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☆ Dollar steady as investors ponder over global rates, economic outlook
▼ + stars: | 2023-06-26 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

Investors were also on guard after dramatic weekend events in Russia, though reaction in the currency market was subdued as they assessed the implications of the aborted mutiny. The euro was nursing its losses from last week and was last up 0.07% at $1.0902 in Asia trade. Flash Purchasing Managers' Index (PMI) data on Friday showed Britain's economy displayed signs of a slowdown this month but inflation pressures stayed high. Elsewhere, the Japanese yen rose 0.3% to 143.27 per dollar, though was not far from an over seven-month low of 143.87 hit on Friday. The offshore yuan languished near a seven-month low at 7.2162 per dollar.

Persons: Sterling, Bank of England stoked, Carol Kong, Masato Kanda, Vladimir Putin's, CBA's, Rae Wee, Gerry Doyle Organizations: Bank of England, Commonwealth Bank of Australia, PMI, U.S, U.S ., Bank of Japan's, Thomson Locations: SINGAPORE, Russia, Asia, Europe, U.S, Russian, Rostov, Moscow, CBA's Kong, China, Beijing

☆ Dollar rises as hawkish central banks dent risk sentiment, sterling slips
▼ + stars: | 2023-06-23 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

While higher rates are typically supportive of currencies, the risk that they will trigger an economic downturn has pushed some investors to seek safe-haven assets like the U.S. dollar. The Turkish lira slid to a record low of 25.589 against the U.S. dollar, after the Turkey's central bank 650 basis points hike to 15% on Thursday missed expectations. In other currencies, the dollar rose broadly and stood near an over seven-month high against the yen at 142.90. The euro slipped 0.04% to $1.0950, while the U.S. dollar rose 0.05% against a basket of six major peers to 102.44. "Most of the Western central banks are now more hawkish than previously projected," said Tina Teng, market analyst at CMC Markets.

Persons: stoked, Sterling, BoE, Nick Bennenbroek, Jerome Powell, Tina Teng, Rae Wee, Sam Holmes Organizations: Federal Reserve, Bank of England, U.S ., Bank of Japan, U.S, Federal, Fed, Swiss National Bank, CMC Markets, New Zealand, Thomson Locations: SINGAPORE, Wells Fargo

☆ Take Five: The only way is up
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +6 min

June 23 (Reuters) - It's been a turbulent week or two for markets, with one central bank after another making it very clear the only way for rates right now is up as inflation tightens its grip on the global economy. Bad news could be taken as a positive, if traders see it as a way of pushing authorities to offer more support to the economy - as long as it eventually arrives. Make your way to the foothills of Portugal's Sintra mountains from Monday through Wednesday. The agenda is, of course, inflation, inflation, inflation. Many expect initial attempts to talk the currency higher - "jawboning", in central bank jargon - before considering whether direct intervention is needed.

Persons: It's, Yoruk, Lewis Krauskopf, Naomi Rovnick, Amanda Cooper, it's, Big Tech's, CHRISTINE, Christine Lagarde, Yannis Stournaras, Jan Harvey Organizations: Investors, Federal, Credit Suisse, Big Tech, Federal Reserve, European Central Bank, Traders, ECB, Reuters Graphics Reuters, Analysts, Thomson Locations: Portugal, Rae Wee, Singapore, Amsterdam, New York, London, U.S, Beijing, China, Portugal's Sintra, SWEDEN, Swedish

☆ Yuan slides after China cuts lending benchmarks; Aussie down
▼ + stars: | 2023-06-20 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

"Markets were expecting bigger support and were hoping for a larger LPR cut," said currency strategist Christopher Wong at OCBC. It's probably going to be more targeted," said currency strategist Moh Siong Sim at Bank of Singapore. "The minutes were interpreted by market participants as dovish," said currency strategist Carol Kong at Commonwealth Bank of Australia. The yen has come under renewed pressure amid rising interest rate differentials between Japan and other developed markets. Sterling edged 0.06% higher to $1.2798, ahead of British inflation data and the Bank of England's (BoE) interest rate decision later in the week.

