Forex
Thursday's BoE meeting is seen as the key driver for GBP, according to analysts at ING. They see EUR/GBP trading in a 0.8550-0.8600 range and upside risks on a BoE dovish surprise on Thursday.
"Were it not for the comments of Bank of England Chief Economist, Huw Pill, markets would be a lot more excited about a dovish shift in communication at Thursday's BoE policy meeting. As it is, our core view is that it will still be a little early for the BoE to shift its... (continue reading...)
1.08 is sees as fair value for EUR/USD over the medium-term, said analysts at ING.
"EUR/USD had a decent jump on the slightly softer-than-expected US jobs data on Friday. Yet unless US unemployment rises 'meaningfully', it will have to be the US price rather than the activity data, which determines the next big trend for the Fed and the dollar. As such, next week's April US CPI data will probably be the next sizeable mover for global FX rates. Before then, the eurozone... (continue reading...)
The softer NFP data last week was not enough to turn the dollar trend, said analysts at ING. They sees support for the currency this week.
"It looks like Friday's slightly softer US jobs report has been enough to put paid to any ideas of a Fed hike this year. And Fed officials have also been keen to dampen speculation over a possible hike. And whilst the pricing of the Fed easing cycle this year has grown (45bp of cuts now expected for this year), the biggest impact of... (continue reading...)
Investing.com - The move by U.S. authorities to confiscate Russian assets could add to recent efforts to diversify from the dollar, but the greenback is still likely to remain the global reserve currency for the foreseeable future, according to Wells Fargo.
Is the dollar’s role as reserve currency in question?The United States and its allies prohibited transactions with Russia's central bank and finance ministry and blocked about $300 billion of sovereign Russian... (continue reading...)
By Chuck Mikolajczak
NEW YORK (Reuters) -The U.S. dollar rose against most currencies on Tuesday, steadily gaining ground throughout the day as investors digested the latest comments from Federal Reserve officials about the possible path of interest rates.
Minneapolis Federal Reserve President Neel Kashkari said at a Milken Institute conference that stalled inflation, kept higher in part by housing market strength means the central bank will... (continue reading...)
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Dollar slips, while yen soars after suspected intervention
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Japan's yen surges against dollar on suspected intervention
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