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Dollar Drops as Markets Weigh Trump Tariff Vow, Yen Jumps
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Oil Steadies Amid Possible Middle East Ceasefire
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Dollar Follows US Yields Lower After Bessent Treasury Nomination
Trading
Dollar Retreats From 2-year Peak After Trump Treasury Nomination
Sterling Firms After 3-day Slide Against Sagging Dollar
Date: November 25, 2024
By Medha Singh (Reuters) – Sterling was on track to snap a three-day losing streak on Monday, as the dollar’s slide after the selection of fund manager Scott Bessent as U.S. Treasury Secretary lent support to most major currency pairs. The pound firmed 0.4% to $1.2579 after slumping to a six-month low of $1.2475 on...
Oil Prices Ease, Russia, Iran Tensions Check Losses
Date: November 25, 2024
By Florence Tan and Gabrielle Ng SINGAPORE (Reuters) -Oil prices slipped on Monday following 6% gains last week, but supply worries amid mounting tensions between Western powers and major oil producers Russia and Iran kept a floor under prices. Brent crude futures fell 43 cents, or 0.57%, to $74.74 a barrel by 0705 GMT, while...
ECB Policy Should Not Remain Restrictive for Too Long, Chief Economist Says
Date: November 25, 2024
PARIS (Reuters) -There is still some way to go before euro zone inflation is sustainably back at 2% but ECB policy should not remain restrictive for too long, otherwise price growth could fall below target, Philip Lane, the bank’s chief economist said in an interview. Euro zone inflation has fallen rapidly in recent months, and...
Dollar Climbs, Euro Weakens to Two-Year Low After PMI Data
Date: November 22, 2024
By Chuck Mikolajczak NEW YORK (Reuters) -The euro fell to a two-year low while the dollar gained on Friday after gauges of business activity were released in each region, while bitcoin again hit a record high as it continued its ascent towards the $100,000 mark. HCOB’s preliminary composite euro zone Purchasing Managers’ Index, compiled by...
Weaker Pound Takes FTSE 100 to Best Week in Six Months
Date: November 22, 2024
By Nikhil Sharma (Reuters) -Britain’s FTSE 100 recorded its biggest weekly gain in more than six months on Friday as a slide in sterling supported dollar earners, while banks came under pressure from weak business activity data. The blue-chip FTSE 100 ended the day 1.4% higher, and logged a 2.5% weekly rise, its best since...
Bitcoin Bursts Past $94,000 for the First Time
Date: November 21, 2024
By Medha Singh and Ankur Banerjee (Reuters) – Bitcoin rose to a fresh record high above $94,000 as a report that Donald Trump’s social media company was in talks to buy crypto trading firm Bakkt boosted expectations of a crypto-friendly regime under his incoming administration. Bitcoin, the world’s biggest and best-known cryptocurrency, has more than...