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☆ Dollar drifts as investors eye Powell speech, yen wobbles near intervention zone
▼ + stars: | 2023-10-17 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

The yen was pinned close to the key 150 per dollar level, keeping traders on edge for any signs of intervention by the Japanese authorities. The yen last fetched 149.62 per dollar, having slipped to 150.17 on Oct. 3, the weakest in a year, before getting some relief in a brief rally. The dollar index , which measures the U.S. currency against six rivals, eased 0.038% to 106.20, after dropping 0.36% on Monday. Federal Reserve Bank of Philadelphia President Patrick Harker said on Monday the central bank should not create new pressures in the economy by increasing the cost of borrowing. Christopher Wong, currency strategist at OCBC, said the dollar is likely caught in a range for now.

Persons: Dado Ruvic, Powell, Masato Kanda, Israel's shekel, Charu, Jerome Powell, Patrick Harker, Harker, Christopher Wong, Wong, Ankur Banerjee, Shri Navaratnam Organizations: REUTERS, Rights, U.S ., Swiss, Palestinian, Hamas, Saxo, Federal Reserve Bank of Philadelphia, Reserve Bank of Australia's, News Zealand, Thomson Locations: Rights SINGAPORE, East, Singapore, Australia's

☆ Morning Bid: Equity bounce ebbs with eyes on Middle East
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +2 min

Israeli soldiers stand near to a tank near Israel's border with Lebanon in northern Israel, October 16, 2023. U.S. and European equity futures were flat, while MSCI's broadest index of Asia-Pacific stocks outside Japan (.MIAPJ0000PUS) rose 0.7%. British wages data, U.S. retail sales figures and corporate earnings are the calendar items in focus. In China, where gross domestic product data is due on Wednesday, Country Garden (2007.HK) was on the brink of a possible offshore default. Reuters reported China's civil servants and state-enterprise employees face tighter travel constraints, as Beijing wages a campaign against foreign influence.

Persons: Lisi Niesner, Tom Westbrook, Vladimir Putin, Joe Biden, Goldman Sachs, Johnson, Edmund Klamann Organizations: REUTERS, U.S, Israel, Investors, Tel, HK, Reuters, Bank of Australia, Bank of America, Thomson Locations: Lebanon, Israel, Tom, Tom Westbrook Asia, Asia, Pacific, Japan, Russian, Beijing, China, Iran, Tel Aviv, Australia, New Zealand

☆ Australia stocks rise ahead of central bank minutes; New Zealand inflation hits 2-year low
▼ + stars: | 2023-10-17 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Australia stocks gained ahead of minutes from its central bank's last policy meeting, while the New Zealand dollar weakened following an inflation reading, the first since the elections over the weekend. New Zealand's inflation rate hit a two-year low, coming in at 5.6% in the third quarter and down from 6% in the previous quarter. The minutes from the Reserve Bank of Australia will detail the central bank's rationale for holding its benchmark lending rates at 4.1% during its October monetary policy meeting, the fourth straight month that it has kept rates unchanged.

Organizations: New Zealand, Reserve Bank of Australia

☆ Australia's central bank considered raising rates in October, RBA minutes show
▼ + stars: | 2023-10-17 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Reserve Bank of Australia (RBA) at the central bank's building in Sydney, Australia on May 2, 2022. Australia's central bank considered a rate hike of 25 basis points at its monetary policy meeting on Oct. 3, but eventually opted to hold its benchmark lending rate at 4.1%. In minutes released by the Reserve Bank of Australia, board members noted that inflation remained well above its target of 2% to 3%, and was "expected to do so for some time." "The tightening of monetary policy since May 2022 was still permeating through the economy and it would take some time for the full effects of this to be observed in the data," the minutes showed. In light of both sides of the argument, the RBA concluded there was not enough new information from financial markets or economic data to adjust its monetary policy in October.

