Forex
Investing.com - The U.S. dollar edged lower in early European trade Friday, but was still on course for its largest weekly rise in over a month on fading expectations of early Federal Reserve rate cuts.
At 04:40 ET (08:40 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% lower at 104.910, but was on track for a gain of 0.6% this week, its largest one-week rise since mid-April.
Dollar boosted by reduced rate cut... (continue reading...)By Saqib Iqbal Ahmed
NEW YORK (Reuters) -The dollar slipped against most major currencies on Friday as traders booked profits after recent gains but the U.S. currency remained well-placed for further advances, supported by strong U.S. economic data that has prompted markets to dial back expectations for interest rate cuts.
Data on Friday showed new orders for key U.S.-manufactured capital goods rebounded more than expected in April and... (continue reading...)
Investing.com - The U.S. dollar handed back some of the previous session’s gains Thursday, but remained near a one-week high after the release of hawkish minutes from the last Federal Reserve meeting suggested U.S. interest rates would remain elevated for some time.
At 04:20 ET (08:20 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% lower at 104.705, after gaining 0.3% overnight.
Dollar boosted by hawkish Fed... (continue reading...)Speculation around China's potential "de-dollarization" strategy is intensifying. In a note Wednesday, Yardeni Research addressed the question of whether China is dumping US dollars, emphasizing the currency's historical resilience and current status.
The firm notes that since the Great Financial Crisis, the dollar has appreciated significantly, rising 28.7% over the past 15 years and 16.4% over the last five. Despite persistent speculation, foreigners' demand for US... (continue reading...)
By Saqib Iqbal Ahmed
NEW YORK (Reuters) -The dollar rose against the euro on Thursday after data showed U.S. business activity accelerated to the highest level in just over two years in May, suggesting that economic growth picked up half-way through the second quarter.
S&P Global said that its flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, jumped to 54.4 this month. That was the highest level since... (continue reading...)
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