LONDON—The euro rose on Tuesday, drawing support from the European Central Bank’s plans to raise interest rates to contain inflation, while the yen retested a 24-year low as the Bank of Japan’s ultra-loose monetary policy stance continued to weigh. The euro was 0.5 percent firmer at $1.0563 after ECB Chief Economist Philip Lane said the…
Euro Rises Despite French Election as Dollar Retreats
LONDON—The euro rose on Monday despite French President Emmanuel Macron losing an absolute majority in the country’s parliamentary election, as the dollar retreated against its major peers after hitting a 20-year peak last week. Macron’s centrist Ensemble coalition secured the most seats in the National Assembly but fell well short of an absolute majority needed…
Yen Tanks 1.9 Percent After BOJ Sticks to Stimulus, Franc Climbs Again
LONDON/TOKYO—The Japanese yen fell as much as 1.9 percent on Friday after the Bank of Japan bucked a wave of tightening and stuck with its ultra-low interest rate stance, as currency markets looked set for another volatile session after a spate of rate hikes this week. The Swiss National Bank’s surprise decision to raise rates…
Swiss Franc Set for Best Day Versus Euro in Seven Years After SNB Hike
LONDON—The Swiss franc soared on Thursday after the Swiss National Bank delivered a surprise interest rate hike, triggering its biggest daily jump against the euro since the central bank ditched its currency peg in 2015. The SNB joined other central banks in tightening monetary policy to fight surging inflation in its first rate hike in…
Euro Jumps as ECB Holds Unscheduled Meeting, Dollar Awaits Fed Move
LONDON—The euro jumped after the European Central Bank’s governing council said it would hold an unscheduled meeting on Wednesday to discuss the recent sell-off in government bond markets, hours ahead of a closely-watched meeting of the U.S Federal Reserve. The European common currency rose as to as high as $1.0508 following the announcement, which comes…
Dollar Off Lows, Nears 20-year Highs After Historic Bond Rout
LONDON—The U.S. dollar trimmed early losses and held near a 20-year peak on Tuesday while its rivals from the Aussie to the euro struggled as traders braced for aggressive interest rate hikes from the Federal Reserve this week. Expectations for a 75 basis-point increase at the conclusion of a two-day meeting on Wednesday are nearly…
Dollar Drives Higher, Yen Tumbles to 1998 Lows
LONDON—The safe haven dollar gained towards fresh two-decade highs versus major rival currencies on Monday, supported by fears over a global economic slowdown and bets on steep interest rate hikes by the U.S. Federal Reserve. The yen was among a host of currencies swept lower on the day, to its lowest level versus the dollar…
Japanese Yen Jumps After Authorities Sound Intervention Warning
LONDON—The Japanese yen jumped on Friday after the government and the central bank in a rare joint statement expressed concern about its recent slide to hit two-decade lows, while the dollar edged higher ahead of key U.S. inflation data. After a meeting with his Bank of Japan (BOJ) counterpart, the country’s top currency diplomat Masato…
Euro Holds Near 7–1/2-Year High Versus Yen Before ECB Decision Time
LONDON—The euro held near its highest point in 7–1/2 years versus Japan’s yen on Thursday before a potentially pivotal European Central Bank rate decision, with policymakers expected to announce an end to the bank’s multi-year monetary stimulus. The ECB is all but certain to flag an end to its long-running asset purchase program at the…
Yen Tumbles Against Euro as Central Bank Policy Diverges
LONDON—The euro hit a seven-year peak against the yen on Wednesday, getting a lift after an upward revision to first-quarter growth and ahead of a European Central Bank meeting on Thursday that is likely to pave the way for rate hikes later in the year. The ECB is set to end its bond purchases this…
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