SINGAPORE - The dollar steadied on Friday as a jump in U.S. bond yields and a drag on sentiment from lacklustre Chinese economic data put the brakes on a selldown of the world's reserve currency.
The mood had the dollar within reach of snapping a seven-week losing streak against the risk-sensitive Aussie AUD=D3, which has settled around $0.7149 and is flat for the week.
The yen JPY= is on course for its weakest week against the dollar in two months and is down about 0.9% at 106.84 from last Friday's close.
The biggest loser has been the kiwi NZD=D3, which was pressured at $0.6538, as the country faces a fresh coronavirus outbreak and after the central bank this week flagged increased bond buying and again mentioned the prospect of negative rates.
Against a basket of currencies =USD the dollar remains 0.2% lower for the week, but it has appeared to arrest a slide that has it about 9.5% below its March peak.
The Reserve Bank of New Zealand sparked a bond rally this week by promising to extend its own purchases and, next week, speed them up as well.
TOKYO - The dollar held overnight gains on Tuesday following seven weeks of an almost relentless fall as investors clung to hopes of a bi-partisan stimulus deal in Washington and U.S. bond yields rebounded from multi-month lows.
The dollar index jumped back to 93.597 from Friday's two-year low of 92.495.
The dollar stood little changed at 105.96 yen.
U.S. congressional leaders and Trump administration officials said on Monday they were ready to resume negotiations on a coronavirus aid deal, although it was unclear whether Democrats and Republicans would be able to bridge their differences.
China imposed sanctions on 11 U.S. citizens, including Republican lawmakers, following Washington's sanctions on Hong Kong and Chinese officials.
U.S. Treasury Secretary Steven Mnuchin said companies from China and other countries that do not comply with accounting standards will be delisted from U.S. stock exchanges as of the end of 2021.
Nov 12 - The dollar was stronger against the yen and Swiss franc on Tuesday as traders grew optimistic ahead of a speech by U.S. President Donald Trump, during which he is expected to again postpone imposing tariffs on European Union autos.
Trump's speech to the Economic Club of New York is expected to be market-moving as he is scheduled to discuss U.S. trade policy.
Currency traders will also be listening for hints about the Trump administration's long-running trade war with China, and any progress towards the "Phase one" trade deal.
Versus a basket of currencies, the global dollar index rose 0.1%. The dollar strengthened against safe haven currencies: it was up 0.2% against both the Japanese yen and the Swiss franc in early London trading.
The New Zealand dollar was down 0.5% at 0.6335 versus the U.S. dollar, only slightly recovered from the low of $0.6323 it reached last week after a central bank survey showed the country's near-term inflation expectations dropped, increasing traders' expectations of a rate cut this week.
The dollar was boosted last week when comments from the Chinese trade ministry were interpreted as a sign of progress on rolling back China-U.S. tariffs, causing traders to dump safe-haven currencies like the yen.
TOKYO - The dollar fell against the safe-haven yen and Swiss franc on Tuesday as investors cut their exposure to riskier assets amid the partial U.S. government shutdown and signs of confrontation between the White House and the Federal Reserve.
The dollar fell 0.39 percent to 110.00 yen, its lowest level since late August and is set to fall for an eighth straight session against the Japanese currency, with London and New York shut for Christmas.
The Swiss franc rose 0.2 percent against the dollar to a 12-week high of 0.98355 to the dollar, extending its 0.9 percent rise on Monday, its biggest daily gain in 11 months.
U.S. stocks plunged more than 2 percent while oil prices sank more than 6 percent in a holiday-shortened Monday trade, as developments in Washington added to investors' concern about a slowdown in the global economy next year.
The Canadian dollar traded at C$1.3584 per U.S. dollar, having hit a 19-month low of C$1.3614 on Monday.
The Australian dollar fetched $0.7042, near this year's low of $0.7021 set in late October.
TOKYO The dollar gained in Asian trading on Friday, getting a leg up against the yen after the Bank of Japan increased its purchases of Japanese government bonds in a move aimed at stemming a rise in yields.
The dollar extended gains against its Japanese counterpart after the BOJ's move, rising 0.6 percent to 113.830 yen after touching a session high of 113.835 yen, its highest level since May 12.
The BOJ offered to buy an unlimited amount of 10-year JGBs at yield of 0.110 percent and also increased its buying of five- to ten-year JGBs through an auction to 500 billion yen from 450 billion yen.
The dollar index, which tracks the greenback against a basket of six major rivals, was 0.2 percent higher on the day at 95.947 up 0.3 percent for the week.
The dollar was bolstered by higher U.S. Treasury yields which rose even after the uninspiring data, amid concerns that the U.S. Federal Reserve will begin unwinding its bond holdings sometime this year.
The benchmark U.S. 10-year yield touched a nearly eight-week high of 2.391 percent on Thursday.
