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Dollar Set for 3rd Consecutive Week of Gains as Recession Risks Loom
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Global Equity Funds Post Third Weekly Outflow on Slowdown Fears
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Sterling Struggles to Pull Away From March 2020 Low
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Dollar Consolidates at 2-decade High; Euro at Parity
Sterling Falls as Investor Nerves Boost Dollar
Date: July 14, 2022
LONDON (Reuters) – Sterling fell on Thursday as another bout of risk aversion sent investors snapping up dollars and selling currencies deemed riskier when the outlook is so uncertain. The pound fell 0.3% to $1.1856, not far from the more than two-year low of $1.1807 hit on Tuesday. Against the euro, where the pound has...
Sterling Rallies as Dollar Sellers Emerge, UK Growth Beats Forecasts
Date: July 13, 2022
LONDON (Reuters) -The British pound rose on Wednesday, helped by a broadly weaker dollar and after data showed the UK economy grew unexpectedly in May. Economic output expanded by 0.5% in May, although consumer services fell as the surge in inflation hit shoppers. A Reuters poll of economists had pointed to zero growth in May...
Dollar Jumps, Euro Breaks Parity After Consumer Prices Surge
Date: July 13, 2022
By Karen Brettell NEW YORK (Reuters) – The dollar surged to a 20-year high against a basket of currencies and the euro broke below parity against the greenback after data on Wednesday showed U.S. consumer price inflation surged to a 40-1/2-year high in June. The consumer price index increased 1.3% last month as gasoline and...
Explainer-Why the Euro’s Fall Below Parity Versus Dollar Matters
Date: July 13, 2022
LONDON (Reuters) – Europe’s single currency has dropped below parity against the dollar for the first time in almost 20 years, battered by growing recession fears in the euro area. On Wednesday, it slumped to as low as $0.9998 and is down almost 12% so far this year. It started the year on a strong...
Euro Falls Below Parity for the First Time in 2 Decades
Date: July 13, 2022
LONDON (Reuters) -The euro dropped below parity against the dollar the first time in almost two decades on Wednesday, as a hawkish U.S. Federal Reserve and growing concern about rising recession risks in the euro area continued to batter the single currency. The euro started this year on a strong note given a post-pandemic economic...
Stocks and Euro Slip Ahead of Key U.S. Inflation Data
Date: July 13, 2022
By Marc Jones LONDON (Reuters) – Stocks slipped on Wednesday and the euro lurked just above parity against the dollar, as traders waited to see if U.S. inflation data later bolsters the case for another supersized Federal Reserve rate hike this month. Recession worries meant Europe stumbled out the blocks after a relatively steady session...