Euro sinks after bleak manufacturing, services data; U.S. dollar rises

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The euro slid across the board on Thursday as weaker-than-expected German and French PMI data showed that the euro zone economy is struggling to gain traction, prompting traders to trim bets on big rate-hike moves from the European Central Bank. The dollar, on the other hand,…

Dollar dips as Fed hikes rates, flags slowing economy

By Saqib Iqbal Ahmed NEW YORK (Reuters) – The dollar slipped against a basket of currencies on Wednesday, after the Federal Reserve raised interest rates by 75 basis points in a historic move to fight inflation and projected a slowing economy and rising unemployment in the months to come. The rate hike was…

Dollar towers over peers as markets bet on large Fed rate hike

By Alun John HONG KONG (Reuters) – The dollar held near its overnight 20-year peak on Wednesday ahead of the outcome of the Federal Reserve policy meeting at which markets are pricing in an outsized 75 basis point interest rate hike as policymakers try to rein in rampant inflation. A key U.S. currency…

Dollar towers as traders brace for hawkish Fed

By Tom Westbrook SINGAPORE (Reuters) – The U.S. dollar stood by a fresh 20-year peak on Tuesday and just about everything else nursed losses as investors braced for aggressive Federal Reserve rate hikes and a possible recession. After a hot U.S. inflation reading on Friday, markets have scrambled to price in steeper hikes.…

Dollar on front foot as traders await U.S. inflation data for Fed cues

By Alun John HONG KONG (Reuters) – The dollar was at a two-week high on the euro on Friday, ahead of inflation data that should guide the Federal Reserve’s policy tightening path, and after the European Central Bank said it would start its rate-hike campaign next month. U.S. core consumer price growth is…

Yen extends slide, euro steady as all eyes on ECB meeting

By Alun John HONG KONG (Reuters) – The yen dropped to a 20-year low on the dollar on Thursday, though most major currency pairs traded cautiously ahead of a highly-anticipated meeting by the European Central Bank, which should offer insights into its monetary policy tightening plans. The ECB is all but certain to…

Dollar dips as hopes rise that inflation has peaked

By Chuck Mikolajczak NEW YORK (Reuters) – The U.S. dollar index retreated from earlier highs and fell on Tuesday as Wall Street stocks erased initial declines amid growing hopes that inflation may have peaked, but the greenback managed to hit its highest level in 20 years against the Japanese yen. While a decline…

Dollar extends 20-year high vs yen amid inflation jitters; Aussie slips before RBA

By Kevin Buckland TOKYO (Reuters) – The dollar continued its overnight rally into Asian trading hours on Tuesday, hitting fresh two-decade highs versus the yen, as worries about persistent inflation pushed up U.S. bond yields. The greenback also edged higher versus the euro, sterling and Swiss franc. It crept up, too, versus the…

Dollar falls as investors reach for riskier currencies

By Saqib Iqbal Ahmed NEW YORK (Reuters) -The U.S. dollar fell across the board on Thursday, ceding ground gained in recent sessions as firmer risk sentiment prompted investors to reach for higher-yielding currencies. Stock markets around the world rose on Thursday after recent weakness, as bets Saudi Arabia may boost crude production cooled…

Dollar to clear recent weak period unscathed – FX analysts

By Hari Kishan BENGALURU (Reuters) – The U.S. dollar is set to clear its recent weak period unscathed and remain dominant because the number of reasons supporting it, including its safe-haven status, still strongly outweigh any reason to sell, according to a Reuters poll. Risk assets, which had their worst start to the…