Persons: Christopher Wong, Moh Siong Sim, Carol Kong, Min Joo Kang, BoE, Rodrigo Catril, Rae Wee, Christopher Cushing Organizations: Bank of Singapore, Reserve Bank of Australia's, Commonwealth Bank of Australia, New Zealand, Bank of Japan's, ING, South, Central Bank, Sterling, Bank of England's, National Australia Bank, Bank of England, U.S ., Thomson Locations: SINGAPORE, China, OCBC, Japan, South Korea

As widely expected, the BOJ maintained its -0.1% short-term interest rate target and a 0% cap on the 10-year bond yield set under its yield curve control (YCC) policy. The yen fell broadly following the decision and hit a fresh 15-year low of 154.70 per euro and was set for the biggest weekly decline against the single currency in three years. Reuters GraphicsFED FACES GRIM DATAThe ECB's monetary policy decision came a day after the U.S. Federal Reserve left interest rates unchanged, snapping a string of 10 consecutive rate hikes. Production at U.S. factories almost stalled in May as manufacturing struggled under the weight of higher interest rates, while U.S. import prices similarly fell last month. Against a basket of currencies , the dollar index edged up 0.03% to 102.17, after slipping to a one-month low on Thursday.

Persons: we're, Kazuo Ueda, Hirofumi Suzuki, Goldman Sachs, Christine Lagarde, Shaun Osborne, Joice Alves, Rae Wee, Philippa Fletcher, Sohini Organizations: LONDON, Bank of Japan, European, Bank's, U.S, ECB, Sterling, Bank of England, Reuters Graphics, U.S . Federal Reserve, Fed, Labor Department, Scotiabank, Thomson Locations: SINGAPORE, United States, Europe, Toronto, London, Singapore

☆ Yen falls after BOJ stands pat; hawkish ECB and soft US data dent dollar
▼ + stars: | 2023-06-16 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

The decision by the BOJ to keep its short-term interest rate target at -0.1% and its 10-year bond yield around 0% was widely expected. Even so, it was enough to pressure the yen further with the Japanese currency falling about 0.3% against the dollar to 140.72 . That and a run of soft U.S. economic data saw the dollar fall broadly as traders scaled back their bets on how high U.S. interest rates would need to rise. The euro stood near a one-month high at $1.0937, having surged over 1% on Thursday following the rate hike and hawkish forward guidance from the ECB. Production at U.S. factories almost stalled in May as manufacturing struggled under the weight of higher interest rates, while U.S. import prices similarly fell last month.

Persons: Christine Lagarde, Sterling, Rae Wee, Edwina Gibbs Organizations: Bank of Japan, European Central Bank, ECB, Deutsche Bank, Bank of England, U.S . Federal Reserve, Fed, Labor Department, Thomson Locations: SINGAPORE, Asia, United States

☆ BlackRock files for bitcoin ETF in push into crypto
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +2 min

BlackRock's iShares Bitcoin Trust will use Coinbase Custody as its custodian, according to a filing with the U.S. Securities and Exchange Commission (SEC). Last year, BlackRock launched a spot bitcoin private trust for institutional clients in the United States. A spot bitcoin ETF would track bitcoin's underlying market price. The SEC rejected Grayscale Investment LLC’s application last year to convert its flagship spot Grayscale Bitcoin Trust (GBTC.PK) into an ETF. The SEC has also rejected proposals for spot bitcoin ETFs from firms including Fidelity, Cboe Global Markets and NYDIG.

Persons: Brendan McDermid, Joshua Chu, CoinDesk, Manya Saini, Niket, Ankur Banerjee, Rae Wee, Devika Syamnath, Pooja Desai Organizations: BlackRock, New York Stock Exchange, REUTERS, U.S . Securities, Exchange Commission, SEC, Fidelity, Cboe, Thomson Locations: New York City, U.S, BlackRock, United States, Bengaluru, Singapore

☆ Yen slips after BOJ stands pat, soft data dents dollar
▼ + stars: | 2023-06-16 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

As widely expected, the BOJ maintained its -0.1% short-term interest rate target and a 0% cap on the 10-year bond yield set under its yield curve control (YCC) policy. The U.S. dollar was last roughly 0.1% higher at 140.42 yen . That and a run of soft U.S. economic data saw the dollar fall broadly as traders scaled back their bets on how high U.S. interest rates would need to rise. FED HAWKISHNESS CHALLENGEDThe ECB's monetary policy decision came a day after the U.S. Federal Reserve left interest rates unchanged, snapping a string of 10 consecutive rate hikes. Production at U.S. factories almost stalled in May as manufacturing struggled under the weight of higher interest rates, while U.S. import prices similarly fell last month.

