Forex
Investing.com - The U.S. dollar fell Thursday, as traders weighed up the competing factors of benign U.S. inflation yet a more hawkish Federal Reserve.
At 04:25 ET (08:25 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.3% lower at 104.340, after trading at its strongest level since mid-May earlier in the week.
Dollar awaits PPI releaseThe dollar saw some volatile trading on Wednesday, falling in the immediate... (continue reading...)
By Shaloo Shrivastava
BENGALURU (Reuters) - The Bank of England will start cutting interest rates in August, according to all but two of 65 economists polled by Reuters, and most of them expect at least one more reduction this year despite persistently high pay and services inflation.
One of the first central banks to start raising rates following the worst of the COVID pandemic, the BoE lifted Bank Rate by 515 basis points between... (continue reading...)
By Samuel Indyk
LONDON (Reuters) - The pound edged higher on Wednesday even as data showed economic growth stagnated at the start of the second quarter, as analysts looked beyond one-off factors and still expected the economic recovery to gather pace in the coming months.
Britain's economic growth was flat month-over-month in April, the Office for National Statistics said, weighed down partly by the impact of heavy rain on activity... (continue reading...)
Investing.com - The U.S. dollar retreated Wednesday, falling back after hitting a four-week high overnight ahead of the conclusion of the latest Federal Reserve policy meeting.
At 04:10 ET (08:10 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.4% lower at 104.775, after touching its strongest level since May 14 at 105.46 overnight.
Dollar awaits Fed meetingThe dollar has slipped back from recent highs, but the U.S.... (continue reading...)
By Karen Brettell
NEW YORK (Reuters) -The dollar dropped on Wednesday after data showed that consumer prices in May rose less than economists expected, but pared losses after updated interest rate projections by Federal Reserve officials showed an expectation for only one rate cut this year.
The headline consumer price index (CPI) was flat on the month, below expectations for a 0.1% gain. Core prices rose by 0.2%, below economists'... (continue reading...)
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