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Daily Currencies Ratings

China Considers Changing Yuan Fixing Formula to Curb Swings

China is considering changes to the way it calculates the yuan’s daily reference rate against the dollar, a move that’s likely to reduce exchange-rate volatility while undermining efforts to increase the role of market forces in Asia’s largest economy. Policy makers may add a “counter-cyclical factor” to the yuan’s daily fixing, according to a government statement on Friday, which confirmed an earlier report by Bloomberg News. Analysts said the change would give authorities more control over the fixing and restrain the influence of market pricing. While a more tightly-managed currency ...

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Oil-linked currencies recover, polls shake pound

Sterling fell to a two-week low on Friday after a poll showed a narrowing lead for British Prime Minister Theresa May over her opposition ahead of elections next month, while commodity-linked currencies inched higher after a recovery in oil prices. The yen rose to a 3-day high versus the dollar, while the euro also edged higher. In a sign that Britain’s June 8 election could be far more closely contested than previously thought, a YouGov poll published on Thursday showed that the opposition Labour Party had cut the lead of ...

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Dollar steady as commodity currencies slip on oil price drop

The dollar steadied against a basket of major currencies on Thursday, a day after Federal Reserve minutes that dialed down some expectations of the central bank hiking interest rates soon. The dollar index .DXY, which tracks the greenback against six major rivals, was down 0.04 percent to 97.197, after falling as low as 96.88 earlier. “We are seeing a little bit of softness in the dollar on a trade-weighted basis after yesterday’s Fed minutes,” said Karl Schamotta, director of global product and market strategy at Cambridge Global Payments in Toronto. ...

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Fed minutes weigh on dollar, euro resumes climb

The dollar was on the defensive on Thursday, with investors low on incentives to buy the greenback after the Federal Reserve dialed down some expectations that it would hike interest rates soon, while the euro began to climb back towards a 6-1/2-month high. Fed policymakers agreed they should hold off on raising interest rates until they see evidence that a recent economic slowdown was transitory, the minutes from their last policy meeting showed on Wednesday. The minutes were seen to indicate heightened Fed caution toward interest rate hikes and took ...

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U.S. dollar slips after Fed minutes

The U.S. dollar slipped on Wednesday, after minutes of the latest Federal Reserve meeting showed policymakers agreed they should hold off on raising interest rates until they see evidence that a recent economic slowdown was transitory. The dollar index, which tracks the greenback against six major rivals, was down 0.17 percent to 97.184, after falling as low as 97.093. The minutes were the latest indication of the Fed’s heightened caution over policy tightening since the central bank began lifting rates from near zero in December 2015. Nearly all policymakers at ...

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Dollar holds above 6-1/2 month lows, Fed minutes in focus

The dollar on Wednesday held above 6-1/2-month lows hit in previous days, as comments from a senior Federal Reserve official rekindled expectations of possible U.S. interest rate rises. The dollar had lost nearly all of its gains since the U.S. elections last November as investor hopes for a fiscal boost from President Donald Trump were dulled by a scandal over his firing of former FBI director James Comey. That, along with a recent sub-par U.S. data has weighed on the dollar in past weeks. Citi’s Economic Surprise Index <.CESIUSD> for ...

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Dollar off 6-1/2-month lows; Fed minutes in focus

The dollar rose on Tuesday from recent lows as traders bet on a U.S. interest rate hike in June and awaited Wednesday’s release of the minutes of the U.S. Federal Reserve’s meeting in early May. The dollar index .DXY, which tracks the greenback against six major rivals, was up 0.43 percent at 97.405 and on pace for its best day in two weeks. The index fell to a more than six-month low on Monday. Some traders had recently bet on the dollar’s decline, and the currency’s sell-off prompted them to ...

