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Thread: USD

  1. #81
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    Dollar drop 1% after FED rate hike

    The dollar nosedived more than 1%, after the Federal Reserve increased interest rates by 0.25% a 0.75-1% range.

    The Federal Reserve struck a familiar tone in its statement, pointing out that interest rate increases “will be gradual” in 2017, and maintained its view of three rate hikes, with the remaining two rate hikes expected later this year.

    The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, dipped 0.87% to 100.74, following the release of the interest rate decision.

    The greenback added to losses and last traded at 100.47 down 1.13%, after Janet Yellen fielded a raft of questions concerning the Fed’s decision to raise rates; future monetary policy decisions and the current as well as future prospects of the U.S. economy.

    Ms. Yellen struck a somewhat dovish tone, as she said the US central bank would continue to provide accommodative monetary policy to support the US economy but warned against a prolonged period of lower rates in order to avoid a situation which forces the fed to “raise rates rapidly”.

    GBP/USD tacked on 1.21% to $1.2296, after hitting a session high of $1.2256 prior to the release of the Fed's interest rate decision.

    The EUR/USD rose 0.97% to trade at $1.0707, while USD/CAD lost 1.22% to $1.3316.

    Meanwhile, the dollar lost ground against the yen with USD/JPY down 1.35% to 114.56.


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  2. #82
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    Dollar gains in Asia as U.S showdown looms on healthcare vote.

    The dollar held gains in Asia on Friday as a dramatic inter-party showdown loomed in the U.S. as the votes needed to replace the Obama-era healthcare law fell short on Thursday and President Donald Trump's office said he was "done negotiating" and wanted an up-or-down decision on Friday.

    Earlier, House Majority Leader Rep. Kevin McCarthy told CNN that House debate on the bill will start Friday morning. Later, House Speaker Paul Ryan issued a terse statement: "We have been promising" this, and "tomorrow we're proceeding." Members of the Freedom Caucus, Republican legislators, however vow to vote "no."

    The US dollar index which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose 0.10% to 99.66. USD/JPY changed hands at 111.23, up 0.27% as Prime Minister Shinzo Abe faces a scandal at home related to his wife's work on schools.

    AUD/USD traded at 0.7638, up 0.14%, while GBP/USD easded 0.14% to 1.2503.

    Overnight, the dollar steadied against a basket of major currencies on Thursday, after the release of mixed economic data while investors waited the word on an Obamacare replacement.




  3. #83
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    Dollar Slumps in Asia session after Trump says currency getting too strong

    The dollar slumped broadly on Thursday, falling to a five-month low against the yen, after U.S. President Donald Trump helped accelerate its recent decline by saying the currency was too strong.

    The greenback took a heavy hit after Trump told the Wall Street Journal that the dollar "is getting too strong" and that he would prefer the Federal Reserve to keep interest rates low.

    The comments were a fresh reminder of the president's protectionist trade rhetoric, which has been a source of concern for dollar bulls.

    "Trump's comments came at a time when some had begun to think that perhaps the president was not as supportive of a weak dollar as initially perceived," said Shin Kadota, senior strategist at Barclays (LON:BARC) in Tokyo.

    "But he reiterated his view that a strong currency hurts U.S. competitiveness, adding fresh downward pressure on the dollar."

    The U.S. currency was a shade lower at 109.000 yen after stooping to a five-month low of 108.920.

    It has shed 1.8 percent against the yen so far this week, with the safe-haven Japanese currency already on a bullish footing because of a rise in geopolitical tensions.

    There are fresh concerns about the French presidential election and possible U.S. military action against Syria and North Korea.

    The euro was steady at $1.0669 , not far from a six-day high of $1.0675 reached overnight.


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    Dollar weak as political risks getting worse.


    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, chief market analyst at Commonwealth Foreign Exchange in Washington.


    "The dollar's broad declines are driven by the increasingly mixed tone to U.S. economic data, which has led to investors questioning the extent to which the Fed will be raising rates this year. The political climate is also acting as a key headwind for the dollar." The dollar fell more than 2 percent last week, logging its worst performance in more than a year, amid growing concerns over U.S. President Donald Trump's recent firing of FBI Director James Comey, who was overseeing an investigation into possible links between the president's team and Russia.

 

 
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