's monetary policy," said CBA's Kong.

☆ Sterling dips after Truss resigns, fragile yen weakens past 150 level
▼ + stars: | 2022-10-21 | by ( ) www.cnbc.com time to read: +4 min

Japanese yen and U.S. dollar banknotes are arranged for a photograph in Tokyo, Japan. The U.S. dollar pushed to a fresh two-decade high versus major peers on Thursday, propelled by the Federal Reserve's hawkish outlook for interest rates. The euro fell 0.15% to $0.97725, after tracking the move in sterling to an overnight high of $0.98455. Meanwhile, the yen last bought 150.20 per dollar, after hitting a fresh 32-year low of 150.29 overnight. U.S. Treasury yields extended their climb overnight, with the two-year Treasury yield hitting a 15-year high of 4.623%, while the benchmark 10-year Treasury yield peaked at 4.243%, its highest level since June 2008.

☆ Dollar rides Treasury yields higher, yen closes in on key 150 level
▼ + stars: | 2022-10-20 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

SINGAPORE, Oct 20 (Reuters) - The dollar loomed over major peers on Thursday as Treasury yields peaked at multi-year highs, while the yen slid to a fresh 32-year low and kept markets on high alert for any signs of an intervention. The fragile yen hit a fresh trough of 149.98 per dollar, its lowest since August 1990, and last bought 149.975. "Given that Treasury yields have moved decisively above 4%, were it not for the threat of intervention then I think dollar/yen would already be trading north of 150." The benchmark U.S. 10-year Treasury yield rose to 4.154% on Thursday, its highest level since mid-2008, while the two-year Treasury yields touched a 15-year high of 4.582%. "Because central banks misjudged how high inflation would go, they're really still catching up by increasing interest rates significantly, and that's going to cause big problems for the world economy, particularly next year," said CBA's Capurso.

☆ Sterling rebounds on UK fiscal policy U-turn; yen struggles
▼ + stars: | 2022-10-17 | by ( ) www.cnbc.com time to read: +3 min

In this photo illustration, British GDP £1 coins and bank notes are pictured in Bath, England. The news came hours after she sacked former finance minister Kwasi Kwarteng, with Jeremy Hunt replacing him. All eyes are now on how the UK government bond market will trade, after the Bank of England on Friday concluded its emergency gilt market support. The U.S. dollar index , which measures the greenback against a basket of currencies including the yen, firmed at 113.02. Elsewhere, the euro gained 0.26% to $0.9748, while the Australian and New Zealand dollars bounced mildly from recent losses.

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