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Daily Currencies Ratings

Dollar climbs to cap strong week as bears grow wary

The dollar edged higher against a basket of major currencies on Friday, extending its recovery from a three-year low last week, as the potential for a more aggressive U.S. Federal Reserve prompted investors to pare bearish bets against the greenback. The dollar index, which measures the greenback against a basket of six other major currencies, was up 0.12 percent at 89.847. The index hit a three-year low of 88.253 on Feb. 16. “You have seen sentiment around the dollar shift,” said Charles Tomes, senior investment analyst and trader at Manulife ...

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Dollar higher on Fed minutes; euro unmoved by ECB

The dollar inched up to a 10-day high on Thursday after minutes from the U.S. Federal Reserve’s January meeting showed policymakers confident in rising inflation, while the euro was left unmoved by its own central bank’s policy minutes. European Central Bank policymakers meeting last month felt it was too early to change their communication stance to signal a normalisation of policy, even if confidence was growing that inflation would finally rise back to target, minutes showed on Thursday. Policymakers also felt they must keep a close eye on the euro’s ...

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The Euro Keeps Hitting a $1.25 Ceiling This Year

Euro bulls are struggling to push the currency above $1.25 this year, just as the $1.20 level proved a blocking point in 2017. The currency has bounced off that ceiling three times in the past month, in a striking similarity to its behavior in the September-October period. It took a combination of optimism over monetary policy and German politics to finally break clear of $1.20 in January. It will take the results of Italian elections and the European Central Bank’s meeting in March to see if it can do the ...

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Dollar rises as Fed minutes back more U.S. rate increases

The dollar rose to a more than one-week peak on Wednesday, extending its recovery from last week, helped by higher short-term Treasury yields, and as minutes of Federal Reserve’s January meeting showed policymakers confident in the need to keep raising interest rates. The dollar index, which measures the greenback against a basket of six other major currencies, was up 0.37 percent at 90.046, after hitting a high of 90.134 earlier in the session. A more upbeat take on inflation in the minutes of the Jan. 30-31 policy meeting bolstered expectations ...

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For Pound Volatility Traders, Brexit Threat Is Near and Dear

As Theresa May’s vision of the post-Brexit world starts to emerge, pound traders are worried more about the currency’s immediate prospects. While the U.K. prime minister wants to stay close to the European Union in some areas and break free in others ahead of a crucial EU summit next month, covering against wild swings in sterling for a month has become dearer than insuring against volatility for a whole year. The difference between the two widened to 145 basis points on Feb. 6 in favor of one-month implied volatility, representing ...

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Dollar extends recovery from three-year lows as yields rise

The dollar rose to a six-day high against a basket of major currencies on Tuesday, extending a rebound from a three-year low last week, helped by rising U.S. Treasury yields and as some traders trimmed overstretched bets against the U.S. currency. The dollar index .DXY, which measures the greenback against a basket of six major currencies, was up 0.69 percent at 89.713, on pace for its best one-day gain in nearly two weeks. “I think, right now, what we are seeing is just a little bit of profit-taking (in other ...

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New Favorite Way to Short the Dollar Has Yen Replacing Euro

The rally that’s made the yen 2018’s top performer among developed-market exchange rates will extend as speculators pick the Japanese currency over the euro to ride the U.S. dollar’s weakness, say analysts. Piggybacking on an economy that’s expanded for eight straight quarters, the yen has stolen the limelight from the euro this year. The single currency’s gains have slowed after 2017 proved to be its best year in well over a decade amid bets the European Central Bank will scale back stimulus. Options traders are currently the most bullish on ...

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Cryptocurrencies ‘could drop to near-zero at any time,’ Ethereum founder warns

Cryptocurrencies are a nascent asset class and could fall violently at any time, the founder of blockchain network Ethereum warned. “Reminder: cryptocurrencies are still a new and hyper-volatile asset class, and could drop to near-zero at any time,” Vitalik Buterin said on Twitter. “Don’t put in more money than you can afford to lose.” Buterin added: “If you’re trying to figure out where to store your life savings, traditional assets are still your safest bet.” Cryptocurrencies have recovered slightly from a severe sell-off which saw the market lose as much ...