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Pound sags vs yen after Manchester blast, euro at six-month highs

The pound slipped against the yen after a suspected terrorist attack at a concert in Britain’s city of Manchester, while the euro hovered near a six-month high against the dollar on Tuesday after German Chancellor Angela Merkel said the currency was “too weak.” Sterling was down 0.2 percent at 144.36 yen <GBPJPY=> after weakening to as much as 144.06. It was little changed against the dollar at $1.2992 <GBP=D4> and a touch lower at 86.60 pence per euro <EURGBP=D3>. Police said an explosion at the end of a concert by ...

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Dollar weak as political risks linger; euro up on Merkel comments

The dollar fell to a more than six-month low against a basket of currencies on Monday, extending its losses from last week, as an uncertain U.S. political climate and a buoyant euro weighed on the greenback. The dollar index .DXY, which tracks the greenback against a basket of six major rivals, was down 0.14 percent to 97.005. It fell to a low of 96.797, its lowest since Nov. 9, earlier in the session. “I think it is a continuation of the move we have seen since mid-April,” said Omer Esiner, ...

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Euro bounces after Merkel calls it “too weak”

The euro hit a more than six-month high against the dollar on Monday after Germany’s Angela Merkel prefaced a summit of G7 leaders later this week by saying a “too weak” currency was behind her country’s massive trade surplus. Speaking to students at a secondary school in Berlin, Merkel said that Germany’s huge export earnings were propelled by two factors over which the government had no influence, namely the euro’s exchange rate and the oil price. Germany has repeatedly pushed back against U.S. criticism of its trade surplus, saying nobody ...

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Pound Falls as Brexit Tensions Rise, Conservative Lead Narrows

The pound fell below $1.30 after the U.K. hardened its Brexit rhetoric and polls predicted a narrower-than-expected win for Prime Minister Theresa May in June elections. Sterling weakened against all its major peers as the latest Opinium Research survey showed the opposition Labour Party cutting May’s Conservative Party lead to 13 points from 15 points a week earlier. A YouGov survey in the Sunday Times put Jeremy Corbyn’s party nine points behind, the first time it has had a single-digit gap since September. The British currency also declined after Brexit ...

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Dollar steadies after week of political noise

The dollar steadied close to six-month lows against a basket of currencies on Monday, as investors took stock of a week of political turmoil in the United States and a resurgent euro zone economy. The greenback has been pressured by uproar over U.S. President Donald Trump’s firing of FBI Director James Comey, while improving economic prospects for Europe have also seen investors buy into the euro, further weighing on the dollar. Trump’s departure on a trip to the Middle East seemed to have cooled the temperature briefly on political drama ...

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Sterling back above $1.30, close to eight-month high

Sterling climbed back towards an eight-month high above $1.30 on Friday against a dollar that was weaker across the board, though some investors were calling a top on the British currency, seeing it as vulnerable to Brexit negotiations. The pound surged to an eight-month high of $1.3048 after strong retail sales figures on Thursday. It then lost momentum later in the day after what some traders called a mini “flash crash”, when the currency lost over a cent of its value in less than a minute. By 1600 GMT on ...

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Pound retakes $1.30 level after flash crash; dollar meanders lower

The British pound and the euro moved higher on Friday, as the dollar eroded some gains amid ongoing uncertainty surrounding U.S. politics. The pound GBPUSD, +0.5254%  jumped to $1.3003, reclaiming the $1.30 level it lost late Thursday during a mini “flash crash.” Sterling fell to as low as $1.2888 in the crash after pushing through the key $1.30 handle for the first in eight months earlier in the day, thanks to a strong U.K. retail sales report “Given the timing of the plunge, it would seem the liquidity of the ...

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Robust U.S. data helps reverse dollar slide

The U.S. dollar reversed early losses against a basket of major currencies on Thursday after stronger-than-expected U.S. economic data put the focus back on a widely anticipated increase in interest rates by the Federal Reserve. The Swiss franc and Japanese yen, both of which are favored as safe-haven investments during times of uncertainty, surrendered gains against the greenback after the number of Americans receiving jobless benefits fell to a 28-year low and the Philadelphia Federal Reserve’s Business Index came in at double economists’ expectations. “The U.S. economy is offering a ...

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