TOKYO/LONDON—The euro jumped to a more than three-week peak versus the dollar on Monday, as European Central Bank officials argued for further aggressive monetary tightening and the greenback softened against most majors except the under-fire Japanese yen. The European common currency rose around 1.5 percent to $1.0198, its highest since Aug. 17, and well up…
Dollar Set for Weekly Fall as Euro Bounces on ECB Hike
September 9, 2022
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LONDON—The dollar was on track for its first weekly fall in four on Friday, as a hawkish rate hike from the European Central Bank lifted the euro and investors looked to U.S. inflation data early next week. The dollar lost ground across the board, with the dollar index—which tracks the greenback against six major peers—falling…
Dollar Climbs as Powell Speech, ECB Loom; Dovish Lowe Hits Aussie
TOKYO—The dollar hovered near a two-decade high hit in the previous session on Thursday as investors looked for fresh insight on the global monetary tightening path from a European Central Bank rate decision and comments from the head of the Federal Reserve. The Aussie dollar tumbled after Reserve Bank of Australia governor Philip Lowe suggested…
King Dollar Stomps on Yen as US Yields Rise
September 7, 2022
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TOKYO/LONDON—The dollar was lord of all it surveyed on Wednesday, at a fresh 24-year peak on the yen and retesting a 20-year high on the euro after U.S. economic data reinforced the view that the Federal Reserve would maintain aggressive policy tightening. Economic jitters elsewhere, pushing investors to safety, also supported the U.S. currency. The…
Euro, Sterling Bounce on Energy Policy Hopes, Climb All Over Tumbling Yen
September 6, 2022
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SINGAPORE/LONDON—The euro and sterling were on Tuesday trying to recover from multi-year lows against the dollar hit the day before, as policy makers tried to get a grip on the energy crisis, though the rate sensitive Japanese yen slipped to a new 24 year-low. The pound and euro both gained over 0.6 percent with the…
Euro Plunges to New 20-year Low After Russian Gas Halt
September 5, 2022
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LONDON—The euro sank below $0.99 to a new 20-year low on Monday after Russia’s halt to gas supplies down its main pipeline to Europe heightened fears about a deepening energy crisis across the region. The euro has been increasingly correlated with natural gas prices in recent months, with the former falling when prices of the…
Hedge Fund Founder Charged With FX Fraud and Manipulation
September 4, 2022
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Neil Phillips, the founder of hedge fund Glen Point Capital, has been charged with committing forex market manipulation and fraud, according to the U.S. Department of Justice. Phillips, 52, has been accused of carrying out a scheme to “artificially manipulate” the exchange rate of the currency pair USD/ZAR (South African rand) to trigger a $20…
Dollar Near Two-Decade High Ahead of US Jobs Data
LONDON—The dollar was headed for its third weekly gain in a row and was near two-decade highs against other major currencies, as investors focused on U.S. jobs data due later on Friday that could bolster the case for aggressive interest rate hikes. The U.S. currency has been riding high since Federal Reserve Chair Jerome Powell…
Sterling, Euro Slide as Dollar Marches Higher
September 1, 2022
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SINGAPORE/TOKYO—The dollar gained ground against the euro and sterling on Thursday after earlier hitting a 24-year peak against the Japanese yen, as investors positioned for higher U.S. interest rates and remained concerned about the health of European economies. The euro slid 0.37 percent to just hold above parity against the dollar at $1.10016, while the…
ECB Bets Boost Euro, Dollar Slips From 20 Year Peak
August 30, 2022
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HONG KONG—The euro climbed past parity against a softening dollar on Tuesday, thanks to lower energy prices and the possibility of a super-sized European Central Bank rate hike. The European common currency was 0.41 percent higher at $1.00390, extending the previous day’s rally, albeit from near 20-year lows. “It’s about the ECB being priced far…
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