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Yen Sinks to Fresh 24-year Low vs U.S. Dollar
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Crypto’s Latest Meltdown Leaves Punters Bruised and Bewildered
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Bank of England’s Mann Says Weak Pound Makes Case for Big Rate Hike
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Sterling Eyes Tentative Rebound After 3-week Losing Streak
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...
Euro Rises With Focus on Ecb, Dollar Retreats
Date: June 20, 2022
By Samuel Indyk LONDON (Reuters) – The euro rose on Monday as markets focused on the European Central Bank’s tools to fight fragmentation in the currency bloc, looking through the risk of political gridlock in France for now after President Emmanuel Macron lost an absolute majority in the country’s parliamentary election. Macron’s Ensemble alliance secured...
Sterling Gains, on Track to Snap 3-week Losing Streak
Date: June 20, 2022
LONDON (Reuters) – The pound edged higher on Monday, breaking a three-week losing streak versus the broadly struggling U.S. dollar as hawkish comments from policymakers supported the currency. While the Bank of England raised interest rates by just a quarter point last week – lagging more robust action from the U.S. Federal Reserve and other...
Crypto Industry Fears Contagion as Bitcoin Slips Under $20,000
Date: June 20, 2022
By Alun John and Elizabeth Howcroft LONDON/HONG KONG (Reuters) – The cryptocurrency industry was on edge on Monday as bitcoin struggled to stay above a key level, with investors fearing that problems at major crypto players could unleash a wider market shakeout. Bitcoin, the world’s biggest cryptocurrency, was trading just under the symbolic level of...
Yen Tanks as BOJ Sticks to Stimulus, Caps Volatile Week for Fx
Date: June 17, 2022
By John McCrank NEW YORK (Reuters) -The Japanese yen tumbled against the dollar on Friday after the Bank of Japan bucked a wave of tightening and stuck with its ultra-accommodative stance, adding to soaring volatility in currency markets hit by a series of rate hikes this week. Currency markets have been roiled by one of...
Market Positioning Suggests More Pain for Equities Despite Rout – BofA
Date: June 17, 2022
By Saikat Chatterjee LONDON (Reuters) – A market trends indicator by BofA Securities fell to zero for the first time since the pandemic-induced mayhem in financial markets in 2020, signalling extreme bearishness as investors dumped credit and crypto assets. Though U.S. stocks confirmed a bear market this week that began in January this year and...