A Bloomberg gauge of the dollar dropped amid a fragile ceasefire between Iran and Israel. The US currency trimmed losses after Federal Reserve Chair Jerome Powell said that the central bank is in no rush to lower borrowing costs.
The Bloomberg Dollar Spot Index falls 0.4% and trades off day's low; still heads for its biggest daily decline since June 12 as options sentiment sours on US currency.
Powell in prepared remarks to Congress ahead of testimony later Tuesday: "For the time being, we are well positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance".
EUR/USD rises less than 0.1%, paring earlier advance but up for fourth session
Roughly 35bp jump in one-month risk reversals in favor of euro is sixth-most of last three years; now trade around 5bp over parity
Germany will borrow about a fifth more than planned in the coming months to fund a surge in spending, while a deal to secure a €46 billion ($53 billion) package of tax breaks highlighted how debt needs are set to grow.
Yen leads G-10 currency gains versus dollar alongside Antipodeans.
USD/JPY down 0.8% to 145.06; NZD/USD up 0.6% to 0.6014; AUD/USD gains 0.5% to 0.6493.
GBP/USD rallies by 0.5% to 1.3595, earlier at 10-day high; resistance set by June high at 1.3632.
One-week risk reversals trade at 12bps, puts over calls; the gauge traded earlier at 76bps and the move is the strongest in favor of sterling since October 2022.
USD/CAD down 0.2% to 1.3713; loonie holds gains after Canada YoY headline CPI in May comes in as expected at 1.7%.
Source: Bloomberg
The US dollar is moving steadily upward, still on track for a slight increase for the week. The market is awaiting the release of the delayed US inflation figures, and most market participants believe...
Dollar picks up slightly with CPI release in focus The U.S. dollar drifted higher Thursday as traders weighed up fresh trade threats between Washington and Beijing, ahead of the release of key inflat...
US Dollar (USD) consolidates within a narrow range as markets await September CPI and October PMI, while the ongoing US government shutdown adds pressure on growth and the Fed hints at year-end rate c...
The U.S. dollar rose slightly higher Tuesday, stabilizing after recent banking-induced losses as the prospect of upcoming trade talks between the U.S. and China helped ease some concerns over a renewe...
The U.S. dollar edged higher Monday, rebounding after last week's losses although sentiment remains wary ahead of key inflation data and amid worries over the health of the U.S. regional banking secto...
The Hang Seng rose 192 points, or 0.7%, to finish at 26,160 on Friday, extending gains from the prior session. The increase came after Shanghai shares hit a 10-year peak, on strong inflows and China's pledge at the conclusion of a plenum to boost...
Oil steadies but supply fear keeps it on track for weekly gain Oil prices were little changed on Friday, stabilising after the previous day's surge and remaining on track for a weekly gain as fresh U.S. sanctions on Russia's two biggest oil...
Silver slipped to around $48.6 per ounce on Friday and was on track to lose over 6% for the week, as profit-taking swept through the market amid concerns that the metal may have entered overvalued territory. The recent surge was driven by strong...
According to a poll by Reuters, 115 of 117 economists have predicted that the Federal Reserve (Fed) will reduce interest rates by 25 basis points...
The Fed will meet on October 28-29, 2025. This meeting is crucial because the market still considers the possibility of an interest rate cut, but...
The U.S. government shut down much of its operations on October 1 after Republicans and Democrats failed to reach an agreement to extend funding...
U.S. Trade Representative Jamieson Greer said he and Treasury Secretary Scott Bessent will head to Malaysia on Wednesday to meet with Chinese...