LONDON—Sterling and the euro fell on Thursday as Prime Minister Liz Truss defended her government tax-cutting budget, while relief at the Bank of England’s intervention in bond markets faded. Investors also awaited German inflation data. The British currency jumped the most since mid-June on Wednesday after the BoE announced an emergency bond-buying plan to shore…
Sterling Volatile as PM Defends Plan, Euro Drops With Inflation Data in Focus
Sterling Slides After BOE Jumps Into Gilt Market, Dollar Marches On
LONDON—Sterling tumbled again on Wednesday after the Bank of England (BOE) said it would step in to prop up the gilt market, the latest sign of nerves in financial markets which helped nudge the dollar to its latest two-decade peak. The BOE said it would buy as many long-dated government bonds as needed between now…
Dollar Pauses for Breath as Fragile Pound Edges Up
LONDON/SYDNEY—The dollar took a pause on Tuesday in what has been a relentless climb higher as under-fire sterling as well as the euro and Japanese yen recovered some ground from multi-year lows, but medium-term fundamentals were still in the greenback’s favor. Sterling climbed over 1 percent to $1.0810, on track for its biggest daily percentage…
Sterling Crumbles to All-Time Low, Euro at 20-year Low
LONDON—Sterling crashed to a record low early on Monday as traders rushed for the exits on mounting concern that the new government’s economic plan will stretch Britain’s finances to the limit. The British pound’s searing drop helped lift the safe-haven U.S. dollar to a new two-decade peak against a basket of major currencies, while the…
Yen Buoyant After Intervention, Dollar Powers Ahead
SINGAPORE—The yen was heading on Friday to its first weekly gain in more than a month after Japanese authorities intervened in markets to support the yen for the first time since 1998, while a towering dollar kept other currencies pinned near multi-year lows. The yen was up about 0.1 percent at 142.22 per dollar in…
Yen Strengthens After Japan Intervenes for First Time Since 1998
LONDON—The Japanese yen strengthened on Thursday after authorities intervened in the foreign exchange market to shore up the battered currency for the first time since 1998, although trading was choppy. The dollar was last down 1.17 percent at 142.42 yen. It hit a low of 140.31 after the intervention, having earlier reached a fresh 24-year…
Dollar Sails at Two-Decade High as Putin Rattles Markets Before Fed
LONDON—The dollar jumped to a new two-decade high on Wednesday, as a decision by Russia’s President Vladimir Putin to mobilize more troops for the conflict in Ukraine rattled markets just before another expected aggressive U.S. Federal Reserve rate hike. Putin on Wednesday called up 300,000 reservists to fight in Ukraine and said Moscow would respond…
Dollar Firm as Markets Brace for Another Big Fed Rate Hike
TOKYO—The dollar remained firm near a two-decade high versus major peers on Tuesday as investors braced for another aggressive rate hike by the Federal Reserve as it battles to rein in overheated inflation. The dollar index, which measures the greenback against six counterparts, edged 0.09 percent higher to 109.64, stable for the moment after pulling…
Dollar Heads for Another Strong Week, Yuan Weakens Past Key Level
LONDON—The dollar rallied again on Friday, as U.S. Treasury yields rose ahead of a potentially huge Federal Reserve interest rate hike next week, while China’s yuan weakened past the psychologically important threshold of 7 per dollar. The dollar, measured against a basket of currencies, is headed for a near 1 percent rise this week, as…
Yen Jumps Versus Dollar After BOJ Rate Check, Hints on Intervention, US PPI Data
NEW YORK/LONDON—The yen was up more than 1 percent against the dollar on Wednesday after the Bank of Japan conducted a rate check in possible preparation for currency intervention, with the Japanese currency strengthening more in the wake of U.S. producer prices data. In a rate check, central bank officials call up dealers and ask…
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