Currencies

Currencies

Bond selloff boosts dollar, risk currencies knocked lower

The U.S. dollar rose against most major currencies on Friday, lifted by an increase in U.S. bond yields overnight, while risk currencies such as the pound, Aussie and Kiwi dollar took a knock lower.FILE PHOTO: U.S. one dollar banknotes are seen in this illustration taken February 8, 2021. REUTERS/Dado Ruvic/IllustrationGovernment bonds, and particularly U.S. Treasuries, have become the focal point of markets globally. Traders have moved aggressively to price in earlier monetary tightening than the Federal Reserve and other central banks have signalled.European stocks extended a global equity sell-off, with risk appetite souring as the surge in yields triggered inflation worries. Emerging-market and commodity-linked currencies continued to retreat Friday.The dollar move is “...
Currencies

Dollar edges lower as investors favor higher-risk currencies

The dollar lost ground on Friday as market participants favored currencies associated with risk-on sentiment over the safe-haven greenback.FILE PHOTO: A picture illustration shows U.S. 100 dollar bank notes taken in Tokyo August 2, 2011. REUTERS/Yuriko Nakao/File PhotoRisk appetite was stoked by better-than-expected economic data and expectations that U.S. President Joe Biden’s proposed $1.9 trillion coronavirus relief package will come to fruition.“The dollar’s down against other currencies but not by a whole lot,” said Oliver Pursche, president of Bronson Meadows Capital Management in Fairfield, Connecticut. “I expect the dollar to be where it is now at the end of the year, and the main reason for that is while I see some signs of improvement in the economy, monetary policy...
Dollar weakens as market optimism lifts riskier currencies
Currencies

Dollar weakens as market optimism lifts riskier currencies

The U.S. dollar held near two-week lows on Monday, as optimism about COVID-19 vaccine rollouts and a planned $1.9 trillion U.S. stimulus package offered a boost to riskier currencies, stock markets and commodity prices.FILE PHOTO: Representations of virtual currency Bitcoin are placed on U.S. Dollar banknotes in this illustration taken May 26, 2020. REUTERS/Dado Ruvic/IllustrationAmong the gainers versus the weaker dollar, the British pound broke $1.39 for the first time in nearly three years, helped by expectations that the success of the UK’s COVID-19 vaccination programme could enable the economy to open up and rebound.The offshore-traded Chinese yuan continued its recent rise and was on the cusp of breaking above 6.39 per dollar for the first time since June 2018.Comm...
U.S. dollar falls vs some currencies
Currencies

U.S. dollar falls vs some currencies

The dollar fell against some of the major currencies on Thursday, weighed down by slightly weaker-than-expected U.S. jobless claims data that followed tepid inflation numbers and a dovish message from the Federal Reserve the previous session.In the cryptocurrency sector, bitcoin hit another record of $48,481.45, as it continues its march toward the $50,000 mark. It was last up 6.3% at $47,685, rising after news that BNY Mellon became the latest firm to embrace cryptocurrencies.Thursday’s data showed initial claims for state unemployment benefits totalled a seasonally adjusted 793,000 for the week ended Feb. 6, compared to 812,000 a week before. Economists polled by Reuters had forecast 757,000 applications for the period.“The job market’s glacial pace of improvement justifies t...
U.S. dollar falls vs some currencies; bitcoin climbs to record peak
Currencies, Forex

U.S. dollar falls vs some currencies; bitcoin climbs to record peak

The dollar fell against some of the major currencies on Thursday, weighed down by slightly weaker-than-expected U.S. jobless claims data that followed tepid inflation numbers and a dovish message from the Federal Reserve the previous session.FILE PHOTO: U.S. one dollar banknotes are seen in front of displayed stock graph in this illustration taken February 8, 2021. REUTERS/Dado Ruvic/Illustration Currency moves, however, were confined to narrow ranges due to holidays in Japan and China. In the cryptocurrency sector, bitcoin hit another record of $48,481.45, as it continues its march toward the $50,000 mark. It was last up 6.3% at $47,685, rising after news that BNY Mellon became the latest firm to embrace cryptocurrencies. Thursday’s data showed initial claims for state unemployment be...
Indian rupee remained among better performing Asian currencies in 2020: Thakur – Deccan Herald
Currencies

