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Daily Currencies Ratings

The Trump Team’s Evolving Currency-Market Rhetoric: A Timeline

U.S. Said to Eye Plan for China Currency Manipulation Donald Trump continues to be perhaps the biggest single influence over the dollar, more than three months after his shock election victory. While policy pledges drove the greenback’s 3.9 percent gain in November, its best rally in more than two years, pronouncements on the currency, and its peers, from him and his administration have whiplashed traders over the past six weeks. Treasury Secretary Steven Mnuchin has also helped muddy the waters at times, either on his own or in combination with ...

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Dollar falls vs yen on U.S. policy doubts

The U.S. dollar fell to a more than two-week low against the Japanese yen on Friday as investors doubted the likelihood of swift tax reform and a quick spending boost from U.S. President Donald Trump’s administration. On Thursday, U.S. Treasury Secretary Steven Mnuchin suggested that much work was still needed on key elements of a tax reform plan, one of the policies investors had anticipated would spur inflation and drive up U.S. interest rates. Analysts noted that Federal Reserve meeting minutes released on Wednesday reinforced doubts about a rate hike ...

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Dollar slips as ‘Trumpflation trade’ fades

The dollar slipped on Friday and was set for its first week of falls in three, after the new U.S. finance chief poured a little cold water on the “Trumpflation trade” that had taken the greenback to 14-year highs earlier this year. Treasury Secretary Steven Mnuchin said on Thursday that any steps that U.S. President Donald Trump’s administration takes on policy would probably have only a limited impact this year, though he wants to see tax reform passed before by August. The comments — made in his first televised interviews ...

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Dollar dips on Mnuchin tax comments, Fed expectations

The U.S. dollar fell against a basket of major currencies on Thursday on a perceived lack of progress on U.S. tax reform, while Wednesday’s more dovish-than-expected Federal Reserve meeting minutes continued to weigh on the greenback. The dollar fell as much as 0.6 percent against the yen to a two-week low of 112.55 yen JPY=, while the euro rose as much as 0.4 percent against the dollar to $1.0595 EUR=. Concerns over politics on both sides of the Atlantic helped the safe-haven yen, with anti-EU French presidential candidate Marine Le ...

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Currencies on Five Continents Flag Risks to Growth Narrative

If you’re in the business of poking holes in the reflation trade, this may be an opportunity. While they’ve driven gains in 2017, currencies of commodity-led nations such as Australia, South Africa and Brazil are struggling to regain the momentum they enjoyed before Donald Trump’s election sparked a year-end reversal. This could foreshadow an element of doubt in the global recovery as they are often seen as barometers for world growth given their countries’ reliance on international trade. That’s especially so given signs the rally in commodity prices is close ...

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Euro Hedging Costs Surge as Traders Respond to Political Risk

Investors in the euro are getting increasingly concerned about the risks surrounding the French presidential elections, pricing in the options market shows. The premium needed to protect against swings in the single currency has now risen to the highest this year, while put options are the most expensive in relation to calls in almost two years. Specifically, investors seem most preoccupied with risks surrounding the second round of elections scheduled for May 7, with various gauges showing reduced anxiety before and after the event. The increase in options pricing reflects ...

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Dollar edges lower on Fed minutes, French politics

The dollar fell against the euro and yen on Wednesday after Federal Reserve meeting minutes disappointed expectations for a hawkish tone and anti-EU French presidential candidate Marine Le Pen’s perceived chances of winning fell. The minutes of the Fed’s Jan. 31-Feb. 1 discussion, at which the U.S. central bank voted to keep rates unchanged, showed many Fed policymakers said it may be appropriate to raise interest rates again “fairly soon” should jobs and inflation data come in line with expectations. The minutes also showed, however, that among voting members there ...

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Political noise, Fed pushes euro below $1.05

The euro fell briefly below $1.05 for the first time in six weeks on Wednesday, hit by a combination of concern over France’s presidential election campaign and growing expectations for a rise in U.S. interest rates. So far, concern that anti-EU candidate Marine Le Pen could win in May and deliver a fatal blow to the euro project have played out chiefly on the options market, where investors pay less to bet on the currency falling. Three-month risk reversals – the weight of bets against the euro over bets on ...

