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Daily Currencies Ratings

Dollar falls as traders await possible move on Fed bond purchases

The dollar weakened against a basket of currencies on Tuesday in advance of a Federal Reserve meeting where policymakers are expected to decide on shrinking the central bank’s $4.2 trillion in bond holdings. The Fed’s possible move to roll back stimulus further has not stemmed the greenback’s weakness this year as other major central banks are considering steps either to slow their own bond purchases or raise interest rates. Analysts widely anticipate Fed policymakers to announce a lowering of monthly bond purchases, starting in October, when their two-day meeting ends ...

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Asian currencies listless, brace for Fed meeting

Most emerging Asian currencies traded narrowly on Tuesday as uncertainties surrounding the outcome of a U.S. Federal Reserve meeting kept traders from making big bets. At a two-day meeting beginning later on Tuesday, the U.S. central bank is expected to take another step toward policy normalisation with plans to trim its massive portfolio. It is seen holding interest rates steady after raising twice this year. Investors are now prepping up for potentially more hawkish statements from the Federal Reserve, after the Bank of England’s unexpected talk last week of a possible rate hike ...

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Sterling slides as BoE’s Carney signals limited, gradual rate hikes

Sterling slid nearly 1 percent on Monday, retreating from its highest level since the Brexit vote, after Bank of England Governor Mark Carney said any coming interest rate rises would be limited and gradual. Speaking at the International Monetary Fund in Washington, Carney reiterated the central bank’s message last week that record low interest rates could rise in coming months, but added that “any prospective increases in Bank Rate would be expected to be at a gradual pace and to a limited extent”. His comments pulled the pound, already lower ...

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Dollar hits eight-week high vs. yen as traders wait for Fed signal

The dollar hit an eight-week high against the yen on Monday, supported by a rise in U.S. Treasury yields, as traders eyed a Federal Reserve meeting starting the next day for clues on whether interest rates could rise again by year-end. The greenback recorded its best week against the Japanese currency since November last week, gaining 2.8 percent, as a rise in U.S. yields bolstered its appeal and as data showing a pick up in U.S. consumer prices helped rekindle expectations that the Fed could hike rates again in December. ...

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Sterling Vulnerable as May Poised to Outline Brexit Strategy

The pound’s rally, spurred by the Bank of England’s hawkish rhetoric, may be vulnerable to heightened sensitivity to economic data and Brexit uncertainty this week. Sterling rounded off its biggest weekly gain in five months against the dollar Friday, reaching its highest level since just after Britain’s European Union referendum as U.K. policy makers spurred speculation of an interest-rate increase within months. While a speech by BOE Governor Mark Carney and retail-sales figures may influence pound moves earlier in the week, Prime Minister Theresa May threatens to steal the show ...

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Sterling Rally Takes Shine Off Dollar’s Best Week Since February

A dollar gauge slipped on Friday yet was set for its best weekly run in seven months, while the pound surged to levels unseen since the Brexit vote on hawkish policy maker comments. The Bloomberg Dollar Spot Index stood 0.6 percent higher on a weekly basis as a stronger-than-estimated inflation reading on Thursday now has a Federal Reserve hike by year-end as a coin toss. Upbeat U.S. data of late before a Fed meeting next week has prompted investors to take some medium-term short-dollar positions off the table. Real money ...

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Dollar falls after weak U.S. retail sales; focus on FOMC

The dollar weakened against most major currencies on Friday, weighed down by an unexpected decline in U.S. retail sales last month that once again dimmed expectations for an interest rate increase in December. U.S. retail sales unexpectedly fell in August as Hurricane Harvey likely depressed motor vehicle purchases, dropping 0.2 percent last month. Economists polled by Reuters had forecast retail sales nudging up 0.1 percent. Looking ahead, the market is now focused on next week’s Federal Open Market Committee meeting, in which the Fed is expected to start reducing its ...

