LONDON—The U.S. dollar declined to its lowest level in more than six weeks against the Japanese yen on Monday as investors ramped up bets that aggressive Federal Reserve monetary policy would tip the economy into a recession. With traditional market gauges of recession such as yield curve spreads pinned near their lowest levels this year,…
Yen Set for Biggest Weekly Gain in 4 Months on Peak US Rate Bets
LONDON—Japan’s yen surged on Friday and is on track for its biggest weekly rise in four months against the dollar on bets that U.S. interest rates are nearing a peak after data showed the world’s biggest economy unexpectedly contracted in the June quarter. Futures markets predict that U.S. interest rates will peak by December this…
Dollar Hits Three-Week Low to Yen as Fed’s Powell Less Hawkish Than Feared
TOKYO—The dollar dropped to a three-week low versus the yen on Thursday after Federal Reserve Chair Jerome Powell assuaged investors’ worries about continued aggressive monetary tightening. The U.S. currency sank as low as 135.105 yen, its weakest since July 6 after the Fed raised the benchmark rate by an as-expected 75 basis points to bring…
Dollar Creeps Lower as Large Fed Rate Hike Looms
July 27, 2022
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LONDON—The dollar edged further away from recent 20-year highs on Wednesday ahead of the U.S. Federal Reserve policy meeting, at which the central bank is expected to raise rates by another 75 basis points to tame soaring inflation. But moves in currency markets were modest as traders await the policy announcement at 1800 GMT. Money…
Gas Crunch Fears Hammer Euro, Lift Dollar and Swiss Franc
LONDON—The prospect of another Russian gas supply cut knocked the euro lower on Tuesday, while dollar gains were tempered by mounting uncertainty over the U.S. Federal Reserve’s policy-tightening path after this week’s expected interest rate rise. European Union countries were preparing to approve an emergency proposal to curb gas demand, the prospect of which sent…
Dollar Slips, Riskier Currencies Gain as Market Rebounds
LONDON—The dollar fell and major rivals gained on Monday as risk appetite returned to currency markets and investors weighed up the possible impact of an expected U.S. rate hike this week. Currency markets were choppy. The safe-haven dollar had initially gained in early European trading hours, following a cautious Asian session in which investors were…
Euro Tumbles as Gloomy PMIs Dampens Outlook for Future ECB Hikes
LONDON—The euro continued its retreat from a more-than-two-week high as disappointing activity data from France and Germany pushed the single currency lower, a day after the European Central Bank highlighted the path for interest rates would be data dependent. German business activity unexpectedly shrank in July while French manufacturing activity contracted and growth in services…
Euro Knocked by Italy Crisis Ahead of Landmark ECB Hike
July 21, 2022
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LONDON—The euro wilted on Thursday as the European Central Bank geared up for its first rate rise in over a decade and as political tumult in Italy offset relief following the restart of Russian gas flows through the region’s largest pipeline. Traders will have more than just the landmark rate move to juggle later, with…
Euro Slips From 2-week Highs as Mood Turns Sour
LONDON—The euro slipped from two-week highs on Wednesday, as investors braced for a crucial European Central Bank policy meeting on Thursday after policymakers floated the prospects of a 50 bps interest rate hike. The single currency has rallied more than 3 percent in the last four trading sessions on expectations the European Central Bank (ECB)…
Euro Rallies; Dollar Pauses With Central Banks in View
LONDON—The euro rallied on Tuesday, while the dollar hovered below last week’s peak. The jump in the euro, which sent it further away from the sub-parity levels of last week, coincided with falling expectations for an aggressive 100 basis point hike from the Federal Reserve this month, which knocked the dollar. The euro rose to…
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