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☆ Dollar falls after Fed signals pause; banking woes dent confidence
▼ + stars: | 2023-05-04 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

"Additional tightening may be needed ... but the FOMC does not appear to be pre-committing to another rate hike on June 14." The U.S. dollar index was last 0.12% lower at 101.11, after dropping more than 0.6% in the previous session. "There are a lot of concerns in the U.S. around the banking sector and the crunch on credit. "So I think central banks, including the Fed, are at or very near the peak in their cash rates." The European Central Bank (ECB) comes under the spotlight next, where expectations are for ECB policymakers to raise interest rates for the seventh meeting in a row later on Thursday.

☆ US dollar gains as inflation data backs Fed rate hike; yen sinks
▼ + stars: | 2023-04-28 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com time to read: +3 min

The dollar index, a measure of the greenback's value against six major currencies, rose 0.1% to 101.54 . Friday's data showed the personal consumption expenditures (PCE) price index edged 0.1% higher in March after rising 0.3% in February. In the 12 months through March, the PCE price index increased 4.2% after climbing 5.1% in February. The so-called core PCE price index gained 4.6% on a year-on-year basis in March after rising 4.7% in February. Following the inflation data, the rate futures market has priced in a 90% chance of a 25 basis-point hike next week.

☆ U.S. dollar advances as inflation data affirms Fed rate hike next week
▼ + stars: | 2023-04-28 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com time to read: +2 min

The dollar index, a measure of the greenback's value against six major currencies, rose 0.7% to 102.10 . In the 12 months through March, the PCE price index increased 4.2% after climbing 5.1% in February. Excluding the volatile food and energy components, the PCE price index inched up 0.3% after increasing at the same rate in February. The so-called core PCE price index gained 4.6% on a year-on-year basis in March after rising 4.7% in February. Following the data, the rate futures market has priced in a 90% chance of a 25 basis-point hike next week.

☆ U.S. dollar holds gains after inflation data
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: 1 min

[1/2] U.S. dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustration/File PhotoSINGAPORE, April 28 (Reuters) - The U.S. dollar held gains after data showed inflation rose in March, keeping the Federal Reserve firmly on track to raise interest rates at next week's policy meeting. The dollar index rose 0.7% to 102.10 . Against the yen, the greenback rose 1.5% to 136.07 yen . Our Standards: The Thomson Reuters Trust Principles.

A flood of inflation data releases were also mixed. The International Monetary Fund called on the ECB on Friday to keep raising interest rates until the middle of 2024 to help bring down high inflation. Versus the yen , the euro briefly rose to its highest level since December 2014 at 149.50. It was last up 1.2% at 149.35 yen after the BOJ left its ultra-easy monetary policy unchanged even as it scrapped a pledge to keep interest rates low. However, the central bank removed a pledge to keep interest rates at "current or lower levels" and said it would "conduct a broad-perspective review of monetary policy".

REUTERS/Edgar SuSINGAPORE, April 27 (Reuters) - Vera Liu, a Singapore property agent, was panicking in the wee hours of Thursday morning after new property taxes saw two of her deals fall through. Policymakers are growing concerned that foreign investors increasingly see Singapore property as a hot asset class, squeezing out locals. Christine Sun, the senior vice president of research & analytics at OrangeTee & Tie, called it a "freezing measure" for foreign buyers. Shares of Singapore property companies fell on Thursday, with City Development (CTDM.SI) and UOL Group (UTOS.SI), which have large Singapore footprints, hit hardest. "There's little impact on the other 90%," said Mak, who has been analysing Singapore property for more than two decades.

☆ Dollar edges lower; on track for second straight monthly loss
▼ + stars: | 2023-04-24 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

The U.S. dollar dipped against most major currencies in early Asia trade, with the euro and sterling rising 0.05% to $1.0994 and 0.02% to $1.2447, respectively. "There's nothing, as yet, to hang your hat on rate cuts in the second half of the year." Elsewhere, the kiwi gained 0.07% to $0.6143, while the U.S. dollar index slipped 0.02% to 101.66. The index was eyeing a monthly loss of close to 0.9%, having fallen more than 2% in March. In Asia, the Bank of Japan's policy meeting this week takes centre stage, as it marks the first meeting to be chaired by new BOJ Governor Kazuo Ueda.