Persons: Kazuo Ueda's, Hirofumi Suzuki, Christine Lagarde, Sterling, Rae Wee, Edwina Gibbs, Kim Coghill Organizations: Bank of Japan, U.S, European Central Bank, ECB, Deutsche Bank, Bank of England, U.S . Federal Reserve, Fed, Labor Department, Thomson Locations: SINGAPORE, Asia, United States

LONDON/SINGAPORE (Reuters) - The dollar fell slightly on Tuesday as investors awaited U.S. inflation data, while China’s yuan slipped to a six-month low after the central bank lowered a short-term lending rate to boost the economy. That helped push the dollar index, which measures the currency against six peers, down 0.26% to 103.32. The onshore yuan bottomed at 7.168 per dollar, its lowest since last November, and last traded at 7.152. Its offshore counterpart weakened to a new six-month low of 7.178, before paring its losses slightly. The Aussie dollar rose more than 0.4% to its highest since May 11 at $0.679, and was last at $0.678.

Persons: Dado Ruvic, Jane Foley, “ What’s, ” Foley, Julian Evans, Pritchard, ” Sterling Organizations: LONDON, REUTERS, Federal Reserve, Rabobank, Fed, Capital Economics, of England, Bank of Japan Locations: SINGAPORE, Asia, China

☆ Dollar dips ahead of US inflation data, central bank meetings
▼ + stars: | 2023-06-13 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

Those expectations kept risk sentiment buoyant, pinning the U.S. dollar near multi-week lows against the risk-sensitive Australia and New Zealand dollars. The euro gained 0.04% to $1.0760, with traders also focused on Thursday's interest rate decision from the European Central Bank, following its policy meeting. The U.S. dollar index edged marginally higher to 103.59, after falling to 103.24 on Monday, its lowest since May 23. "The central bank will likely continue to send a dovish message or one of no intention of policy change until it changes direction." In Asia, China's central bank cut its seven-day reverse repo rate by 10 basis points to 1.90% from 2.00% on Tuesday, sending the yuan falling in the offshore market .

Persons: Joseph Capurso, Jane Foley, Chong, Rae Wee, Edmund Klamann Organizations: Federal Reserve, U.S, Labor Department's CPI, Commonwealth Bank of Australia, Bank of England, European Central Bank, ECB, Rabobank, Bank of Japan, Standard Chartered Bank Korea, Thomson Locations: SINGAPORE, Australia, New Zealand, Korea, Japan, Asia

Monetary policy meetings of the Fed, the European Central Bank (ECB) and the Bank of Japan (BOJ) will set the tone for the week as markets seek clues from policymakers on the future path of interest rates. U.S. May inflation data is also out on Tuesday as the Fed kicks off its two-day meeting. "We are pretty much with consensus, expecting the Fed to stay put this week and a 25 basis point hike from the ECB," Nordea's Christensen said. The U.S. dollar index clocked a loss of nearly 0.5% last week, its worst weekly drop since mid-April, and was last down 0.1% at 103.43. The euro rose 0.2% to $1.0768, having risen 0.4% last week, its first weekly gain in roughly a month.