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Sterling edges lower ahead of crucial wage data

Sterling edged lower against the dollar and euro on Monday, holding off 10-day highs hit last week, as traders awaited key wages data due later this week for clues to the pace of monetary tightening from the Bank of England. Markets have moved to price in an interest rate hike in May, but such tightening will hinge on pay growth picking up, and on whether Prime Minister Theresa May can soon secure a transition deal for the two years after Britain quits the European Union. The shift in market expectations ...

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Sterling rises versus euro as May meets Merkel in Berlin

The pound fell on Friday against a stronger dollar but rose versus the euro, with traders watching for any positive signs from a visit to Berlin by Prime Minister Theresa May. May is visiting German leader Angela Merkel, hoping to make progress on overcoming a near-deadlock on agreeing the terms of Britain’s exit from the EU next year. The British prime minister said she wanted a Brexit deal that was good for companies in Britain and the rest of the European Union after meeting with Merkel. Against the euro, sterling ...

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‘Trump Trilemma’ Leaves U.S. Dollar as Odd One Out, Says ING

U.S. financial markets are facing a “Trump Trilemma” that could leave the dollar out in the cold. Only two of three things happening in U.S. markets can co-exist for long: rising bond yields, a weaker greenback and confidence in America’s economic future, ING Bank N.V. said. The dollar is the second-worst performer of 2018 among a basket of major currencies tracked by Bloomberg, besting only the South Korean won, while the U.S. 10-year Treasury yield is up nearly 50 basis points year-to-date. “The conflicting market narratives of the Trump administration’s ...

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Dollar cools despite rising bond yields, hits 15-month low vs yen

The dollar fell across the board on Thursday, hitting a fresh 15-month low against the yen late in the session, as negative sentiment about the U.S. currency outweighed a rise in 10-year Treasury yields to their highest levels in four years. Analysts gave various explanations for the dollar’s broad weakness, which came as the yield on the benchmark U.S. government bond neared 3 percent, and as stock markets and commodities rose. But most agreed it was a long-term trend. “Forex markets rotate from theme to theme all the time. The ...

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Cursed by the Yen: Investor Views on How Currency Haunts Stocks

For many years, Japanese stocks moved in tandem with the yen. When the currency weakened, they tended to rise. Last year, that relationship started to break down. The benchmark Topix index surged 20 percent even as the yen strengthened almost 4 percent against the dollar. But recently, the negative correlation has started to come back, with the Topix and Nikkei 225 Stock Average failing to join global stocks’ rebound from their selloff, primarily because the yen jumped. All this means that some of the world’s biggest money managers disagree about ...

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Dollar reverses earlier gains as equities show resilience

The U.S. dollar fell on Wednesday, as equity markets rebounded quickly following a stronger-than-expected inflation data report. The announcement that the U.S. core Consumer Price Index posted its biggest gain in a year raised expectations that price pressures may accelerate, prompting a faster pace of interest rate increases from the Federal Reserve. The possibility that the Fed would clamp down on inflation initially drove up the dollar index .DXY. But the dollar quickly fell to a session low of 89.231 against a basket of currencies, as the equity market recovered ...

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Not Everyone Thinks There’s Just Bad News for the Pound

Brexit may be back on the agenda for the pound, but that doesn’t mean the currency will plummet, according to ING Groep NV. With the U.K. government set to outline its Brexit vision this week ahead of next month’s European Union leaders’ summit, short-term risk premium is likely to make a comeback, London-based currency strategist Viraj Patel wrote in a note. Still, ING sees the repricing of a hawkish Bank of England acting as a backstop for sterling amid signs investors are focusing more on economic data than politics. “The ...

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