Dollar Strengthens as Trade War Fears Fade, Risk Appetite Returns
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Dollar Strengthens as Trade War Fears Fade, Risk Appetite Returns – Reuters
The Chinese yuan rebounded and the dollar strengthened broadly as investors bought riskier assets, encouraged by signs that trade tensions have yet to hurt economic momentum.
Sterling Rallies as Investors Bet ‘Softer Brexit’ More Likely After Resignation
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Sterling Rallies as Investors Bet ‘Softer Brexit’ More Likely After Resignation – Reuters
Sterling rallied as traders bet that the resignation of Britain’s Brexit minister would not endanger the prime minister and instead focused on the government’s newly-announced plan that markets believe makes a “soft Brexit” more likely.
Dollar Falls as US Tariffs Kick In; US Jobs Data Eyed
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Dollar Falls as US Tariffs Kick In; US Jobs Data Eyed – Reuters
The dollar fell as US tariffs on Chinese imports took effect, but a muted reaction in currency markets suggested the escalation had largely been priced in by investors focussing on a US jobs report due later in the day.
Strong German Industry Data Pushes Euro to Near Three-Week High
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Strong German Industry Data Pushes Euro to Near Three-Week High – Reuters
The euro climbed half a percent to near three-week highs following strong German data, though gains were capped before the release of Fed minutes later in the day. Read More
Sterling Rises as UK Services Data Builds Case for Rate Hike
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Sterling Rises as UK Services Data Builds Case for Rate Hike – Reuters
The pound rose after a survey showing Britain’s dominant services industry gained momentum last month fuelled expectations of a Bank of England interest rate hike this summer. Read More
Renminbi Slips to 11-Month Low as Pressure Persists
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Renminbi Slips to 11-Month Low as Pressure Persists – Financial Times (subscription)
China’s renminbi pushed past the Rmb6.7 per dollar mark for the first time in nearly eleven months as downward pressure seen during a record monthly drop in June showed no sign of dissipating in July.
Trade Jitters Spark Broad Gains for the US Dollar
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Trade Jitters Spark Broad Gains for the US Dollar – Financial Times (subscription)
The US dollar climbed against a broad swath of developed and emerging market currencies amid mounting concerns over global trade.
Global FXC Names Leadership Team, Reports on Progress
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Global FXC Names Leadership Team, Reports on Progress – Profit & Loss
The Global Foreign Exchange Committee (GFXC) has named Simon Potter executive vice president of the Federal Reserve Bank of New York, as chair for a one-year term. Read More
Carney Sounds the Brexit Alarm Again
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Carney Sounds the Brexit Alarm Again – Bloomberg
Mark Carney warned that time is running out to remove the threat that Brexit poses to trillions of pounds of derivative contracts, stepping up pressure on the European Union to act.
Dollar Rebounds as Trade Worries Hurt High-Yielding Currencies
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Dollar Rebounds as Trade Worries Hurt High-Yielding Currencies – Reuters
The dollar rose across the board, as lingering global trade tensions prompted traders to ditch most high-yielding currencies and investors focused on expectations the Federal Reserve will continue to raise interest rates.