Organizations: Bank of Australia, Reserve Bank of Australia Locations: Sydney, Australia, Australia's

REUTERS/Issei Kato/File photo Acquire Licensing RightsOct 17 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Could stocks - and global risk appetite, by extension - be gaining a momentum of their own regardless of what the bond market does? Wall Street's main indexes and the benchmark MSCI indexes for world, Asian and emerging stocks are all higher since the Oct. 7 Hamas attack on Israel. That said, investors in Asia should keep a close eye on the dollar, which is still trading up near 150.00 yen and over 7.30 yuan. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Issei Kato, Jamie McGeever, Wall, Fed's Williams, Bowman, Putin, Xi, Josie Kao Organizations: REUTERS, Reserve Bank of, U.S ., ICE, U.S, Treasury, Thomson, Reuters Locations: Tokyo, Japan, Asia, Israel, Australia, Beijing

☆ Australia central bank sees possible cost savings in tokenisation
▼ + stars: | 2023-10-15 | by ( ) www.reuters.com time to read: +2 min

A worker is reflected in a wall of the Reserve Bank of Australia (RBA) head office in central Sydney, Australia, March 1, 2016. REUTERS/David Gray/File Photo Acquire Licensing RightsSYDNEY, Oct 16 (Reuters) - Australia's central bank on Monday said tokenised money could help save billions of dollars in costs in domestic financial markets, as it studies whether and how to launch a central bank digital currency. Australia's government on Monday separately outlined proposals for regulating crypto and digital assets that will make platforms subject to existing Australian financial services laws and require platform operators to obtain an Australian Financial Services Licence. The RBA has been studying whether to issue a central bank digital currency (CBDC) of its own and if it would help facilitate atomic settlement in tokenised asset markets. A wholesale CBDC could also act as a complement to new forms of privately issued digital money, including tokenised bank deposits and asset-backed stablecoins.

Persons: David Gray, Brad Jones, Jones, tokenisation, " Jones, Wayne Cole, Jamie Freed Organizations: Reserve Bank of Australia, REUTERS, Rights, Australian Financial, Treasury, Thomson Locations: Sydney, Australia

☆ Dollar hovers near two-week lows ahead of inflation data
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +3 min

The employee of a currency exchange shop counts U.S. dollar banknotes in Ciudad Juarez, Mexico July 27, 2023. The report comes ahead of the release on Thursday of September's consumer price index data, which is expected to show inflation moderated last month. "On the flip side, an upside surprise will likely encourage markets to reprice higher the chance the Federal Open Market Committee will follow through on its projected 25 basis point hike." Futures markets are pricing in a 26% chance of a 25 basis point hike in the December meeting and a 9% chance of a 25 basis point hike in November meeting, according to the CME FedWatch tool. The Japanese yen strengthened 0.03% to 149.11 per dollar, while sterling was last trading at $1.2311, flat on the day.

Persons: Jose Luis Gonzalez, Ryan Brandham, Carol Kong, Ankur Banerjee, Sam Holmes Organizations: REUTERS, Rights, Federal Reserve, Validus Risk Management, Fed, Commonwealth Bank of Australia, European Central Bank, Thomson Locations: Ciudad Juarez, Mexico, Rights SINGAPORE, U.S, North America, Tokyo, Singapore

☆ Dollar loses steam ahead of Fed meeting minutes, U.S. inflation test
▼ + stars: | 2023-10-11 | by ( ) www.cnbc.com time to read: +3 min

Atlanta Fed Bank President Raphael Bostic said on Tuesday the central bank did not need to raise borrowing costs any further, and Minneapolis Fed President Neel Kashkari followed with similar remarks later in the day. U.S. Treasury yields have similarly tracked lower following the dovish Fed comments, with the two-year yield, which typically reflects near-term rate expectations, hitting a one-month low of 4.9260% on Tuesday. The focus now turns to minutes of the Fed's September policy meeting out later on Wednesday, which could offer further clues on its interest rate outlook. So I think markets are a little bit unsure whether that report is real," said CBA's Kong. The offshore yuan, which touched a roughly one-month high of 7.2700 per dollar on Tuesday, last bought 7.2839.

Persons: Raphael Bostic, Neel Kashkari, Sterling, Thierry Wizman, Carol Kong, CBA's Organizations: Treasury, dovish, Atlanta Fed Bank, Minneapolis Fed, U.S, Commonwealth Bank of Australia, New Zealand, Bloomberg Locations: U.S, Asia, China

☆ Dollar loses steam ahead of Fed meeting minutes, US inflation test
▼ + stars: | 2023-10-11 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. A slew of Fed officials have signalled in recent days that the U.S. central bank may not need to tighten monetary policy much further than initially thought. Atlanta Fed Bank President Raphael Bostic said on Tuesday the central bank did not need to raise borrowing costs any further, and Minneapolis Fed President Neel Kashkari followed with similar remarks later in the day. U.S. Treasury yields have similarly tracked lower following the dovish Fed comments, with the two-year yield , which typically reflects near-term rate expectations, hitting a one-month low of 4.9260% on Tuesday. The offshore yuan , which touched a roughly one-month high of 7.2700 per dollar on Tuesday, last bought 7.2839.