Persons: Niels Christensen, Nordea's Christensen, " Christensen, Goldman Sachs, Samuel Indyk, Rae Wee, Simon Cameron, Moore, Angus MacSwan Organizations: Federal Reserve, European Central Bank, Bank of Japan, Fed, ECB, Reuters, U.S, Reserve Bank of New, People's Bank of, Thomson Locations: Reserve Bank of New Zealand, Australia, People's Bank of China

☆ Dollar steady, with Fed pause eyed in busy c.bank week
▼ + stars: | 2023-06-12 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

Policy meetings of the Fed, the European Central Bank (ECB) and the Bank of Japan (BOJ) will set the tone for the week, as markets seek clues from policymakers on the future path of interest rates. The U.S. dollar index clocked a loss of nearly 0.5% last week, its worst weekly drop since mid-April, and was last marginally higher at 103.58. The euro slipped 0.02% to $1.0744 in early Asia trade, after having risen 0.4% last week, its first weekly gain in roughly a month. "Central banks have raised rates aggressively over the past 12-15 months and given the lagged effects with which monetary policy affects demand, are central banks teeing up for a pause, following the RBNZ's example?" "We change our BOJ call to no YCC revision at this week's meeting," said Societe Generale's Jin Kenzaki, referring to the central bank's controversial yield curve control policy.

Persons: Alvin Tan, Jin Kenzaki, Rae Wee, Muralikumar Organizations: European Central Bank, Bank of Japan, Asia FX, RBC Capital Markets, Money, U.S, Reuters, ECB, ANZ, Reserve Bank of New, Thomson Locations: SINGAPORE, Asia, Australia, Reserve Bank of New Zealand

☆ Dollar retreats on jump in US jobless claims; eyes on Fed
▼ + stars: | 2023-06-09 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

The two-year yield , which typically moves in step with interest rate expectations, steadied at 4.5210%. So that'll show up in payrolls numbers and jobless claims and these sorts of numbers," said Jarrod Kerr, chief economist at Kiwibank. The Fed takes centre stage, with money markets leaning toward a pause, though have priced in a 25% chance that the U.S. central bank delivers a 25bp rate hike. "A slowing U.S. economy gives the Fed room to pause after 500bp of consecutive interest rate rises," said Guillermo Felices, global investment strategist at PGIM Fixed Income. The Canadian dollar last bought C$1.3365, not far from its one-month high of C$1.3321 hit on Wednesday, while the Aussie similarly stood near a roughly one-month peak at $0.6711.

Persons: Jarrod Kerr, Guillermo Felices, Thursday's, Rae Wee, Sam Holmes Organizations: U.S, Treasury, Federal Reserve, European Central Bank, Bank of Japan, Fed, Reuters, ECB, Canadian, Thomson Locations: SINGAPORE, Asia, U.S, Kiwibank

☆ Take Five: Skip, stop or go?
▼ + stars: | 2023-06-09 | by ( ) www.reuters.com time to read: +5 min

REUTERS/Leah Millis/File PhotoJune 9 (Reuters) - It's a week of the central bank heavies with the U.S. Federal Reserve, European Central Bank and Bank of Japan meeting. The Fed is tipped to stop with rate hikes (for now), the ECB, to keeping going (for now), while the BOJ remains in stop mode (for now). U.S. inflation numbers, Chinese data and a crunch moment for UBS and Credit Suisse means there's plenty happening. 1/ A LOT GOING ONMarkets get not one but two headline events with U.S. May inflation data out on Tuesday as the Fed kicks off its two-day meeting. For now, markets price in just one more increase this year, an outlook investors seem comfortable with, judging by the recent strong performance of U.S. stocks.

Persons: Leah Millis, Li Gu, Kevin Buckland, Ira Iosebashvili, Yoruk, Noele, Kazuo Ueda, Ueda, culls, Dhara Ranasinghe, Rae Wee, John O'Donnell, John Stonestreet Organizations: Federal Reserve, REUTERS, U.S . Federal Reserve, European Central Bank and Bank of Japan, ECB, UBS, Credit Suisse, U.S, Reuters, Reuters Graphics Reuters, Thomson Locations: Washington , U.S, Li, Shanghai, Tokyo, New York, Amsterdam, Zurich, China, China's, Swiss, Singapore, Frankfurt

☆ Dollar eases as chances for a U.S. rate rise ebb
▼ + stars: | 2023-06-07 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

LONDON, June 7 (Reuters) - The dollar dipped on Wednesday as chances faded for a rate hike next week by the Federal Reserve, while the Canadian dollar touched one-month highs as traders amped up bets for the country to raise rates and the Turkish lira hit record lows. "Over the last month or so, we've seen the market slowly pricing out the risks of a 2023 interest rate cut. Nonetheless, traders were attaching a higher chance that the BoC would raise Canadian interest rates again later on Wednesday. Against the dollar, sterling rose 0.3% to $1.2456, while the Japanese yen rose 0.2% to 139.40 and the euro rose 0.2% to $1.0718. Elsewhere, the Turkish lira slid as much as 7.6% to a record low of 23.16 per U.S. dollar.