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Pound Sentiment Is Now the Most Bullish in More Than Three Years

Currency traders haven’t been this upbeat on the pound in more than three years. The cost of owning one-month call options on sterling relative to puts reached six basis points, the steepest since February 2014, as the Bank of England said the market is underpricing the prospect of rate increases. The premium on calls shows the market’s conviction that the currency’s more than 3 percent rally against the dollar this month has legs. The key question on investors’ minds at the moment is: where does the pound go from here? ...

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Sterling hits 14-month high, heads for best week in 8 years

Britain’s pound hit a 14-month high against the dollar on Friday and was heading for its best week in more than eight years on a trade-weighted basis, with traders ratcheting up bets on a near-term interest rate hike from the Bank of England. Sterling recorded its best day against the dollar since April on Thursday, after the BoE warned it might raise interest rates for the first time in more than a decade in the “coming months”. It built on those gains on Friday, rising almost half a percent in ...

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Dollar weak as upbeat CPI data fails to impress

The dollar lost ground against a basket of major currencies on Thursday even though data that showed a faster-than-forecast increase in domestic consumer prices boosted generally depressed expectations for another U.S. rate hike later this year. U.S. consumer prices accelerated in August amid a jump in the cost of gasoline and rental accommodation, signs of firming inflation that could allow further monetary policy tightening by the Federal Reserve. The dollar index, which tracks the greenback against six major currencies, was down 0.42 percent at 92.136. “The inflation number, while probably ...

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Most Asian currencies slip on a steady dollar; US inflation data eyed

Most emerging Asian currencies slipped on Thursday as the dollar held steady near a four-week high against the yen ahead of the U.S. consumer inflation data later in the day. Nath Wongsaroj, corporate treasury trader at Mizuho Bank, said Asian markets were quiet and Asian FX fell on a bullish dollar, boosted by U.S. Treasury bond yields that rose to 2.18 percent. The dollar, which slid to a 10-month low last week, stood tall, lifted as U.S. Treasury yields climbed to a 2-1/2-week highs. A near-term focus is the U.S. ...

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Sterling slips as central bank seen wrestling with data, Brexit

Sterling fell on Wednesday after posting its biggest daily gain in more than two months the previous day as investors took profits before a central bank meeting on Thursday that will have to grapple with divergent data in recent days. Inflation surged above the central bank’s 2 percent target in August, rising to its highest in more than five years, a report on Tuesday showed. But wage growth in the three months to July undershot market expectations, another report showed on Wednesday. A bigger driver for sterling over the medium ...

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China’s Campaign to Control Yuan Shifts to Limiting Strength

For a managed currency, the direction of China’s yuan is proving hard to predict. Despite a constant drumbeat from policy makers that it would be kept “stable” in 2017, the year of the all-important Communist Party Congress, the currency has made a stunning about turn. After two years of beating back the bears, Beijing is now being confronted with the opposite problem as the dollar’s slide fuels appreciation pressure. While they initially embraced the yuan’s reversal of fortunes, officials gave the first clear signal the surge had gone far enough ...

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Dollar treads water; sterling soars to one-year high

The dollar steadied on Wednesday, with investors expecting another quiet day for the currency ahead of key inflation data due on Thursday that will be closely watched by the U.S. Federal Reserve as it considers when to raise interest rates. With most currencies trading in narrow ranges, Britain’s pound was in focus, hitting a one-year high above $1.33 and a six-week high on a trade-weighted basis . Sterling was building on a move higher the previous day on the back of strong UK inflation data, which drove expectations that the ...

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Dollar steady as risk appetite returns

The U.S. dollar on Tuesday clung to the previous day’s gains, supported by a bounce in Treasury yields and ahead of U.S. inflation data that could influence the timing of the next Federal Reserve interest rate increase. The greenback also found support as investors further unwound bearish bets against it. The dollar index, which tracks the currency against a basket of six major rivals, was little changed at 91.892, after rising as high as 92.08. The index rose 0.60 percent on Monday, its largest gain this month, as receding worries ...

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