Persons: Rick Wilking, Raphael Bostic, Neel Kashkari, Sterling, Thierry Wizman, Carol Kong, CBA's, Rae Wee, Jamie Freed Organizations: REUTERS, Rights, Treasury, dovish, Atlanta Fed Bank, Minneapolis Fed, U.S, Commonwealth Bank of Australia, New Zealand, Bloomberg, Thomson Locations: Westminster , Colorado, Rights SINGAPORE, U.S, Asia, CHINA, China

☆ Australia unveils draft law to regulate digital payment providers
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

[1/2] A smartphone with Apple Pay and Google Pay logos is placed on a laptop in this illustration taken on July 14, 2021. Apple Pay, Google Pay and China's WeChat Pay, which have grown rapidly in recent years, are not currently designated as payment systems, putting them outside Australia's financial regulatory system. The proposed rules would enable the Reserve Bank of Australia (RBA) to monitor digital wallet payments in the same way as credit card networks and other transactions. The draft law would expand the definitions of "payment system" and "participant" in Australia's existing laws, treasury documents showed. Payments infrastructure and the regulatory framework have not kept pace with transitions in finance, particularly in Australia's digital economy and payments.

Persons: Dado Ruvic, Jim Chalmers, Renju Jose, Stephen Coates Organizations: Apple, REUTERS, Rights, Google, Reserve Bank of Australia, Australian Banking Association, Thomson Locations: Sydney

☆ Asia shares pick up after Fed rate comments; oil dips
▼ + stars: | 2023-10-10 | by ( Kane Wu | ) www.reuters.com time to read: +4 min

U.S. stocks ended higher on Monday, with energy shares rising along with oil prices. The S&P 500 energy index (.SPNY) ended up 3.5%. Oil prices eased after climbing more than 4% on Monday. "The unrest and volatility in the near-term suggest that upside risks to oil prices will persist," said OCBC economists in a note. This will lead to some volatility in oil prices during intense periods of conflict but should see prices normalize, following the knee-jerk reaction."

Persons: Androniki, Kerry Craig, Australia's, Brent, Kane Wu, Stella Qiu, Edmund Klamanhn, Kim Coghill Organizations: Nikkei, REUTERS, dovish, Top Fed, Hamas, Asset Management, Garden Holdings, HK, National Bank of Australia, U.S, West Texas, Thomson Locations: Tokyo, Japan, HONG KONG, East, Europe, U.S, Asia Pacific, China, Israel, Palestinian, Gaza, Hong Kong, Sydney

☆ Asia shares rise after Fed comments, markets' eyes on Middle East
▼ + stars: | 2023-10-10 | by ( Kane Wu | ) www.reuters.com time to read: +3 min

MSCI's gauge of Asia Pacific stocks outside Japan (.MIAPJ0000PUS) was up 1.2% at 0135 GMT. Japan's benchmark Nikkei average (.N225) rose 2.4% while Australia's S&P/ASX 200 (.AXJO) rose for a fourth straight session to gain 1.2%. Top Fed officials indicated on Monday that rising Treasury yields could steer the Fed from further rate increases, helping to spur a rise in bond prices after those markets had been closed the previous day in the U.S. and Tokyo. The markets' initial reaction to the major geopolitical developments in the Middle East was a bout of risk aversion, analysts from National Bank of Australia said in a note. Ten-year Treasury yields , which have been surging, fell more than 13 basis points to 4.6% at the open in Tokyo as bond prices rallied after Monday's holiday.

Persons: Androniki, Australia's, Kerry Craig, Brent, Kane Wu, Stella Qiu, Edmund Klamanhn Organizations: Nikkei, REUTERS, dovish, Top Fed, Tokyo ., Hamas, Asset Management, Garden Holdings, HK, National Bank of Australia, U.S, West Texas, Thomson Locations: Tokyo, Japan, HONG KONG, Asia Pacific, U.S, Israel, Palestinian, Gaza, Hong Kong, Sydney

☆ Middle East violence rattles markets, oil jumps
▼ + stars: | 2023-10-09 | by ( Reuters Staff | ) www.reuters.com time to read: +5 min

MARKET REACTION:- Oil prices surged, with Brent crude trading at $87.25 a barrel - up over 3% on the day. COMMENTS:MOHIT KUMAR, CHIEF EUROPE ECONOMIST, JEFFERIES, LONDON:“The coming days are likely to be driven by geopolitical risks, rather than fundamentals. “Second, OPEC countries do have spare capacity that they restrict willingly to maintain oil price at above $80 (per barrel), but they don’t necessarily think of tripling oil prices – which would only accelerate the energy transition. “This being said, potential retaliation against Tehran is a serious upside risk for oil prices. We will keep an eye on developments, but don’t speculate on a full-blast rise in oil prices for now.”

