The dollar rebounded slightly from a 14-month low as Treasury yields rose while markets awaited this week’s Federal Reserve meeting and kept a wary eye on Capitol Hill meetings that involve members of the Trump administration.
- Dollar Falls to 13-Month Lows as Market Looks to Fed – Reuters
- Dollar Soft with Fed, US Politics in Focus – Wall Street Journal (subscription)
So far today, the dollar index, which tracks the currency against a basket of peers, has nudged to fresh lows at 93.81 – its lowest point since June last year.
Sterling steadied just above $1.30, unable to break out against a broadly weaker dollar as worries over Brexit and the pace of UK economic growth swirl.
The euro edged back from a two-year high against the dollar although its recent appreciation helped keep continental European stock markets under pressure.
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MEPs pressured the US to preserve the Dodd-Frank Act provision to deal with the failure of big banks.
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CME Group will introduce implied functionality on six FX futures contracts and all SD calendar spreads to help increase liquidity in the contracts.
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An Australian brokerage said it was concerned for the safety of three of its staff at its Shanghai office who are continuing to be held hostage by irate investors who lost money on foreign exchange deals.
Canada’s dollar has strengthened to a fresh two-year high against the greenback, highlighting disparity between tighter monetary policy cycle in Canada and political jitters in the neighbouring US.
Emerging markets stocks and some currencies softened a touch as a tepid dollar and higher oil and commodity prices held back risk appetite in the run up to a meeting of US Federal Reserve policy makers.
The zloty steadied following recent jitters prompted by political wrangling over reforms which increase Poland’s right-wing government’s influence over the judiciary.