NEW YORK - The U.S. dollar briefly touched a 15-month low against a basket of major currencies on Tuesday on political turmoil in Washington and weak U.S. economic data that kept the Federal Reserve's policy outlook uncertain.
While the dollar was last higher on the day as investors consolidated positions, it was not far from its lowest in more than a year against major rivals as uncertainty was expected to continue weighing on the greenback following President Donald Trump's ouster of White House communications chief Anthony Scaramucci on Monday.
The dollar index, which measures the greenback against a basket of six major rivals, was last up 0.2 percent at 93.065 after touching 92.777, the lowest since early May 2016.
The dollar fell below 110 yen for the first time in more than six weeks, touching 109.94 yen JPY=.
The dollar index fell in July, its fifth consecutive monthly decline, the longest such stretch since December 2010 through April 2011.
"(Political) policy uncertainty in the U.S. I think has been the biggest driver of declines in the dollar recently," said Sireen Harajli, FX strategist at Mizuho in New York.
TOKYO - The euro extended gains to a 2-1/2-year high against the dollar on Monday after the European Central Bank president held back from talking down the currency and as markets worried about the impact of Tropical Storm Harvey on the U.S. economy.
The common currency had already surged about 1 percent on Friday after ECB President Mario Draghi spoke at the Jackson Hole conference on subjects such as global trade but did not touch upon the euro's recent strength.
The euro had gained an initial lift against the dollar after Federal Reserve Chair Janet Yellen made no reference to U.S. monetary policy at Jackson Hole.
"I don't think expectations were that high in the market that Draghi would talk down the euro at Jackson Hole. Even if he had done so, the euro likely would have risen anyway," said Masafumi Yamamoto, chief forex strategist at Mizuho Securities.
"A strong euro cannot be a source of complaint for a region like the euro zone which is blessed with a large current account surplus, a steady economy and is not threatened by deflation. It was thus an opportunity for speculators to buy the euro without much concern."
With much of the immediate focus on the euro after Jackson Hole, the dollar did not fare as badly against the Japanese yen.
TOKYO The dollar dipped to a five-month low against the yen early on Monday as rising tensions over North Korea kept the safe-haven Japanese currency in demand.
The yen remained broadly bid against other currencies as well.
"It is unclear whether the situation over North Korea will escalate into military action, but uncertainty is increasing and the dollar continues to edge lower. The dollar also looks shaky technically, after slipping below the 200-day moving average of 108.80 yen," said Masafumi Yamamoto, chief currency strategist at Mizuho Securities in Tokyo.
With the bulk of the market's focus on how the standoff between the United States and North Korea will play out, the semi-annual U.S. Treasury currency report released late on Friday did not receive as much attention as some had initially expected.
The dollar index against a basket of major currencies was down 0.1 percent at 100.470.
The Australian dollar was steady at $0.7581 while the New Zealand dollar rose 0.2 percent to $0.7013..
LONDON - The dollar held near a 13-month low against a basket of currencies on Monday, weighed down by political uncertainty and increased short positions, but markets were wary of pushing it lower before data due later this week.
Broad market positioning data for the week of July 25 showed short bets against the dollar swollen to their highest levels since a "Taper-tantrum" peak in early 2013.
"Our short-term positions indicators are flashing red in terms of extreme bets against the dollar, especially against the euro and the Aussie and in this kind of environment, a small negative surprise in data elsewhere can trigger a washout," said Viraj Patel, an FX strategist at ING in London.
With euro zone inflation data on Monday seen well below European Central Bank estimates, a risk for a pull-back is rising.
Central bank policy decisions are also due from Australia and the United Kingdom this week with U.S. jobs data scheduled on Friday.
Sterling has been buoyant against the broadly weaker dollar, supported by hopes that Britain will exit the European Union under a transitional deal.
NEW YORK The U.S. dollar recovered slightly on Friday, but posted its biggest quarterly decline against a basket of rival currencies in nearly seven years after hawkish signals from foreign central banks this week pressured the greenback further.
The U.S. dollar index, which measures the greenback against a basket of six major currencies, declined about 4.6.DXY percent for the second quarter to mark its steepest quarterly percentage drop since the third quarter of 2010.
The dollar gained about 1 percent against the Japanese yen over the quarter.
The dollar index was last up 0.1 percent at 95.704, while the euro was down 0.2 percent against the dollar at $1.1416.
The euro touched its strongest in nearly 14 months on Thursday, at $1.1445, while the dollar index touched a roughly nine-month low of 95.470 early Friday.
The dollar fell against the Canadian dollar and was last at C$1.2971 after touching a nearly 10-month low of C$1.2948 earlier.
NEW YORK The dollar fell on Thursday after a round of weaker-than-expected U.S. employment data, affirming a gradual pace of interest rate hikes by the Federal Reserve as the labor market cools.