Persons: Mohammed Salem, Israel’s shekel, MOHIT KUMAR, JEFFERIES, ”, ” CHRIS BEAUCHAMP, Brent, WTI, CAROL KONG, JPY, ” MICHAEL HEWSON, ALVIN TAN, Blinken, “, ” IPEK OZKARDESKAYA, Israel Organizations: Oil, REUTERS, Brent, U.S, Treasury, British Airways, LONDON, Russo, COMMONWEALTH BANK OF, CMC, U.S ., OF, OF ASIA FX, RBS, SWISSQUOTE BANK Locations: Israel, Gaza, Egypt, Yom, EUROPE, Iran, Ukrainian, SYDNEY, Asia, Japan, Straits, Hormuz, OF ASIA, ” “, GENEVA, OPEC, U.S, Tehran

"Increasing geopolitical risk in the Middle East should support oil prices ... higher volatility can be expected" analysts from ANZ Bank said in a client note. An increase in Saudi output would have helped to relieve supply tightness after months of supply cuts from key producers Saudi Arabia and Russia. A normalisation of Saudi-Israeli relations would likely freeze recent moves toward detente between Saudi Arabia and Iran. "For this conflict to have a lasting and meaningful impact on oil markets, there must be a sustained reduction in oil supply or transport," Vivek Dhar, an analyst at Commonwealth Bank of Australia, said in a note. "If Western countries officially link Iranian intelligence to the Hamas attack, then Iran’s oil supply and exports face imminent downside risks," Dhar said.

Persons: Agustin Marcarian, Brent, WTI, Iran's, Vivek Dhar, Dhar, Andrew Hayley, Jamie Freed, Sonali Paul Organizations: REUTERS, Rights, Hamas, Brent, U.S, West Texas, Saturday, ANZ Bank, Israel, White, Commonwealth Bank of Australia, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Rights BEIJING, Palestinian, Israel, Gaza, Saudi Arabia, Washington, Riyadh, Saudi, Russia, Iran, Lebanon

Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsBEIJING, Oct 9 (Reuters) - Oil prices jumped more than $3 a barrel in early Asian trade on Monday, as dramatic military clashes between Israeli and Hamas forces over the weekend deepened political uncertainty across the Middle East. "Increasing geopolitical risk in the Middle East should support oil prices... higher volatility can be expected" analysts from ANZ Bank said in a client note. "For this conflict to have a lasting and meaningful impact on oil markets, there must be a sustained reduction in oil supply or transport," Vivek Dhar, an analyst at Commonwealth Bank of Australia, said in a note. "If Western countries officially link Iranian intelligence to the Hamas attack, then Iran’s oil supply and exports face imminent downside risks," Dhar said.

Persons: Agustin Marcarian, Iran's, Vivek Dhar, Dhar, Andrew Hayley, Jamie Freed Organizations: REUTERS, Rights, Hamas, Brent, U.S, West Texas, Saturday, Israel, ANZ Bank, Commonwealth Bank of Australia, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Rights BEIJING, Palestinian, Israel, Gaza, Saudi Arabia, Washington, Riyadh, Saudi, Iran, Lebanon

☆ Dollar pauses rally as markets brace for US nonfarm payrolls test
▼ + stars: | 2023-10-06 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. The dollar index , which earlier in the week hit a roughly 11-month high of 107.34, last settled at 106.37, but remained on track for 12 straight weeks of gains. The benchmark 10-year Treasury yield last stood at 4.7269%, while the two-year yield settled at 5.0267%. The pause in the dollar's rally has also provided a much-needed reprieve for the yen , which last bought 148.48 per dollar. Sterling edged 0.03% lower to $1.2188 and was likewise headed for five straight weeks of losses, struggling against a dominant dollar.

