LONDON—The dollar shot higher on Monday, briefly scaling fresh 20-year highs against a basket of other currencies, as Federal Reserve Chair Jerome Powell signaled interest rates would be kept higher for longer to bring down uncomfortably high inflation. The dollar index, which measures the currency’s value against a basket of peers, scaled a fresh two-decade…
Dollar Zooms Higher as Markets Brace for Higher for Longer Rates
Dollar Dips Ahead of Powell Speech
LONDON—The dollar dipped against other major currencies on Friday, ahead of U.S. Federal Reserve Chair Jerome Powell’s widely-anticipated speech at the Jackson Hole symposium. Traders are looking for clues on the U.S. central bank’s tightening plans to combat rampant inflation when Powell speaks at 1400 GMT. The dollar index—which tracks the greenback against six major…
Euro Bounces Back to Parity as Investor Sentiment Improves
LONDON—The euro briefly rebounded back above parity with the dollar on Thursday as the U.S. currency’s recent rally ran out of steam and investors waited to see whether Federal Reserve Chair Jerome Powell would sound a more hawkish tone at a symposium this week. A more bullish mood across markets also helped the euro, as…
Euro Slips Towards Two-Decade Low as High Gas Prices Adds to Growth Fears
LONDON—The euro was within a whisker of a two-decade low on Wednesday amid growing recession fears fuelled by a possible energy supply crunch, while the U.S. dollar recouped some data-inspired losses after Tuesday’s softer-than-forecast data. Disappointing U.S. services and manufacturing surveys released on Tuesday and a plunge in new home sales saw the dollar take…
Euro Slumps to Two-Decade Lows as Energy Crisis Bites
LONDON—The euro hit a fresh two-decade low on Tuesday, dealt a fresh blow by renewed concern that an energy shock will keep inflation elevated and makes a recession in Europe all but certain. China’s yuan weakened to a two-year low, while sterling briefly touched its weakest since March 2020. Business activity data from Europe was…
Euro Back Below Parity Versus Dollar Again, Gas Crisis Weighs
LONDON—The euro briefly fell back below parity against a robust dollar on Monday and was languishing at five-week lows, weighed down by concern that a three-day halt to European gas supplies later this month will exacerbate an energy crisis. China’s yuan dropped to its lowest in nearly two years after the central bank cut key…
Euro, Sterling Slip to Month Low on Renewed Growth Fears
LONDON—The euro and sterling slipped to a one-month low versus the safe-haven U.S. dollar on Friday with investors worrying about further economic slowdown after Federal Reserve officials reiterated the need for higher rates. The dollar index rose 0.2 percent to 107.69, after earlier touching 107.74, its highest since July 18. The gauge is on track…
Dollar Holds Its Gains as Fed Set for Lengthy Inflation Fight
HONG KONG—The dollar touched a three-week high on Thursday after minutes from the Federal Reserve’s July meeting pointed to U.S. interest rates staying higher for longer to bring down inflation. The stronger greenback caused the pound briefly to dip below $1.2 in early European trading, its lowest in three weeks, the euro to drop to…
US Dollar Holds Gains Ahead of Fed Minutes
LONDON—The dollar held onto gains against other major currencies on Wednesday, ahead of the release of minutes of the U.S. Federal Reserve’s July meeting that could give further clues about the pace of further interest rate hikes. The greenback has recovered the ground it lost since softer-than-expected inflation data last week led to investor bets…
China Growth Woes Boost Dollar, Weigh Down Aussie
SINGAPORE/TOKYO/HONG KONG—The safe-haven U.S. dollar hit a one-week high on Tuesday after weak global economic data, particularly in China, reignited global recession fears and weighed on risk-friendly currencies like the Australian dollar. The dollar index, which measures the greenback against six major peers, hit a peak of 106.81 in early European trading, regaining all its…
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