Persons: Philip Lowe, Jane Foley, we've, Foley, Siong Sim, bitcoin, Coinbase, Binance, Zhao, Binance's, Rae Wee, Clarence Fernandez, William Maclean Organizations: Federal Reserve, Australian, Reserve Bank, U.S ., Rabobank, BoC, U.S, Canadian, Fed, Bank of Singapore, U.S . Securities, Exchange Commission, SEC, Thomson Locations: U.S, CHINA, China, Turkish, Singapore

☆ Dollar adrift as traders assess Fed options; Aussie buoyant
▼ + stars: | 2023-06-07 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

In the broader currency market, the U.S. dollar dipped in early Asia trade, as traders pared back their expectations of a rate hike at next week's FOMC meeting. Against the greenback, sterling rose 0.08% to $1.2432, while the kiwi gained 0.08% to $0.6084. "We don't think the FOMC will hike next week ... but risks again are skewed to the upside," said Kong. The U.S. dollar index slipped 0.03% to 104.05, while the euro rose 0.07% to $1.0698. CRYPTO SHAKEOUTIn the cryptoverse, bitcoin , the world's biggest cryptocurrency, was last marginally higher at $27,273, after jumping nearly 6% on Tuesday.

Persons: Philip Lowe, Carol Kong, Lowe, CRYPTO, Coinbase, Binance, Changpeng Zhao, Tony Sycamore, Rae Wee, Shri Navaratnam Organizations: Federal Reserve, Australian, Reserve Bank of Australia's, Commonwealth Bank of Australia, U.S, Fed, The U.S, European Central Bank, U.S . Securities, Exchange Commission, SEC, IG Markets, Thomson Locations: SINGAPORE, Asia, U.S, The, Turkish

June 6 (Reuters) - Investors have pulled around $1.43 billion from the crypto exchange Binance and its U.S. affiliate as of 11 a.m. ET (1500 GMT) on Tuesday, data firm Nansen said, a day after a top U.S. regulator sued both exchanges. Binance saw net outflows of $1.34 billion of crypto tokens on the ethereum blockchain, with its U.S. affiliate, Binance.US, registering net outflows of $70.8 million, Nansen tweeted. The U.S. Securities and Exchange Commission on Monday sued Binance, its CEO Changpeng Zhao and the operator of Binance.US over what it called a "web of deception" to evade U.S. laws. The SEC complaint is the latest in a series of legal headaches for Binance.

Persons: Nansen, Binance, Changpeng Zhao, Tony Sycamore, Binance's BNB cryptocurrency, Zhao, Tom Wilson, Rae Wee, Ankur Banerjee, Kevin Buckland, Hannah Lang, Sonali Paul, Tom Hogue, Nick Zieminski, Louise Heavens Organizations: U.S, Binance.US, U.S . Securities, Exchange Commission, Monday, SEC, Reuters, IG Markets, U.S . Commodity Futures Trading Commission, Thomson Locations: U.S, London, Singapore, Tokyo, Washington

☆ Bitcoin steadies above $25,000 as Binance SEC lawsuit rattles investors
▼ + stars: | 2023-06-06 | by ( Rae Wee | ) www.reuters.com time to read: +2 min

