Thursday, 27 June 2019
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Fed-driven dollar rally fades, focus shifts to ECB meeting
Thursday, 14 June 2018 08:29 WIB | CURRENCIES |DOLLARDolar AS

The dollar slipped back from three-week highs against the yen on Thursday, quickly erasing gains made after the Federal Reserve took a slightly more hawkish policy tone in signalling two more rate hikes by year-end thanks to a solid outlook for the world's biggest economy.

The greenback's bounce faded as traders booked profits before the European Central Bank's meeting later Thursday, where policy makers are seen discussing the timing of winding down the ECB's 2.55-trillion-euro (£2.24 trillion) bond-purchase programme.

The dollar last traded at 110.20 yen, down slightly on the day, having lost steam after hitting a three-week peak of 110.85 shortly after the release of the Fed™s latest policy statement.

The euro was almost flat at $1.1797, bouncing back from $1.1725 hit after the Fed™s decision and edging near last week™s high of $1.1840.

As widely expected, the Fed lifted key overnight borrowing costs by a quarter percentage point for a second time this year, to between 1.75 and 2.00 percent.

The initial market reaction to the slightly more hawkish Fed tone quickly faded off, with the focus shifting to the ECB™s policy review later in the global day.

Although the ECB is widely expected to stand pat this month, some traders speculate it may offer clues on its intentions to begin tapering its bond purchases this year. Others reckon the policy makers may refrain from signalling changes to ECB™s stimulus programme given Italy™s political plight and a recent spate of disappointing data in the euro zone.

Source: Reuters

RELATED NEWS
Dollar holds gains vs. yen, jitters prevail ahead of G20...
Thursday, 27 June 2019 09:13 WIB

The dollar hovered near a one-week high against the yen on Thursday, propped up by hopes of Sino-U.S. trade talk progress though investors were nonetheless cautious ahead of a meeting between leaders ...

Dollar gains as traders pare bets on a bold U.S. rate cut...
Wednesday, 26 June 2019 23:17 WIB

The dollar rose on Wednesday as traders scaled back expectations of an aggressive interest rate decrease next month after comments from Federal Reserve officials that such a move may not be warranted ...

Dollar Pushes Higher as Markets Dial Back Fed Rate Cut Bets...
Wednesday, 26 June 2019 15:50 WIB

The U.S. dollar edged higher on Wednesday, pulling away from a three month low as markets dialed back expectations for aggressive interest rate cuts by the Federal Reserve next month, but expectations...

GBP/USD retraces from 5-week high amid fewer fresh catalysts from UK...
Wednesday, 26 June 2019 08:27 WIB

While renewed fears of no-deal Brexit and less dovish Fed speak dragged the GBP/USD pair back from a month™s high, the Cable trades little changed near 1.2690 during early Wednesday. The UK Prime M...

Bets on US rate cuts keep dollar on defense...
Tuesday, 25 June 2019 23:16 WIB

The dollar slipped against most major currencies on Tuesday, hitting a three-month low versus the euro, as expectations of multiple decreases of U.S. interest rates by the Federal Reserve have spurred...

LATEST NEWS
Hong Kong stocks start day with gains

Hong Kong opened higher on Thursday with investors zoning in on the upcoming talks between Donald Trump and Xi Jinping on the sidelines of the G20. The Hang Seng Index added 0.46 percent, or 130.96 points, to 28,352.94. The benchmark Shanghai...

Dollar holds gains vs. yen, jitters prevail ahead of G20

The dollar hovered near a one-week high against the yen on Thursday, propped up by hopes of Sino-U.S. trade talk progress though investors were nonetheless cautious ahead of a meeting between leaders of the two powers in Japan in days ahead. The...

Oil prices fall as market awaits G20, OPEC

Oil fell on Thursday, erasing some of the previous session's strong gains, as traders eye the G20 summit in Japan and a meeting of OPEC and other oil producers to decide on an extension of output cuts. Brent crude futures were down 44 cents, or...

POPULAR NEWS
You Can't Be Anything But Bullish On Gold After $1,400 Breaks – Analysts
Monday, 24 June 2019 15:44 WIB

Patience has finally paid off for the gold bull, as demand for the precious metal has pushed prices to levels not seen in nearly six...

Gold notches a third straight session gain, its second above $1,400
Tuesday, 25 June 2019 01:25 WIB

Gold futures climbed sharply on Monday, extending their streak of gains to a third consecutive session. Weakness in the U.S. dollar and 10-year...

Gold gives up nearly all of its gains, but settles at highest since late August 2013
Wednesday, 26 June 2019 01:14 WIB

Gold futures gave up almost all of their earlier gains by Tuesday afternoon, though still marked the highest most-active contract settlement since...

Gold Prices Up as U.S.-Iran Conflict Fuels Safe-Haven Demand, Trades Above $1,400
Monday, 24 June 2019 12:57 WIB

Gold prices rose on Monday in Asia and traded above the key $1,400 level amid intensifying conflicts between the U.S. and Iran. Gold futures for...