☆ Dollar snaps five-week losing streak as bets on US rate hike in May firm
▼ + stars: | 2023-04-21 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

The dollar slipped against the Japanese yen in early Asia trade, though it rose against most major currencies, with the U.S. dollar index edging 0.06% higher to 101.84. Rising expectations that the Fed will raise interest rates by 25 basis points in May have lent some support to the greenback. "I don't think Ueda is going to change policy at his first meeting next week," said CBA's Capurso. In other currencies, the Aussie was last 0.07% lower at $0.6738, while the kiwi fell 0.12% to $0.61705. Data out on Thursday showed that New Zealand's consumer price inflation was lower than expectations in the first quarter, though it remained near historic highs.

SINGAPORE, April 17 (Reuters) - The dollar edged higher on Monday after the April survey of business activity in New York state rose for the first time in five months and bolstered expectations the Federal Reserve will raise interest rates in May. The new orders index rose 47 points to 25.1, while the shipments index added 37 points to 23.9, substantial increases after they had declined in recent months, the Federal Reserve Bank of New York said. "It's the best reading since last July with a big jump in orders and has taken the dollar higher on this," said Marc Chandler, chief market strategist at Bannockburn Global Forex in New York. The outlook of U.S. interest rates relative to the monetary policies and economies of other countries can boost or erode the dollar's value. The Mexican peso lost 0.51% versus the dollar to trade at 18.12, while the Canadian dollar fell 0.31% versus the greenback to 1.34 per dollar.

SINGAPORE, April 17 (Reuters) - The dollar climbed to a one-month high against Japan's yen on Monday as traders eyed up another interest rate hike from the Federal Reserve, while the Bank of Japan stuck to its easy money policies. Expectations of higher interest rates relative to global peers tend to boost a currency by making investments there look more attractive, and vice versa. Reuters GraphicsMeanwhile, pricing in derivatives markets shows traders think there's a roughly 84% chance the Fed will hike rates again by 25 basis points in May, up from around 69% last week . It hit a one-year high of $1.108 on Friday, with traders expecting further interest rate hikes from the European Central Bank even as the Fed nears a pause. Foley expects one more 25 basis point rate hike from the Fed in May before it holds rates steady for the rest of the year.

☆ Dollar bounces as expectations of Fed rate hike climb
▼ + stars: | 2023-04-17 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

While U.S. retail sales fell more than expected in March, so-called core retail sales, which excludes automobiles, gasoline, building materials and food services, slipped just 0.3% last month, data released on Friday showed. So I think that will increase (expectations) for the Fed to continue raising interest rates," said Tina Teng, market analyst at CMC Markets. The two-year U.S. Treasury yield , which typically moves in step with interest rate expectations, stood at 4.1161%, after hitting a roughly two-week top of 4.137% on Friday. Some hawkish Fed speak also aided the higher interest rate expectations, with Fed Governor Christopher Waller and Atlanta Fed President Raphael Bostic suggesting that the Fed could hike another 25 bps next month. The offshore yuan fell roughly 0.1% to 6.8786 per dollar.

☆ Dollar set for longest stretch of weekly losses since 2020
▼ + stars: | 2023-04-14 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

The dollar index , which measures the performance of the U.S. currency against six others, slid to a roughly one-year low of 100.78. This would mark a fifth straight weekly loss, the longest such stretch since July 2020. Out of the G10 currencies, investors hold the largest bearish position in the dollar against the euro. The New Zealand dollar rose 0.1% to $0.63035, after jumping 1.3% on Thursday. The Japanese yen rose marginally, leaving the dollar 0.2% down on the day at 132.27, while the offshore yuan rose 0.4% to 6.8463 per dollar.

☆ Dollar sinks to one-year low as cooling inflation raises Fed pause expectation
▼ + stars: | 2023-04-14 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

[1/2] Dollar banknotes are seen through a printed stock graph in this illustration taken February 7, 2018. The greenback took another leg down on Friday and the U.S dollar index , which measures the currency against six major peers, slid to a roughly one-year low of 100.78. Meanwhile, the euro rose to a fresh one-year top of $1.1075, pushing past its previous high from Thursday. The New Zealand dollar similarly gained 0.19% to $0.6309, after jumping 1.3% on Thursday. Elsewhere in Asia, Japan's yen rose marginally to 132.47 per dollar, while the offshore yuan gained more than 0.5% to 6.8327 per dollar.