SINGAPORE, June 6 (Reuters) - Bitcoin stabilised above $25,000 on Tuesday after a steep dive overnight, as investors grappled with news that the U.S. securities regulator sued crypto exchange Binance, dealing a severe blow to the industry. Bitcoin , the world's largest cryptocurrency, was last at $25,797, up 0.2% in Asian trade on Tuesday, pinned near a more than two-month low. The U.S. Securities and Exchange Commission on Monday sued Binance, the world's largest cryptocurrency exchange, and its CEO Changpeng Zhao for secretly controlling Binance.US as part of a "web of deception" to evade U.S. laws, among other charges. "It's another blow to the crypto industry and the crypto exchanges of the world," said Tony Sycamore, market analyst at IG Markets. Reporting by Rae Wee in Singapore and Kevin Buckland in Tokyo; Editing by Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Binance, Changpeng Zhao, Tony Sycamore, cyptocurrency, Wayne Huang, Rae Wee, Kevin Buckland, Sonali Paul Organizations: U.S . Securities, Exchange Commission, Monday, IG Markets, SEC, Reuters, XREX Inc, Thomson Locations: SINGAPORE, Asia, Singapore, Tokyo

LONDON/SINGAPORE, June 6 (Reuters) - Investors have pulled around $790 million from the crypto exchange Binance and its U.S. affiliate in the last 24 hours, data firm Nansen said on Tuesday, a day after a top U.S. regulator sued both exchanges. Binance saw net outflows of $778.6 million of crypto tokens on the ethereum blockchain, with its U.S. affiliate, Binance.US, registering net outflows of $13 million, Nansen tweeted. The U.S. Securities and Exchange Commission on Monday sued Binance, its CEO Changpeng Zhao and the operator of Binance.US over what it called a "web of deception" to evade U.S. laws. The world's biggest cryptocurrency was last at $25,723, flat on the day but pinned near a more than two-month low. The SEC complaint is the latest in a series of legal headaches for Binance.

Persons: Nansen, Binance, Changpeng Zhao, Tony Sycamore, Binance's BNB cryptocurrency, Zhao, Tom Wilson, Rae Wee, Ankur Banerjee, Kevin Buckland, Sonali Paul, Tom Hogue, Louise Heavens Organizations: LONDON, U.S, Binance.US, U.S . Securities, Exchange Commission, Monday, SEC, Reuters, IG Markets, U.S . Commodity Futures Trading Commission, Thomson Locations: SINGAPORE, U.S, London, Singapore, Tokyo

Fed officials pointed toward a rate hike "skip" at its June 13-14 meeting, giving time for the central bank to assess the impact of its tightening cycle thus far against still-strong inflation data. U.S. manufacturing contracted for a seventh straight month in May as new orders continued to plummet amid higher interest rates, but factories boosted employment to a nine-month high. "We have made clear that we still have ground to cover to bring interest rates to sufficiently restrictive levels," Lagarde said in a speech. Money markets are pricing in an 85% chance of a 25 basis point hike when the ECB meets on June 15. "There's a sort of narrowing interest rate differential ... when the ECB is expected to hike one or two more times and the Fed is more questionable about that."

Persons: Christine Lagarde, Edward Moya, Patrick Harker, payrolls, Lagarde, John Velis, Hannah Lang, Joice Alves, Rae Wee, Andrew Heavens, Will Dunham, Mark Potter, Leslie Adler Organizations: Federal Reserve, Reserve, European Central Bank, Fed, OANDA, Philadelphia Federal, ADP, Institute for Supply Management, ECB, BNY Mellon, Thomson Locations: OANDA . U.S, Washington, London, Singapore

☆ Euro steadies after Lagarde promises rate hike as inflation still too high
▼ + stars: | 2023-06-01 | by ( Joice Alves | ) www.reuters.com time to read: +3 min

LONDON, June 1 (Reuters) - The euro held its ground on Thursday, above a two-month low, after European Central Bank (ECB) President Christine Lagarde said inflation remains too high and further policy tightening was necessary. But the current level is still more than three times the ECB's 2% inflation target. "Today, inflation is too high and it is set to remain so for too long," Lagarde said in a speech. Money markets are pricing in an 85% chance of a 25 bps hike when the ECB meets on June 15. Another 25 bps hike is expected in July, according to Refinitiv.