Persons: Rick Wilking, Rodrigo Catril, We've, Vishnu Varathan, Thierry Wizman, Rae Wee, Shri Navaratnam Organizations: REUTERS, Rights, . Treasury, greenback, U.S, Treasury, National Australia Bank, Bank of Japan, Ministry of Finance, Mizuho Bank ., Sterling, European Central Bank, Bank of England, Reserve Bank of Australia, New Zealand, Reserve Bank of New, Thomson Locations: Westminster , Colorado, Rights SINGAPORE, U.S, Reserve Bank of New Zealand

☆ Australia's central bank sees risks mounting in global markets, China property
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +3 min

Two women walk next to the Reserve Bank of Australia headquarters in central Sydney, Australia February 6, 2018. In an effort to curb surging inflation, the central bank has lifted interest rates to a decade-high of 4.1%, causing widespread financial stress among households where debt levels are at record peaks. "A small, but rising share of borrowers are on the cusp, or in the early stages, of financial stress," the review stated. "A tightening in global financial conditions could transmit to Australia via linkages in funding markets and risk aversion," the review said. Another area of concern was China's property sector where financial stress was proving a drag on the world's second largest economy and Australia's single biggest export market.

Persons: Daniel Munoz, Michele Bullock, Wayne Cole Organizations: Reserve Bank of Australia, REUTERS, Rights, Financial, Thomson Locations: Sydney, Australia, China, U.S, United States, AUSTRALIA

Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. "The worst week for crude since March is starting to attract buyers given the oil market will still remain tight over the short-term," Moya said. "We think that once markets start paying attention to falling global oil stockpiles, Brent oil futures will likely creep back up above $US90/bbl," the Commonwealth Bank of Australia said in a note on Friday. U.S. government data this week showed a sharp decline in U.S. gasoline demand, with economic data showing the U.S. services sector had slowed. "The non-farm payroll data tonight, the US CPI, and China's economic data next week will be key to steering oil's movements.

Persons: Agustin Marcarian, Brent, Bond, Edward Moya, Moya, Tina Teng, Sudarshan Varadhan, Sonali Paul, Stephen Coates Organizations: REUTERS, Rights, U.S, West Texas, JPMorgan, National Australia Bank, Commonwealth Bank of Australia, CPI, CMC Markets, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Rights SINGAPORE, U.S, United States

☆ Dollar pauses rally as markets brace for U.S. nonfarm payrolls test
▼ + stars: | 2023-10-06 | by ( ) www.cnbc.com time to read: +3 min

The dollar dipped on Friday but traders were largely keeping to the sidelines in both the currency and U.S. Treasury markets as they looked to U.S. nonfarm payrolls data later in the day for potential catalysts. The dollar index , which earlier in the week hit a roughly 11-month high of 107.34, last settled at 106.37, but remained on track for 12 straight weeks of gains. The benchmark 10-year Treasury yield last stood at 4.7269%, while the two-year yield settled at 5.0267%. The pause in the dollar's rally has also provided a much-needed reprieve for the yen , which last bought 148.48 per dollar. Sterling edged 0.03% lower to $1.2188 and was likewise headed for five straight weeks of losses, struggling against a dominant dollar.

Persons: Rodrigo Catril, We've, Vishnu Varathan, Thierry Wizman Organizations: . Treasury, greenback, U.S, Treasury, National Australia Bank, Bank of Japan, Ministry of Finance, Mizuho Bank ., Sterling, European Central Bank, Bank of England, Reserve Bank of Australia, New Zealand, Reserve Bank of New Locations: U.S, Reserve Bank of New Zealand

[1/2] Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. The dollar fell as low as 147.30 yen versus the Japanese currency, after hitting a one-year high of 150.165. Tuesday's low in the dollar was its weakest level in three weeks versus the Japanese currency. The euro dropped to a roughly two-month low against the yen of 154.39 yen and was last down 0.7% to 155.99. That earlier drove the dollar higher as real interest rates factor in inflation.

Persons: Florence Lo, Shunichi Suzuki, Colin Asher, Sterling, Marc Chandler, Jeremy Stretch, JGB, Herbert Lash, Gertrude Chavez, Dreyfuss, Lucy Raitano, Joice Alves, Marguerita Choy, Sharon Singleton Organizations: U.S, REUTERS, Japan, Japanese Finance, New York Federal Reserve, Mizuho, Bannockburn Global, U.S . Labor, Labor, Survey, CIBC Capital Markets, UST, Federal Reserve, Reserve Bank of Australia's, Swiss, Thomson Locations: Japan, London, Bannockburn, New York

☆ Australia central bank holds rates at 4.1% for fourth month
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: 1 min