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Sterling hits two-month high to euro after Le Pen poll gain

Sterling rose almost 1 percent against the euro on Tuesday, to its highest in two months, after another opinion poll showing far-right French presidential candidate Marine Le Pen gaining ground hit the single currency. The pound rose as high as 84.45 pence per euro, up 0.9 percent on the day, after the Elabe poll showed the lead of centrist Emmanuel Macron and conservative rival Francois Fillon over Le Pen falling to 18 and 12 points respectively. The poll suggests anti-EU nationalist Le Pen may have more chance of springing a ...

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Dollar rises after Fed comments; euro weakens

The dollar gained against its rival currencies Tuesday, as comments from a Federal Reserve official drove up U.S. Treasury yields in Asia, along with demand for the U.S. currency. The greenback USDJPY, +0.52%  advanced to ¥113.60 compared with ¥113.12 late Monday in New York. The euro EURUSD, -0.7443%  weakened to $1.0584, compared with $1.0614 late Monday. The ICE U.S. Dollar Index DXY, +0.60%  , which gauges the buck against a basket of six rivals, rose 0.27% to 101.17. The WSJ Dollar Index BUXX, +0.48%  , a measure of the U.S. ...

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Pound gains ground as Lords launch Brexit debate

The pound rose against most major currencies on Monday, snapping a three-day fall versus the euro at the start of another week likely to be dominated by questions about how Britain will leave the EU and the impact of Brexit on the economy. The upper house of parliament, known as the House of Lords, has begun debating the bill which will pave the way for the formal start of talks on how Britain will leave the European Union. Opposition and independent members of the Lords are seeking amendments to force ...

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Dollar moves higher against yen, but US. holiday mutes action

The dollar rose against the yen, but was largely flat against other major crosses on Monday, with investors reluctant to take strong positions due to the U.S. national holiday for Presidents Day. The greenback USDJPY, +0.33%  was changing hands at ¥113.22, compared with ¥113 late Friday in New York. The ICE U.S. Dollar Index DXY, +0.11%  , which gauges the buck against a basket of six rivals, rose 0.2% to 100.95. The WSJ Dollar Index BUXX, +0.00%  , a measure of the U.S. dollar against 16 major currencies, was up ...

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Dollar Bulls Seek Fed Guidance While Riding Wave of Confusion

After a confusing week for dollar bulls, a closer look at some of the technical underpinnings of the greenback paints an even more mystifying outlook for the Trump reflation trade. Popular analysis such as the Elliott Wave theory, which seeks to predict moves by dividing past trends into five sections, suggests the rally is sustainable in the short-term. Further out, the same measures raise questions. According to the theory, created by Ralph Elliott in the 1930s, the daily charts show completion of wave 1 at 111.60 yen entering wave 2, ...

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China Chokes the Onshore Yuan in Its Bid to Stymie Outflows

Barricading the yuan from instability is not without its costs for China’s policy makers. After soaring to a two-year high in December, average daily volumes in the onshore yuan market have almost halved from that level so far this month, as tighter capital restrictions sap bank trading amid sliding demand from customers for dollars. It’s the latest sign Beijing’s efforts to prevent a flight to foreign currency may be working too well — torpedoing mainland trading in the yuan and undermining China’s campaign to bolster the currency’s usage internationally. Yuan ...

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Yen gains as political worries stoke safe-haven bids

The yen rose against major currencies on Friday as concerns about the upcoming French elections and the lack of movement in fiscal changes in the United States kindled safe-haven demand for the Japanese currency. The dollar improved versus most peers with the exception of the yen, chalking up a second week of gains following a mildly hawkish view from Federal Reserve Chair Janet Yellen and surprising strong U.S. data on retail sales and consumer prices. “We are trading in this political policy vacuum,” Mazen Issa, senior FX strategist at TD ...

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