TOKYO/LONDON—Japan’s yen rallied on Monday as investors sought out safe assets after UBS’ cut-price takeover of its beleaguered rival Credit Suisse failed to quell market nerves. Under the deal, holders of $17 billion of Credit Suisse additional tier-1 (AT1) bonds will be wiped out. That angered some of the holders of the debt who thought…
Dollar Slips as Bank Lifelines Shore Up Risk Appetite
LONDON—The dollar slipped on Friday after top U.S. power brokers including the government and banks threw a lifeline to a struggling regional lender to ease stress on the financial system, which returned some confidence to investors. The rescue of First Republic Bank in the U.S. on Thursday boosted risk appetite globally on Friday as concerns…
Euro, Swiss Franc Recover a Touch as Market Mood Improves, Traders Await ECB Meet
SINGAPORE/LONDON—The euro and Swiss franc regained some lost ground on Thursday, as markets reacted positively to the Swiss central bank’s support for Credit Suisse, ahead of a difficult meeting for ECB rate setters. The euro was up 0.4 percent at $1.06225 having lost 1.4 percent a day earlier, its biggest percentage fall in six months,…
Credit Suisse Woes Knock Euro, Sterling, Swiss Franc
LONDON—European currencies fell sharply on Wednesday after Credit Suisse’s tumble to a new low renewed worries about the European banking sector following Silicon Valley Bank’s collapse. Credit Suisse shares fell around 20 percent after its biggest investors said it could not provide more backing. The Swiss lender woes led the wider European banking index to…
Dollar Rebounds After Tumbling on SVB Collapse, With CPI Data Incoming
LONDON/SINGAPORE—The dollar rose in somewhat calmer trading on Tuesday, after tumbling on Monday following the collapse of Silicon Valley Bank (SVB), as investors waited for the release of U.S. consumer inflation data later in the day. Tuesday’s consumer price index (CPI) figures have the potential to drive further volatility in global markets, coming a day…
Dollar Drops as Fed Rate Hike Expectations Trimmed on SVB Collapse
SINGAPORE/LONDON—The U.S. dollar fell on Monday on expectations the Federal Reserve will be less aggressive in raising interest rates after authorities stepped in to limit the fallout from the sudden collapse of Silicon Valley Bank. The U.S. government announced several measures early in the Asian trading day, saying all SVB customers will have access to…
Dollar Steady as Volatile Markets Brace for Payroll Data, Yen Slides
SINGAPORE/LONDON—The dollar index was steady on Friday, a rare spot of calm in volatile global markets ahead of key U.S. payrolls data later in the day, while the yen weakened after the Bank of Japan kept stimulus settings steady. The dollar jumped as much as 0.63 percent against the yen, a knee-jerk move after the…
Dollar Holds Near 3-month Highs on Rates Outlook
SINGAPORE/LONDON—The dollar held near a three-month high on Thursday, underpinned by Federal Reserve Chair Jerome Powell’s message that interest rates would have to go higher and possibly faster. The yuan weakened after the government reported unexpectedly low inflation. In the second day of his testimony to Congress on Wednesday, Powell reaffirmed his message, though he…
Dollar Scales 3-month Peak as Powell Flags Higher Rates
LONDON—The dollar scaled multi-month highs against most other major currencies on Wednesday, after Federal Reserve Chair Jerome Powell warned that U.S. interest rates might need to go up even faster and higher than expected to rein in stubborn inflation. Higher rates benefit the dollar by improving its yield and as traders look for safety while…
Dollar Steady Before Powell Testimony; Aussie Slips
SINGAPORE/LONDON—The U.S. dollar held steady on Tuesday ahead of testimony before Congress by Federal Reserve Chair Jerome Powell, while the Aussie slid after the Reserve Bank of Australia hinted it might nearly be done with monetary tightening. The Australian dollar was the day’s major G10 mover, sliding as much as 0.79 percent to $0.6679, its…
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