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Daily Currencies Ratings

Dollar steadies after U.S. healthcare bill pulled

The dollar pulled back from near a four-month low against the Japanese yen on Friday, and was on pace to snap an eight-day losing streak against the safe-haven currency, after Republicans killed their bill to overhaul the U.S. healthcare system. Republican leaders of the U.S. House of Representatives pulled legislation to overhaul the U.S. healthcare system from consideration on Friday due to a shortage of votes despite desperate lobbying by the White House and its allies in Congress, dealing a stiff setback to President Donald Trump. With a risk-averse mood ...

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Sterling hits one-month high after retail sales bounce

Sterling hit a one-month high against the dollar on Thursday, outperforming other major currencies after stronger than expected UK retail sales data soothed worries about weakening consumer sentiment. Sales rose by 1.4 percent in February from January, the official numbers showed, beating a 0.4 percent increase forecast from a Reuters poll of economists and ending a streak of three consecutive monthly declines. For the three months to February, this was still the biggest slide for retail sales in nearly seven years as higher fuel prices eroded shoppers’ disposable income and ...

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Barclays the latest bank to ditch euro below parity with dollar call

Barclays became the latest big bank to back off its forecast for the euro to fall below parity with the dollar, saying on Thursday that it now sees the single currency falling to as low as $1.03 this year before gradually recovering. Currency analysts at the world’s sixth biggest foreign exchange trading bank said the political risk from a series of elections in Europe has ebbed, and that the European Central Bank will move to normalise its ultra-loose monetary policy quicker than previously anticipated. The dollar, meanwhile, is unlikely to ...

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Most Asian currencies dip as investors grow cautious on Trump’s health bill

Most Asian currencies fell against the dollar on Thursday as investors waited to see if U.S. President Donald Trump could push through a health bill to replace “Obamacare”, which would open the way for tax cuts. Trump was to meet later in the day with members of the Freedom Caucus, a conservative Republican faction which have demand changes to the bill, which is Trump’s first major legislation since taking office. Fierce opposition could delay promised tax reforms, which have boosted U.S. financial markets. “It is the risk sentiment which is ...

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Oil Tightens Its Noose Around Currency Market as Rout Deepens

Oil is re-asserting its stranglehold on the currencies of energy producers. After ignoring volatile crude prices for most of the year, the currencies of Norway and Canada are succumbing to a selloff that has knocked 12 percent off the value of their biggest export this month. Russia’s ruble, a favorite destination of carry traders using borrowed dollars to invest in higher-yielding assets, has proved more resilient. “In the past few months, oil prices had taken the backseat, with shifts in interest-rate differentials and monetary policy expectations chiefly driving NOK and ...

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Dollar hits four-month low vs yen on growth pace rethink

The U.S. dollar hit a four-month low against the safe-haven yen on Wednesday as investors rethought growth expectations under a Trump administration that had pushed the greenback to a 14-year peak and stocks to record highs. The dollar, which had slipped after last week’s less hawkish Federal Reserve monetary policy statement, took a turn for the worse this week amid growing doubt about the potential pace of U.S. interest rate increases. On Wednesday, the dollar index, which measures the greenback against a basket of six major currencies, was down 0.12 ...

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Dollar Bulls Are Throwing in the Towel as Trump Wagers Evaporate

Four months after the dawn of the Trump trade, currency investors worldwide are capitulating. That’s the signal from Bank of America Corp.’s flow data, which blends positioning and sentiment surveys conducted with its hedge fund and real-money clients, and publicly available futures data. The bank’s takeaway is that bullish dollar positions put on after the election have completely disappeared. “The dollar positions accumulated in the buildup and immediate aftermath of the U.S. election look to have been fully unwound,” Bank of America strategists led by Myria Kyriacou wrote in a ...