Indian rupee remained among better performing Asian currencies in 2020: Thakur – Deccan Herald

Minister for State for Finance Anurag Singh Thakur on Tuesday said the Indian rupee was one of the better performing Asian currencies in 2020. "In the financial year 2020-21, the Indian rupee (INR) has appreciated by 3.53 per cent till February 2, 2021, as per the information provided by Reserve Bank of India," Thakur said in a written reply to Rajya Sabha. He also said India enforced one of the most stringent lockdowns during April-June, 2020, compared to other key Asian countries and the contraction in gross domestic product (GDP) is consistent with the effect of the stringent lockdown. "Owing to stringent lockdown measures, India was able to significantly contain the death rate from Covid-19. With gradual unlocking of the country, the economy made a significant V-shaped recovery," he s...
Visa adding digital currencies, Swiss Blockchain Law starts and Genesis anniversary
Currencies

Visa adding digital currencies, Swiss Blockchain Law starts and Genesis anniversary

This week, Visa wants to join the club of tech giants adding digital currencies in their networks.CEO Al Kely reaffirmed during the Q1 fiscal earnings call Visa’s commitment to adding digital currency in their payments network. This isn’t the first time the company has expressed its intention of working with blockchain and digital assets publicly. In 2016, the company filed a patent for blockchain-based transaction system related to “methods and systems for using digital signatures to create trusted digital asset transfers” and another in 2019 described as “digital fiat currency.”During the call, Kelly said digital currencies are predominantly held as assets—not used as a form of payment. He shared that Visa plans to work with wallets and exchanges to enable users to purchase these c...
EMEA currencies muted on dollar strength, while stocks dip
Currencies

EMEA currencies muted on dollar strength, while stocks dip

Czech crown flat ahead of c.bank meeting EMEA stocks rise, while MSCI EM stocks index falls Chinese stocks sink on liquidity concernsBy Ambar WarrickFeb 4 (Reuters) - South Africa's rand fell on Thursday, while most other emerging market currencies in Europe, the Middle East and Africa were little changed as recent signs of strength in the U.S. economy drove buying into the dollar.Increasing optimism over the U.S. economy and a bumper COVID-19 stimulus package attracted investors to the U.S. dollar, pressuring most currencies in emerging markets.Employment data due this week is also expected to set the tone for dollar flows in the coming weeks.South Africa's rand fell 0.4% to the dollar, while Turkey's lira and the Russian rouble gained slightly."This (dollar) r...
Currencies

Central banks take rare step of flagging currency sales in advance

Several central banks have ventured into unusual territory in the opening weeks of this year, announcing currency sales in advance as they tread a delicate line between dulling the impact of a sliding dollar and dodging the ire of the US Treasury.Since the start of January, central banks in Chile, Israel and Sweden have all outlined plans to sell their currencies in foreign exchange markets. Policymakers in Poland also issued a verbal warning to zloty bulls that they may intervene.The moves underline the pressure on small currencies that are pushing higher in response to a broad slide in the dollar, holding down inflation in their domestic economies and threatening exports at a time when global trade remains fragile. But the advance warnings also suggest policymakers are keen to avoid ...
Dollar falters as stocks rally, risk currencies gain
Currencies

Dollar falters as stocks rally, risk currencies gain

The dollar sank as global stock markets rallied on Monday, while riskier currencies such as the British pound, the Australian dollar and New Zealand dollar rose.FILE PHOTO: A U.S. Dollar banknote is seen in this illustration taken May 26, 2020. REUTERS/Dado Ruvic/Illustration/File PhotoThe Japanese yen halted three consecutive days of losses, gaining on the dollar after hitting its lowest in over two months last week.The U.S. currency declined against most of its peers as Asian and European stocks rallied following four days of losses.Earlier the greenback had found support as traders remained wary that retail investors who had organised online might continue their assault on hedge fund short positions, sparking more volatility.However, the crowd’s focus appeared to have ...