SINGAPORE : The dollar languished near a one-month low against a basket of currencies on Thursday, after Federal Reserve Chair Jerome Powell stuck to his usual messaging at his semi-annual testimony, offering little room for surprise.Sterling was perched near a one-year high ahead of the Bank of England's
SINGAPORE : The dollar languished near a one-month low against a basket of currencies on Thursday, after Federal Reserve Chair Jerome Powell stuck to his usual messaging at his semi-annual testimony, offering little room for surprise.
That sent the greenback down nearly 0.5 per cent against a basket of six major peers in the previous session. The U.S. dollar index last stood at 102.05 in early Asia trade, not far from its recent five-week low of 102.00."Markets had priced a lot of hawkishness from Powell prior to his testimony, so his comments didn't really surprise too much on the hawkish end," said Carol Kong, a currency strategist at Commonwealth Bank of Australia .Elsewhere, sterling rose 0.
"The strong UK inflation data raised the probability of a larger hike than 25bp, a higher terminal rate and rates staying higher for longer," said economists at ANZ in a note. "Until we get the confirmation on a stimulus package, will likely remain under downward pressure because of the soft outlook for the Chinese economy and that will in turn likely be a headwind for the Aussie as well," said CBA's Kong.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Singapore currently not looking at regulating AI, says IMDA - Singapore NewsSINGAPORE: The director for trusted AI and data at Singapore’s Infocomm Media Development Authority (IMDA) said that the country is not looking at regulating AI at the moment, despite calls for AI’s risks to be evaluated. The government, in a effort to promote the responsible use of AI, had called for firms to work together …
Read more »
Dollar finds footing on housing data as yuan faltersSINGAPORE : The U.S. dollar was firm in Asia trade on Wednesday following surprisingly strong U.S. housing data, while the yuan and Aussie dollar nursed losses and focus turned to Federal Reserve Chair Jerome Powell's appearance before Congress later in the day.Single family housing starts surged 21.7 per
Read more »
Asia wary in case Powell embraces his inner hawkSYDNEY : Asian stocks struggled on Wednesday as a lack of new stimulus steps from Beijing frustrated investors, who were also wondering just how hawkish the world's most powerful central banker would be later in the session.Federal Reserve Chair Jerome Powell faces lawmakers in two days of testimony and
Read more »
Marketmind: Hawkish Powell keeps markets on defenseA look at the day ahead in Asian markets from Alden Bentley, Breaking News Editor for Finance & Markets, Americas.The week's main attraction, Fed Chair Jerome Powell's testimony before the U.S. House Financial Services Committee, came and went without rearranging the pieces on the table much.The Ja
Read more »
Dollar buoyant; yuan wobbles after China cuts lending benchmarksSINGAPORE : The U.S. dollar rose broadly on Tuesday and notched a seven-month high against the yen, while the yuan slipped after China cut two benchmark lending interest rates for the first time in 10 months.China on Tuesday lowered its one-year and five-year loan prime rates (LPR) by 10 basis points, as
Read more »
Dollar buoyant; yuan wobbles after China cuts lending benchmarksSINGAPORE: The US dollar rose broadly on Tuesday (Jun 20) and notched a seven-month high against the yen, while the yuan slipped after China cut two benchmark lending interest rates for the first time in 10 months. China on Tuesday lowered its one-year and five-year loan prime rates (LPR) by 10 basis point
Read more »