☆ Take Five: How bad is it?
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +5 min

China and Britain release key economic data and officials from the Group of Seven nations talk climate goals. 1/ EARNINGS RECESSIONU.S. earnings season goes up a gear and the outlook is gloomy due to the regional banking crisis and the most aggressive monetary policy tightening in decades. Analysts expect Q1 S&P 500 earnings to fall 5.2% from the year-ago period, Refinitiv I/B/E/S data as of April 7 showed. In a sign of which way the authorities want lending rates to head, smaller regional banks have already cut deposit rates. China GDP vs 1-year MLF rate4/ NO ALARMS, NO SURPRISESIt's a big week for UK data, with February jobs figures on Tuesday and March inflation numbers Wednesday.

SINGAPORE/LONDON, April 12 (Reuters) - The dollar dipped on Wednesday with investors expecting U.S. inflation data out later in the day to hold some clues on how soon U.S. interest rates will peak. The U.S. inflation data for March is forecast to come in at 5.2% year-on-year, down from 6.0% previously, while core inflation likely ticked higher to 5.6%, according to a Reuters poll of economists. Inflation data "could be the difference between a 25bp hike or pause at the Fed's next meeting in May," said Matt Simpson, senior market analyst at City Index, adding that money markets could "quickly revert to reprice a policy pause" if the inflation data comes in softer than expected. A raft of Fed speakers on Tuesday offered little guidance on how much further U.S. interest rates would rise. New York Fed President John Williams said it depended on incoming data.

☆ Dollar slips ahead of US inflation data, still hits month high against yen
▼ + stars: | 2023-04-12 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

SINGAPORE, April 12 (Reuters) - The dollar dipped on Wednesday against most major currencies, with the exception of the yen, with investors expecting U.S. inflation data out later in the global day to hold some clue on how soon U.S. interest rates will peak. The U.S. inflation data for March is forecast to come in at 5.2% year-on-year, down from 6.0% previously, while core inflation likely ticked higher to 5.6%, according to a Reuters poll of economists. A raft of Fed speakers on Tuesday offered little guidance on how much further U.S. interest rates would rise. New York Fed President John Williams said it depended on incoming data. Against the yen , the dollar rose to a nearly one-month high of 134.045, a reflection of the stark contrast between the Fed's aggressive monetary policy tightening cycle and the Bank of Japan's (BOJ) ultra-loose policy.

☆ Binance.US to delist digital asset tokens TRON, Spell
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +1 min

SINGAPORE, April 12 (Reuters) - The U.S. arm of cryptocurrency exchange Binance said it will remove digital asset tokens TRON and Spell from its trading platform, sending the prices of both down sharply on Wednesday. The TRON token fell nearly 5% against the U.S. dollar after the announcement, which was posted on Twitter and the Binance.US website, while the much smaller Spell token fell more than 5%, based on data from CoinMarketCap. Justin Sun, founder of the TRON token, told Reuters in a text message that the impact would be "relatively small". "Binance.US trading volume is less than $1 million per day. TRX's current trading volume is $400 million," said Sun, using the token's ticker symbol.

☆ Dollar dips ahead of key US inflation data
▼ + stars: | 2023-04-12 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

SINGAPORE, April 12 (Reuters) - The U.S. dollar slipped on Wednesday ahead of a closely-watched inflation reading later in the day that will provide clues on the path of Federal Reserve interest rate hikes. Following last week's solid U.S. jobs data, all eyes are now on the inflation report, with currency moves subdued ahead of the release. A Reuters poll of economists have forecast headline inflation in March to come in at 5.2% year-on-year, down from 6.0% previously, while core inflation likely ticked higher to 5.6%. Meanwhile, Philadelphia Fed Bank President Patrick Harker said he feels that the end of rate hikes may be near. On Tuesday, Chicago Fed President Austan Goolsbee said that the U.S. central bank should be patient about raising interest rates in the face of recent banking sector stress.

Bitcoin peaked at $30,438 in Asian trade and was last up 1.4% at $30,070. It has gained nearly 6% since the start of the month, after rising 23% in March. This brings digital asset flows back into positive territory for the year, the report showed. "If (bitcoin) can survive the week over $30,000, we are going higher." While Shapella is not likely to directly drive sell pressure on ether, there could be heightened volatility around the event, Bank of America strategist Alkesh Shah said.

