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Daily Currencies Ratings

Dollar dips to four-week low as yields pull back; rouble sinks

The U.S. dollar sank to a four-week low against other major currencies on Thursday as Treasury yields pulled back from last month’s surge, with investors increasingly convinced the Federal Reserve will keep interest rates low for some time. The Russian rouble sank more than 1% to 76.65 per dollar on reports the U.S. will announce sanctions on Russia as soon as Thursday for alleged election interference and malicious cyber activity. The dollar index, which tracks the it against six other currencies, dipped to its lowest since March 18 at 91.535 ...

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Europeans want digital euro to be private, safe and cheap: ECB survey

Euro zone citizens expect the European Central Bank’s proposed digital euro to be private, safe and cheap, an ECB survey showed on Wednesday. The ECB is working on creating an electronic form of cash to complement banknotes and coins in a bid to stem competition from cryptocurrencies such as Bitcoin, Tether and Facebook’s proposed Diem. An ECB poll showed that privacy when making payments, a key feature of cash that some fear will get lost when switching to an electronic means of payment, was the number one priority for both ...

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Dollar nurses losses as ‘mean reversion’ trade widens

The dollar nursed losses near a one-month low on Wednesday as strong demand at a U.S. bond auction fuelled a widespread drop in Treasury yields, reducing the interest rate advantage the greenback held over other major currencies. While rate differentials between U.S. and German benchmark 10-year yields have narrowed slightly to 193 bps from more than 200 bps at the start of the month, they remain considerably higher than 150 bps seen at the start of the year. April has been a month of “mean reversion” trades among major currencies ...

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Dollar near one-month lows as strong debt sale weighs on U.S. yields

The dollar held near a one-month low on Wednesday as strong demand at a U.S. bond auction fuelled a widespread drop in Treasury yields, reducing the interest rate advantage the greenback held over other major currencies. In early London trading, the dollar edged 0.1% lower versus a basket of its rivals to 91.75, its lowest level since March. 19. After peaking at a 4-1/2 month high of 93.43 at the end of March, the greenback has since declined nearly 2% as Treasury yields eased. While rate differentials between U.S. and ...

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Dollar edges up as markets wait for U.S. inflation data

The dollar edged higher on Tuesday, helped by a pick-up in U.S. Treasury yields, but was still near three-week lows as markets waited for inflation data in the United States. The dollar has fallen so far in April, after surging in the first three months of 2021 on expectations that a combination of monetary stimulus and government spending would cause inflation to spike. U.S. CPI data for March is due at 1330 GMT and is expected to show a rise in inflation to 2.4%. Market participants will also be paying ...

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Dollar bounces higher as traders brace for inflation data

The dollar gained ground on Monday after last week’s drop as traders assessed the outlook for Treasury yields, while awaiting crucial U.S. inflation and retail sales data in coming days. Elsewhere it was a quiet start to a data-heavy week for foreign exchange markets. The euro dipped back below $1.19 while the British pound briefly fell to a two-month low, with some analysts citing blood clot concerns around AstraZeneca’s COVID-19 vaccine, which the UK has relied heavily on for its aggressive vaccination programme. The dollar’s fortunes have been tied to ...

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G20 currency language ensures countries won’t resort to currency intervention: Aso

A recent clarification to the Group of 20 major economies’ stance on currency rates ensures that countries won’t resort to currency intervention for competitiveness and there was no change to its stance despite the tweaks to its foreign exchange language, Japanese Finance Minister Taro Aso said. Aso was speaking to reporters on Friday after a cabinet meeting. Source: Reuters (Reporting by Tetsushi Kajimoto; Editing by Christian Schmollinger)

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Digital pound would boost post-Brexit City of London, think-tank says

A digital pound must be at the heart of Britain’s efforts to strengthen the City of London’s global attraction as a financial centre after Brexit, think-tank CityUnited Project said on Friday. The finance ministry is due to set out proposals for making Britain’s capital market more attractive after Amsterdam toppled London to become Europe’s top share trading centre after the City was cut off from the European Union on Dec. 31. CityUnited Chairman Daniel Hodson said there is now a “swelling majority” in the City that believes it was better ...

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Dollar steadies after week of falls

The dollar recovered slightly on Friday but was still heading for its softest week of the year after surprisingly weak U.S. jobs figures the previous day and ongoing loose Federal Reserve policy prompted investors to trim their bets. The greenback is on track for a nearly 1% weekly fall against a basket of major currencies, although it edged up a quarter of a percent on the day. The euro and yen are poised for their largest weekly percentage gains of the year, around 1% up each. “In short, the energy ...

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Cyber yuan: China rolls out its own e-currency, a first for major economy

With cyber yuan, the Chinese government has created a digital currency controlled by its central bank. With credit cards and payment apps, money dealings are already sort of virtual. But now, China is turning legal tender itself into computer code, The Wall Street Journal (WSJ) reported. China’s version of a digital currency is controlled by its central bank, which will issue the new electronic money. It is expected to give China’s government vast new tools to monitor both its economy and its people. By design, the digital yuan will negate ...

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Dollar hovers above two-week lows

The U.S. dollar traded near its lowest in more than two weeks versus major peers on Thursday, tracking Treasury yields lower, after minutes of the Federal Reserve’s March policy meeting offered no new catalysts to dictate market direction. Fed officials remained cautious about the risks of the pandemic – even as the U.S. recovery gathered steam amid massive stimulus – and committed to pouring on monetary policy support until a rebound was more secure, the minutes showed Wednesday. Fed Chair Jerome Powell will speak at a virtual International Monetary Fund ...

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Dollar trades near two-week low as U.S. yields fall

The U.S. dollar traded near its lowest in more than two weeks versus major peers on Thursday, tracking Treasury yields lower, after minutes of the Federal Reserve’s March policy meeting offered no new catalysts to dictate market direction. Fed officials remained cautious about the risks of the pandemic – even as the U.S. recovery gathered steam amid massive stimulus – and committed to pouring on monetary policy support until a rebound was more secure, the minutes showed Wednesday. Fed Chair Jerome Powell will speak at a virtual International Monetary Fund ...

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Dollar hovers near two-week low after U.S. yields slip

The dollar hovered near two-week lows after U.S. bond yields eased from recent highs, while market participants waited for the Federal Reserve’s meeting minutes due later in the session to help determine the future path for the dollar. The previous quarter saw a spike in U.S. Treasury yields and the dollar’s strongest rally in years, on rising expectations that accelerating U.S. economic growth and inflation could force the Fed to abandon its pledge to keep interest rates near zero until 2024. The International Monetary Fund said on Tuesday that unprecedented ...

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Dollar steadies after Monday’s drop; euro struggles near $1.18

The dollar steadied on Tuesday after posting its biggest drop in three weeks during the previous session as investors consolidated positions following a recent rally. The dollar has risen this year, along with Treasury yields, as investors bet the United States would recover faster from the pandemic than other developed nations, amid massive stimulus and aggressive vaccinations. At 2.5%, March’s was the biggest monthly gain for the dollar since the end of 2016. But April got off to a weak start for the dollar as hedge funds cut their long ...

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Dollar consolidates Q1 gains with Biden’s spending plan

Backed by a $2 trillion U.S. government spending plan, the dollar consolidated its first-quarter gains on Thursday, holding near multi-month highs while a new lockdown in France weighed on the euro. In early trades in Europe, the dollar index stood at 93.286, close to a five-month high of 93.439 reached on Wednesday. The U.S. currency gained 3.57% against the basket of six major currencies during the first quarter of 2021, its best quarterly performance since 2018 with investors betting on a swift and robust economic recovery. The gains came as ...

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