NEW YORK—The dollar surged to a six-year high versus the yen after the Bank of Japan moved to contain rising bond yields, while U.S. Treasury yields soared to new multiyear highs, highlighting the divergence in tightening cycles between the BOJ and other major central banks. Treasury 10-year yields vaulted above 2.5 percent to three-year highs,…
Yen at 6-year Low Versus Dollar as BOJ Moves Against Rising Bond Yields
Euro Edges Higher as Focus on Ukraine; Yen Rebounds Versus Dollar
The euro edged higher on Friday, but concerns about a potential slowdown of the economy kept it in a tight range, while the dollar weakened as investors priced in expected monetary tightening by the Federal Reserve. “The combination of lingering Russia-related risks, high energy prices, and Fed-ECB policy divergence still points to a weaker, rather…
Global Economy Could Split Between US Dollar, Other Currencies: IMF Deputy Chief
March 23, 2022
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The Russia–Ukraine War could trigger a fragmentation in global payment systems, deputy head of the International Monetary Fund (IMF) Gita Gopinath said during a March 22 virtual discussion, indicating a possible global shift away from the U.S. dollar. “What we are seeing around the world is increasing fragmentation of payment systems that probably will further…
Dollar Climbs, Euro Weakens, as Biden Brings Sanctions Plan to Europe
March 23, 2022
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NEW YORK—The dollar climbed on Wednesday while the euro weakened as oil prices saw another jump with U.S. President Joe Biden poised to announce, alongside other European leaders, new sanctions against Russia during his trip to Europe. Biden is due to arrive in Brussels later on Wednesday on his first foreign trip since the war…
Possibility of 50 Basis Point Fed Hike Pushes Yen and Euro Down
March 22, 2022
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LONDON—The dollar rose on Tuesday as Federal Reserve Chair Jerome Powell put the possibility of 50 basis point rate hikes on the table, while the yen fell below the psychological 120 level as the Bank of Japan reiterated its support for ultra-loose monetary policy. The euro was also under pressure, sliding to an almost one-week…
Dollar Little Changed With Powell on Deck
March 21, 2022
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NEW YORK—The dollar was little changed versus a basket of major currencies on Monday, as investors looked toward comments from U.S. Federal Reserve Chair Jerome Powell and from a host of other Fed policymakers this week for insight on monetary policy. The greenback had been fluctuating between slight gains and losses, and weakened slightly after…
Russia’s Sberbank Says Sanctions Limiting Some Forex Transfers in Russia and Abroad
March 19, 2022
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Russia’s largest lender Sberbank on Friday said sanctions on its operations meant its customers would be unable to transfer funds in certain foreign currencies to accounts at other banks, both in Russia and abroad. Unprecedented Western sanctions have hit the heart of Russia’s financial system over events in Ukraine and Sberbank was among the companies…
Dollar Rebounds as Fed Officials Comment on Rates; Dollar at 6-years High Versus Yen
NEW YORK—The U.S. dollar index bounced back on Friday from recent declines following comments from Federal Reserve officials on interest rates that supported the currency, while the dollar was at a fresh six-year high against the yen and the euro eased. St. Louis Federal Reserve President James Bullard called for a dramatic increase in the…
Euro Edges Up, Focus on Ukraine Talks
The euro rose on Thursday with investors closely watching for developments in talks between Russia and Ukraine, while the Federal Reserve’s monetary policy decision failed to affect the market as the bar for a hawkish surprise was high. The Kremlin said that Russia was putting colossal energy into talks on a possible peace deal with…
Peace Talks Send Euro Higher, Overshadowing Expected Fed Rate Hike
LONDON—The euro jumped on Wednesday, set for its third consecutive day of gains, after Russian Foreign Minister Sergei Lavrov said peace talks with Ukraine were not easy but there was hope for compromise. In a busy day for markets, a stronger euro and Chinese yuan overshadowed the dollar index, which fell ahead of a Federal…
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