trading
Top Stories
Russian rouble weakens vs dollar but hovers near 7-year highs
Trading
Sterling hit as UK inflation hits new 40-year high
Trading
Dollar slips as global growth worries fester
Top Stories
Sterling retreats as UK inflation hits new 40-year high
Britain’s major rail strike caps sterling rally
Date: June 21, 2022
By Joice Alves LONDON (Reuters) -The pound rose against a weakening dollar but fell versus the euro on Tuesday, with an equity rally helping risk-sensitive sterling while Britain’s biggest rail strike in decades added to growth concerns. After a three-week losing streak versus the dollar, the British pound rose 0.3% against a weakening greenback to...
Yen sinks to fresh 24-year low vs U.S. dollar
Date: June 21, 2022
By Samuel Indyk and Gertrude Chavez-Dreyfuss LONDON/NEW YORK (Reuters) – The Japanese yen plunged against the U.S. dollar on Tuesday to its lowest level since October 1998, as the Bank of Japan’s ultra-loose monetary policy was in stark contrast with an aggressive Federal Reserve determined to stamp out soaring inflation. The yen dropped to a...
Crypto’s latest meltdown leaves punters bruised and bewildered
Date: June 21, 2022
By Tom Wilson, Elizabeth Howcroft, Nupur Anand and Ece Toksabay LONDON/MUMBAI/ANKARA (Reuters) – For Jeremy Fong, U.S. crypto lender Celsius was an ideal place to stash his digital currency holdings – and earn some spending money from its double-digit interest rates along the way. “I was probably earning $100 a week,” at sites like Celsius,...
Bank of England’s Mann says weak pound makes case for big rate hike
Date: June 20, 2022
By David Milliken and William Schomberg LONDON (Reuters) -The Bank of England should raise rates faster than it has so far because sterling’s weakness is adding to Britain’s inflation pressures, interest-rate setter Catherine Mann said on Monday. Mann – who voted unsuccessfully for a half-point increase in interest rates last week – said the U.S....
Sterling eyes tentative rebound after 3-week losing streak
Date: June 20, 2022
LONDON (Reuters) -The pound edged higher on Monday, attempting to break a three-week losing streak versus the U.S. dollar as hawkish comments from Bank of England policymakers continued to support the currency. Interest-rate setter Catherine Mann argued in a speech during afternoon trading that the central bank should raise rates faster than it has done...
Will the mighty dollar become a problem?
Date: June 20, 2022
By Prof Nick Sargen, Darden School of Business At a time when both U.S. stocks and bonds have sold off significantly, the U.S. dollar has exhibited considerable strength against most currencies. Thus far, U.S. policymakers have not expressed concern about the dollar’s strength as it helps to temper high inflation. But it could become an...