SYDNEY, Oct 3 (Reuters) - Australia's central bank held interest rates steady on Tuesday for a fourth month, but again warned that further tightening might be needed to bring inflation to heel in a reasonable timeframe. Wrapping up its October policy meeting, the Reserve Bank of Australia (RBA) held rates at 4.10% and said recent data were consistent with inflation returning to its 2–3 percent target over time with output and employment still growing. Markets had wagered heavily on a steady outcome this month, though there is still some chance of a hike in November depending on how inflation progresses over the third quarter. Reporting by Wayne Cole; Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Wayne Cole, Shri Navaratnam Organizations: SYDNEY, Reserve Bank of Australia, Thomson

☆ Dollar hits new high on upbeat data, yen teeters near intervention line
▼ + stars: | 2023-10-03 | by ( Brigid Riley | ) www.reuters.com time to read: +3 min

The euro also traded near a one-year low against the greenback, dropping below January's 1.0482 nadir, as manufacturing surveys released in both Europe and the U.S. on Monday highlighted the divergence between the two economies. The dollar index rose around 0.5% to 107.06, at one point hitting as high as 107.12, its highest since November 2022. Japan's key economic ministers warned again on Monday that authorities were watching with a "strong sense of urgency" as the yen slid. The yen was last at 149.80 against the dollar, just off the overnight low of 149.88. (This story has been corrected to fix euro milestone to near one-year low, not over one-year low, in paragraph 2)Reporting by Brigid Riley Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Carol Kong, Kong, Sterling, Brigid Riley, Shri Navaratnam Organizations: REUTERS, Rights, Federal Reserve, Treasury, Commonwealth Bank of Australia, PMI, Reserve Bank of Australia, Thomson Locations: Europe

☆ Asian stocks slip on rate worries, yen in focus
▼ + stars: | 2023-10-03 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

U.S. Federal Reserve officials said that monetary policy will need to stay restrictive for "some time" to bring inflation back down to the Fed's 2% target. Still, the hawkish rhetoric from the Fed officials comes as an ongoing debate over another possible rate hike this year rages on. "If it were down to us, we would wait for another month of rising inflation and the third-quarter inflation numbers. The yen was last at 149.83 per U.S. dollar in Asian hours, having scaled a fresh near 12-month low of 149.895 earlier in the session. The dollar index , which measures the U.S currency against six major rivals, rose 0.093% to scale a fresh 10-month peak.

Persons: Hong, Michelle Bowman, Rob Carnell, Shunichi Suzuki, Brent, Ankur Banerjee, Jamie Freed Organizations: Federal Reserve, Japan's Nikkei, . Federal, Fed, Reserve Bank of, Reuters, ING, Japanese Finance, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, Reserve Bank of Australia

☆ Dollar weakens against the yen after yen breaches key 150 level
▼ + stars: | 2023-10-03 | by ( ) www.cnbc.com time to read: +3 min

The Japanese yen has fallen about 25% year-to-date against the greenback. The sharp move lower suggested the Bank of Japan had intervened in the market to keep the yen from falling further. "The continued uptrend in UST-JGB encouraged the 150 to be breach in the wake of the better-than-expected JOLTS data. The dollar slipped 0.51% against the yen to 149.08 after hitting 150.165 on the JOLTS report. The dollar index, which tracks the unit against six peers, was up 0.13% at 107.16, at its highest since November.

Persons: Michael Brown, Marc Chandler, Jeremy Stretch, JGB, Stretch, Shunichi Suzuki, Wei Liang Chang, Russia's rouble Organizations: greenback, The, Bank of Japan, New York Federal Reserve, Trader, Bannockburn Global, U.S, CIBC Capital Markets, UST, Finance, DBS, Strong U.S, Federal Reserve, Reserve Bank of Australia's, Swiss Locations: London, Bannockburn, New York, United States, Europe

☆ Asia-Pacific stocks fall ahead of Australian central bank rate decision
▼ + stars: | 2023-10-03 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

The full moon, otherwise known as a strawberry supermoon, is seen over the Skyline of the CBD in Sydney, Australia June 15, 2022. Asia-Pacific markets fell ahead of a rate decision by the Reserve Bank of Australia. In Australia, the S&P/ASX 200 was trading down 1.1% ahead of an RBA meeting, where the central bank is expected to hold rates at 4.10%, according to a Reuters poll. In Japan, the Nikkei 225 was down 0.63% in its first hour of trade. The Nasdaq Composite added 0.67% to close at 13,307.77— CNBC's Hakyung Kim and Alex Harring contributed to this report.

Persons: Hakyung Kim, Alex Harring Organizations: Skyline, Reserve Bank of Australia, Nikkei, Dow Jones, Nasdaq Locations: Sydney, Australia, Asia, Pacific, Japan, U.S

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