☆ Bitcoin pushes past $30,000 as investors eye end of rate rises
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +2 min

SINGAPORE, April 11 (Reuters) - Major cryptocurrency bitcoin breached the key $30,000 level for the first time in 10 months on Tuesday, adding to its steady gains as investors raised bets that the U.S. Federal Reserve will soon end its aggressive monetary tightening campaign. Bitcoin peaked at $30,438 in Asian trade and was last 2% higher at $30,262. It has gained about 6% since the start of the month, after rising 23% in March. "Bets for a sooner Fed pivot on rate hikes have been dramatically strengthened following the bank turmoil in early March." Reporting by Rae Wee; Editing by Vidya Ranganathan and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

The slew of soft economic data has added to fears of an impending recession in the world's largest economy, putting a lid on risk appetite and sending traders in search of some safe haven assets. The U.S. dollar index was up 0.1% at 101.95, having slid to a two-month trough of 101.40 in the previous session. The Japanese yen also found some support from safe haven bids and was last roughly 0.2% higher at 131.01 per dollar. "Weak economic data continues to weigh in on investor sentiment, triggering a flight-to-safety bid," analysts at Westpac said in a note to clients. The soft data sent U.S. shares lower on Wednesday STX/ while Treasuries advanced, which saw the benchmark 10-year yield falling to its lowest since September .

Chinese demand is helping boost Singapore property prices, Chinese students are snapping up apartments in Sydney and Melbourne, and agents say Chinese interest is ticking up in Thailand. But they indicate that in the wake of the pandemic, Chinese families are looking to relocate assets, and even themselves, overseas. Home purchases in Singapore, where Chinese are the top foreign buyers, cooled early in 2023 from last year's torrid pace - but only slightly despite a steep rise in real estate stamp duties. The Singapore American School has "seen significant interest from Chinese families looking to enrol," it said in a statement responding to Reuters questions. Canada, another real estate market popular with Chinese investors, has put a two-year ban on foreign purchasers.

☆ Dollar languishes as bank crisis fears ebb on Credit Suisse rescue
▼ + stars: | 2023-03-21 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

SINGAPORE, March 21 (Reuters) - The dollar regained some ground on Tuesday but was pinned near a five-week low as traders tiptoed back into riskier assets after UBS' state-backed takeover of Credit Suisse allayed some fears of a widespread, systemic banking crisis. "There has been pretty modest demand for U.S. dollars at the Fed swap lines, so that is a positive sign in and of itself," said Carol Kong, a currency strategist at Commonwealth Bank of Australia (CBA). The dollar slipped 0.12% to 131.15 against the Japanese yen , while the U.S. dollar index , which measures the greenback against a basket of currencies, fell 0.04% to 103.30. Lower U.S. rate expectations also added to downward pressure on the dollar ahead of the Fed's two-day policy meeting commencing later on Tuesday. The Reserve Bank of New Zealand said on Tuesday it saw no immediate need to request the reinstatement of a U.S. dollar swap line that expired in 2021.

Credit Suisse declined to comment on the banks' actions. MARKET TROUBLES LINGERBanking stocks globally have been battered since Silicon Valley Bank collapsed, raising questions about other weaknesses in the wider financial system. A view of the Park Avenue location of the First Republic Bank, in New York City, U.S., March 10, 2023. The supervisors were told deposits were stable across the euro zone and exposure to Credit Suisse was immaterial, a source familiar with the meeting's content told Reuters. "Japan's financial system remains stable as a whole," Kishida told a news briefing.

Credit Suisse fell 8% in Europe and First Republic tumbled 30%. Banking troubles revived memories of the 2008 financial crisis, when dozens of institutions failed or were bailed out with billions of dollars of government and central bank money. Earlier this week, the franc plunged the most against the dollar in one day since 2015, when the Swiss central bank loosened its currency peg. Japan's Ministry of Finance, Financial Services Agency and Bank of Japan officials met on Friday evening to discuss financial markets. Masato Kanda, vice finance minister for international affairs, told reporters after the trilateral meeting that the government, the central bank and the banking watchdog would coordinate to ensure the stability of the financial system.

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