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Dollar Consolidates as Conflicting Signs on Direction Puzzle

The dollar swung between gains and losses as a slump in stock markets spurred haven demand for the yen, while investors reduced their exposure. Risk aversion was evident in both the spot and options markets: dollar-yen was lower a seventh day, set for its longest losing streak in two months, while bearish sentiment as expressed through risk reversals touched its strongest level in six weeks. Aussie-yen, a common risk barometer, was lower by the most in three months on a two-day basis. Refuge seeking amid equities tumble and the possibility ...

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Sterling rally halts around four-week high

The pound flattened out on Wednesday after hitting its highest levels in almost four weeks, speculation that the Bank of England will raise rates within the next year cooled by broader concerns about a Brexit-driven slowdown in the UK economy. Sterling has surged 3 percent in the past week, driven by a turnaround in the dollar and BoE minutes last week that showed a number of policymakers on the verge of voting for a rise in rates. Another jump in inflation numbers on Tuesday pushed money markets close to fully ...

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Rookie Currency Traders Are Causing Trouble at Crucial Moments

It’s been something of a common lament among Wall Street veterans for a while now. And it goes, more or less, like this: All these darn twenty-something-year-olds around here have no idea what they’re doing. Perhaps it’s just the typical grousing of community elders, but last week, the Bank for International Settlements said there may be something to the notion. Tucked deep into a report on foreign-exchange market liquidity was a brief paragraph on how rookie traders could be partly to blame — along with falling volumes and the growing ...

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Dollar loses more ground; yen up on safe-haven demand

The dollar dipped to a near-four month low against the Japanese yen on Tuesday as concerns about how quickly the Trump administration can implement pro-growth policies pushed stocks lower and kindled safe-haven demand for the Japanese currency. The dollar fell 0.9 percent to 111.55 yen JPY=EBS, its lowest since Nov. 28. The dollar index, which measures the greenback against a basket of six major currencies, dipped below the 100 level for the first time since Feb. 7. “The current and ongoing breakdown in the U.S. dollar is representative, driving some ...

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Euro Jumps Vs. Dollar, Hitting 6-week High Of $1.08 After French Presidential Debate

Pound jumps after U.K. inflation rises to highest since 2013 The euro gained against the dollar on Tuesday, with analysts attributing the rally to centrist candidate Emmanuel Macron performing well in France’s first televised presidential debate. The shared currency was buying $1.0797, up from $1.0742 late Monday in New York. The euro on Tuesday has traded as high as $1.0805, a level last seen about six weeks ago, according to FactSet data. Macron appears to have won the debate, and his improved prospects in the presidential race are providing support ...

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Sterling slips after as date is set for Brexit trigger

Sterling fell from a three-week high against the dollar on Monday, on the news Prime Minister Theresa May will trigger Britain’s divorce proceedings with the European Union on March 29, launching two years of negotiations. May’s government said her permanent envoy to the EU had informed European Council President Donald Tusk of the date when Britain intends to invoke Article 50 of the Lisbon Treaty – the mechanism for starting its departure from the bloc. The pound GBP=D3, which had been up as much as a third of a percent ...

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Dollar, pound flat as investors digest latest Brexit step

The U.S. dollar was flat against its major rivals on Monday, though trading was volatile after the U.K. government said it would trigger the beginning of the country’s process of leaving the European Union on March 29. The pound GBPUSD, -0.0484% was unchanged at $1.2392, though it swung between solid gains and losses on the day, trading between a range of $1.2364 and $1.2436. The U.K. currency is coming off a three-day rally, as well as a gain of about 1.6% over the course of last week, which took it ...

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Rising U.S. Rates Could Mean Hard Fall for Some Currencies

Federal Reserve officials this week signaled that the end is near for a long-distance relationship that has lasted 16 years. The link in question is the difference between Australian and U.S. interest rates, which has been positive since 2001. As the Fed raised short-term rates by a quarter percentage point on Wednesday, it projected two more such increases in 2017: If it carries through, the upper end of the target range for U.S. rates will be 1.5% by the year’s end–where Australia’s benchmark rate is now. The closing U.S.-Australian rate ...

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