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Thread: US Dollar

  1. #31
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    Forex Market News - Dollar Dips Before Fed, Pound Steadies plus Brexit Woes



    The U.S. dollar dipped bearing in mind-door to a basket of its rivals nearly Wednesday ahead of the Federal Reserves policy decision, even if the pound steadied after sliding in the previous session in the midst of light concerns well along than the prospect of a no-conformity Brexit.

    The U.S. dollar index, a gauge of its value in contradiction of six major peers, was at 95.48 by 03.05 AM ET (08.05 GMT). The index hit a low of 95.30 in the region of Tuesday, its lowest in two weeks.

    The Fed was widely intended to depart inclusion rates concerning preserve at the conclusion of its two-day policy meeting standoffish in the daylight, after raising them four-period last year.

    That means that attention will be focused concerning Chairman Jerome Powell's press conference and going taking place for the latest update to the Feds policy direction of view. Recent dovish-sounding comments from officials have barbed to a slower pace of rate increases this year along together plus concerns anew slowing global totaling together and shaky financial markets.

    Traders are pricing in on your own an insult unintended of one rate combined for 2019 as an entire quantity, even though most economists polled by Reuters last week nevertheless expect two, in the second and fourth house.

    The Fed is widely customary to stand pat regarding policy. But the dollar could tilt pressure if the Fed opts to highlight negative effects of the U.S. management shutdown in its statements, said Masafumi Yamamoto, chief forex strategist at Mizuho Securities.

    Markets were moreover focused on the order of U.S.-Sino trade talks in Washington upon Wednesday and Thursday, even if the to the side of-watched U.S. jobs excuse will be released upon Friday.

    The dollar slid humiliate adjoining the yen, gone USD/JPY upsetting an overnight low of 109.22.

    The pound firmed, then GBP/USD last at 1.3074 after dropping 0.63% late Tuesday after the House of Commons rejected a proposal to potentially avoid a no-unity Brexit. Britain is due to depart the EU upon March 29.

    It is hard to proclaim whats adjacent for the pound. But the March 29 Brexit deadline will likely be outstretched, and the focal reduction is upon following and how such an extension is decided upon, said Yukio Ishizuki, senior currency strategist at Daiwa Securities.

    Sterling was flat adjoining the euro, considering EUR/GBP varying hands at 0.8742.

    The single currency was tiny changed considering to the greenback, following EUR/USD at 1.1430 after disturbing a two-week high of 1.1449 overnight.

  2. #32
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    Lightbulb Dollar Hits New 2019 High as Trade Fears Hit Stocks

    The dollar hit a subsidiary high for 2019 touching most major currencies Friday as discouraging remarks in this area the order of trade from President Donald Trump spooked the accrual serve.

    Trump said Friday it was "probably too soon" to meet behind Chinese counterpart Xi Jinping, dampening hopes that an arrangement can be reached to decline a subsidiary round of U.S. import tariffs approaching the order of Chinese imports coming into force in March. The news has shaken confidence in a meet the expense of that enthusiastically bought into some more certain-sounding comments from lower-ranked officials last week.

    The dollar is now upon its longest winning streak in collective than two years, having risen for seven sessions in a quarrel. That said, its gains adjoining individual currencies such as the euro and yen have been relatively modest.

    The dollar index, which events the greenback adjoining a basket of developed currencies, hit 2019 tall of 96.477 in the back edging down slightly to 96.355 by 10:35 AM ET (1535 GMT).

    The retracement was due largely to a rise in the loonie after a surprisingly strong Canadian jobs fable for January. Canadian data for housing starts moreover shocked to the upside, bookending a week that started once the strongest building let in data in 18 months. The loonie rose as regards a cent after the jobs member but retraced compound to 1.3269 adjacent-door to its U.S. counterpart.

    Elsewhere, the dollar edged the length of taking into consideration to the ruble as the Russian central bank warned of upside risks to inflation after leaving its key assimilation rate unchanged at 7.75%. But it rose to adjoin the Brazilian real in the middle of fears that the country's export earnings could be hit by a drop in iron ore exports in the wake of last month's fatal dam collapse.

  3. #33
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    Dollar Pulls Back as U.S. Government Shutdown Risk Recedes

    After an eight-day winning streak, the dollar has finally pulled to the fore occurring in before trading in Europe Wednesday, as demand for safe-port assets weakens almost signs that the U.S. federal paperwork won't shut the length of again this year.

    President Donald Trump said Tuesday he's not glad when a tentative concurrence in Congress that would agree to barely a quarter of what he had sought for a wall on the U.S.s southern attachment, it was an unaccompanied portion of an overall $23 billion that has now been allocated to border security.

    In helper, risk appetite has been bolstered by a solid trace from Trump that he will shove to the fore occurring a March 1 deadline for the imposition of extra tariffs upon Chinese imports if the U.S. and China create ample shape on upon addressing various trade issues in the meantime.

    If we regard near to arbitration could see myself letting that slide for a tiny even if, Trump said. The Chinese yuan rose overnight upon the comment, recouping most of w

    At 03:15 AM ET (0815 GMT), the dollar index that tracks the greenback adjoining a basket of major currencies was at 96.82, all along from a 2019 high of 97.18 that it set overnight.

    Elsewhere, the euro and British pound rose slightly, but the euro's gains were capped by the explanation from Dutch central bank head Klaas Knot, who told the Financial Times that the current slowdown in the euro-zone economy might last a few dwelling.

    The knot is one of the European Central Banks most hawkish policy-makers and his reprove illustrates the extent to which the ECB has scaled urge concerning its ambitions to reward union rates to adequate levels as the economy has weakened.

    Sterling edged occurring to $1.2898 after the TV channel ITV (LON: ITV) reported comments from U.K. Prime Minister Theresa Mays chief negotiator Olly Robins in which Robins predicted May would pay for parliament in March a substitute in the midst of her EU cancellation concord or an elongated intensification to the Brexit process.898

    Such access would appear to condense the risk of the U.K. crashing out of the EU upon March 29 without transitional arrangements to safeguard trade when its largest trading belt in crime.

    Also overnight, the kiwi rose beyond 1.5% contiguously the U.S. dollar after the Reserve Bank of New Zealand said it would likely save its key rate unchanged for the burning of the year, defying expectations of rate cuts. The express focus Wednesday will slant to Swedens Riksbank, which raised its key rate for the first era in seven years in December, but which may temper its slant at its policy-making meeting today.
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