Dollar Struggles as FX Markets Uneasy About Seven-Year High Short Bets
Top Headlines
Dollar Struggles as FX Markets Uneasy About Seven-Year High Short Bets – Reuters
The dollar held steady within established trading ranges as investors who have recently bet heavily against the greenback digested the implications of weekend strikes on Syria by United States and its allies. Read More
Hong Kong and Singapore Step Into Currency Markets
Top Headlines
Hong Kong and Singapore Step Into Currency Markets – Financial Times (subscription)
Hong Kong has begun buying its currency in a rare move that will increase interest rates and add to pressure on its property market, while Singapore has also tightened its monetary policy for the first time in six years.
Sterling Hits Firmest Level vs Trade-Weighted Currencies Since Brexit Vote
Top Headlines
Sterling Hits Firmest Level vs Trade-Weighted Currencies Since Brexit Vote – Reuters
Sterling has hit its firmest level against a trade-weighted basket of currencies since shortly after Britain voted to leave the European Union in June, 2016, data showed as the pound enjoys broad-based gains. Read More
China’s Xi Renews Vow to Open Economy, Cut Tariffs as US Trade Row Deepens
China’s Xi Renews Vow to Open Economy, Cut Tariffs as US Trade Row Deepens – Reuters
Chinese President Xi Jinping promised to open the country’s economy further and lower import tariffs on products like cars, in a speech seen as an attempt to defuse an escalating trade dispute with the United States.
Ruble Hobbled for Second Day as Syria Woes Add to Sanctions Risk
Top Headlines
Ruble Hobbled for Second Day as Syria Woes Add to Sanctions Risk – Bloomberg
Russia’s currency plunged to the weakest level since December 2016 and the government canceled a bond auction as the toughest US sanctions yet combined with an escalation in tensions over Syria to rattle investor sentiment.
China Should Invest in Assets Other Than Treasuries
China Should Invest in Assets Other Than Treasuries – Reuters
China should make better use of the country’s funds by looking to invest its large capital reserves in real assets, not United States Treasury bonds, an adviser to China’s central bank said on Monday.
Offshore Renminbi Heads for Worst Week in Five Months on Trade Tensions
Top Headlines
The offshore renminbi has suffered its worst week since last October as the escalating US-China trade war continues to weigh on investor sentiment. Read More
Sterling Slips After UK Service Sector Growth Slows
Top Headlines
Sterling Slips After UK Service Sector Growth Slows – Reuters
Sterling slipped further against the dollar and the euro after a major survey showed British services growing at its slowest rate since just after the vote to exit the European Union in June 2016. Read More
Currency Markets Keep Wary Eye on Trade Troubles
Top Headlines
Currency Markets Keep Wary Eye on Trade Troubles – Reuters
Foreign exchange markets trod water, with investors seemingly unable to make up their minds about any wider fallout from a Sino-US trade dispute, though the safe-haven Japanese yen gained versus the dollar.
Dollar Extends Last Year’s Slide Into 2018
Top Headlines
Dollar Extends Last Year’s Slide Into 2018 – Wall Street Journal (subscription)
The US currency posted its fifth straight quarterly loss in the first three months of the year, puzzling investors who bet it would benefit from corporations repatriating cash in the wake of tax cuts signed into law late last year.