Persons: Christine Lagarde, Lagarde, Simon Harvey, Luis de Guindos, Carol Kong, Joice Alves, Rae Wee, Simon Cameron, Moore, Sharon Singleton, Andrew Heavens Organizations: European Central Bank, ECB, Reserve, U.S . House, Fed, U.S, Democratic, Commonwealth Bank of Australia, Thomson Locations: Europe, London, Singapore

☆ Investors relieved after US House votes to suspend debt ceiling
▼ + stars: | 2023-06-01 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Asian markets were trading higher when the bill cleared the house and held their gains. Treasury yields rose marginally. The bill would suspend the federal government's borrowing limit until 2025, allowing the Treasury to sell debt to pay its obligations. Two-year Treasury yields rose 2.7 basis points to 4.417%, while currency markets were broadly steady. Debt ceiling concerns periodically weighed on stock markets over the last week, although most investors expected an 11th-hour agreement.

Persons: Brendan McDermid, Joe Biden's, Ray Attrill, Biden, Brad McMillan, Jarrod Kerr, Caroline Valetkevitch, Kevin Buckland, Rae Wee, Ira Iosebashvili, David Gregorio, Lincoln Organizations: New York Stock Exchange, REUTERS, Investors, U.S . House, Senate, Republican, National Australia Bank, Treasury, White, Commonwealth Financial Network, Thomson Locations: New York City, U.S, Tokyo, Singapore

☆ Dollar retreats as Fed pause eyed; U.S. debt deal clears House
▼ + stars: | 2023-06-01 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

The dollar was mixed in Asia trade and barely reacted to the vote, with the euro rising 0.04% against the greenback to $1.06895. Fed officials including the vice chair-designate pointed towards a rate hike "skip" in June, giving time for the U.S. central bank to assess the impact of its tightening cycle thus far against still strong inflation data. Elsewhere, the Japanese yen rose nearly 0.1% to 139.24 per dollar. CHINA'S BUMPY RECOVERYIn Asia, the Chinese offshore yuan rose over 0.1% to 7.1077, reversing some of its losses from the previous session, when it slumped to a six-month low. The yuan had fallen nearly 3% against the dollar in both the onshore and offshore markets in May, as China's post-COVID economic recovery struggles to gain steam.

Persons: Sterling, Carol Kong, Christopher Wong, Rae Wee, Christian Schmollinger Organizations: Federal Reserve, House, Democratic, U.S, Fed, Commonwealth Bank of Australia, U.S ., New, People's Bank of China, Thomson Locations: SINGAPORE, Asia, Japan, China, New Zealand

☆ Investors relieved after US House votes to suspend debt ceiling; focus turns to Senate
▼ + stars: | 2023-05-31 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Persons: Joe Biden's, Ray Attrill, Biden, Brad McMillan, Jarrod Kerr, Caroline Valetkevitch, Kevin Buckland, Rae Wee, Ira Iosebashvili, David Gregorio, Lincoln Organizations: Investors, U.S . House, Senate, Republican, National Australia Bank, Treasury, White, Commonwealth Financial Network, Thomson Locations: U.S, Tokyo, Singapore

☆ Dollar nudges lower as U.S. debt ceiling deal dents safe-haven appeal
▼ + stars: | 2023-05-29 | by ( Dhara Ranasinghe | ) www.reuters.com time to read: +4 min

Summary Dollar edges down following U.S. debt ceiling dealRisk currencies rallyTurkish lira touches new record lowLONDON, May 29 (Reuters) - The dollar nudged lower on Monday, pulling back from six-month peaks against the yen as a U.S. debt ceiling deal lifted risk appetite across world markets and dented the greenback's safe-haven appeal. Having briefly touched a six-month high of 140.91 yen during Asia trade, the dollar drifted lower and was last down 0.25% at 140.25 yen. "We've got a risk-positive response so far to the debt deal news," said Ray Attrill, head of FX strategy at National Australia Bank. "Obviously there's still the need to get this debt deal over the line, but I think markets are happy to travel on the presumption that it will get done before the new X-date." Talk that the U.S. rate hiking cycle may not be over as soon as hoped given signs of economic strength have bolstered the dollar this month and could support the currency even as U.S. debt ceiling worries abate.

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