Ahead of Friday's U.S. non-farm payrolls data, the ADP National Employment Report showed private-sector payrolls increased by 158,000 jobs last month, less than the 230,000 positions created in May and below economists' expectations for a gain of 185,000.
The employment index fell to 55.8, compared with 57.8 in May, suggesting a cooling labor market.
"Overall, while there were no abnormally large downside surprises in pre-nonfarm payrolls employment indicators for June, there was a general leaning toward the soft side when it came to June's job numbers," said James Chen, head of research at Forex.com in Bedminster, New Jersey.
The U.S. economy created 138,000 jobs in May. "Any outcome significantly lower than forecast should further dampen Fed expectations and potentially lead to an extended pullback for the dollar," Chen said.
"Fed minutes confirmed anticipated hawkishness, leaving it only a question of time before the Fed starts its balance sheet-reducing operations," Morgan Stanley said in a research note.
NEW YORK The U.S. dollar fell on Friday, adding to its worst week since April 2016 against a basket of major currencies, and having surrendered the gains made since Donald Trump was elected U.S. president.
The dollar index, which tracks the greenback against a basket of six world currencies, has shed more than 2 percent this week.
Uproar over Trump's recent firing of FBI Director James Comey, who was overseeing an investigation into possible links between the president's team and Russia, has pressured the dollar.
"The dollar overall, across the board, has been getting beat up this week and a lot of that has to do with the political risk here in DC," said John Doyle, director of markets at Tempus Inc in Washington.
The dollar fell 0.3 percent against the yen to 111.14 JPY= and had its first weekly drop in five against the Japanese currency.
The dollar fell 3.3 percent against the Brazilian real BRL=. Oil-linked emerging market currencies like the Mexican MXN= and Colombian pesos COP= and the Russian rouble RUB= gained around 1 percent versus the dollar, also boosted by a rise in oil prices.
TOKYO The dollar edged higher against a basket of currencies on Monday, moving away from last week's 6-1/2-month lows and shrugging off news of North Korea's latest missile test as investor attention turned to the Federal Reserve's expected interest rate hike next month.
The dollar index, which tracks the U.S. currency against a basket of six major rivals, inched up 0.1 percent to 97.502, holding well above last week's nadir of 96.797, its lowest since Nov. 9.
The U.S. economy was at or near the Federal Reserve's goals of full employment and stable prices, Williams said, adding that the U.S. central bank wanted to ensure markets stayed calm as the Fed slowly returned interest-rate policy to normal.
Gross domestic product grew at an annual 1.2 percent in the first quarter, faster than the 0.7 percent reported last month, though softening business investment and moderate consumer spending might impede an acceleration in the second quarter.
With U.S. and UK markets closed on Monday for the Memorial Day holiday, major currency pairs were likely to tread water, with few incentives to take new positions.
The South African rand rose to a two-month high of 12.6300 per U.S. dollar, after South African President Jacob Zuma defeated a no-confidence motion against him at a meeting of top officials of the ruling African National Congress on Sunday.
SYDNEY The dollar slowly ceded ground in Asia on Monday with greenback bulls still nursing grudges after the Federal Reserve's rate guidance last week proved to be less "Hawkish" than many had wagered on.
Against a basket of currencies, the dollar was 0.1 percent softer at 100.210, having touched a five-week trough of 100.140 on Friday in the wake of the Fed's rate hike.
Yellen's cautious guidance last week has investors pricing in almost no chance of another rate rise at the next policy meeting in May, rising to around 50-50 for June.
"There will likely be a two month hiatus before the next overt signalling on a Fed rate hike, enough of a time lag not to immediately undermine the favourable risk and carry environment," said Alan Ruskin, head of forex at Deutsche.
The risk was enough to lift short-term German yields last week and narrow the dollar's rate advantage over the euro by around 15 basis points.
This trend could help the euro up to around $1.1000 over the next few months, said Ruskin, though it would ultimately not prevent a stronger U.S. dollar later in the year.
TOKYO The dollar hit a one-month high against the yen on Tuesday, lifted by Treasury yields which surged after U.S. Treasury Secretary Steven Mnuchin commented on the possibility of ultra long-term bond issuance.
The dollar was boosted as long-term Treasury yields soared to multi-week highs after Mnuchin reiterated his view in an interview with Bloomberg, saying the government issuing debt exceeding 30-years in maturity "Can absolutely make sense."
"The dollar is moving in tandem with Treasury yields, which saw its benchmark rise above the 2.3 percent threshold with Mnuchin seemingly very enthusiastic about issuing so-called ultra long-term bonds," said Yukio Ishizaki, senior currency strategist at Daiwa Securities.
The jump in U.S. debt yields helped the dollar brush off negative pressure from downbeat data.
The euro traded at 122.00 yen after touching a 1-1/2-month high of 122.150.
The Australian dollar was a shade higher at $0.7532, drawing support from a bounce in iron ore prices.
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