Dollar towers at two-decade high on growth woes, Fed outlook

29/4/2022 4:51:00 AM

Dollar towers at two-decade high on growth woes, Fed outlook

Dollar towers at two-decade high on growth woes, Fed outlook

SINGAPORE : The dollar held firm at a 20-year high on Friday and was poised to score its best monthly gain in a decade, buoyed by bets on rising U.S. interest rates and doubts about growth in Europe and China. The latest uptick was thanks to the Bank of Japan, which sent the yen falling through 130-per

SINGAPORE : The dollar held firm at a 20-year high on Friday and was poised to score its best monthly gain in a decade, buoyed by bets on rising U.S. interest rates and doubts about growth in Europe and China.The latest uptick was thanks to the Bank of Japan, which sent the yen falling through 130-per-dollar for the first time since 2002 on Thursday when it reinforced a commitment to its super-low yield policy.

The yen was last at 130.72 per dollar after falling as low as 131.25 overnight following the BOJ's pledge to buy endless amounts of bonds daily as needed. The yen is down almost 7 per cent in April, its worst month since Nov. 2016."Even though the BOJ had shown no sign of baulking on its commitment to its yield curve control policy, the market clearly still harboured suspicions that it might," said Rabobank strategist Jane Foley.

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Dollar nears two-decade peaks as problems plague euro, yenSYDNEY : The dollar was nearing heights not seen in two decades on Thursday as the energy crisis in Europe hamstrung the euro, while the yen was undercut by expectations the Bank of Japan would stick to its super-easy policies.Measured against a basket of currencies, the dollar index had reached a five-y

Stocks extend sell-off, dollar firm on global growth fearsA global stocks sell-off extended into the Asia morning on Wednesday, as growing fears about the global economy forced investors to dump riskier assets in favour of safe havens such as the U.S. dollar and government bonds.Financial markets, already anxious about the prospects for aggressive U.S. interest

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Earnings help stocks but dollar bulls show nervesSINGAPORE : Share markets steadied on Thursday, taking comfort in technology earnings, though an energy crisis in Europe and China's lengthy lockdowns kept the mood cautious and have propelled the dollar close to 20-year highs as investors seek out safety and yield.Nasdaq 100 futures were up 1 per cent in

Dollar nears two-decade peaks as problems plague euro, yenSYDNEY : The dollar was nearing heights not seen in two decades on Thursday as the energy crisis in Europe hamstrung the euro, while the yen was undercut by expectations the Bank of Japan would stick to its super-easy policies.Measured against a basket of currencies, the dollar index had reached a five-y

LinkedIn SINGAPORE : The dollar held firm at a 20-year high on Friday and was poised to score its best monthly gain in a decade, buoyed by bets on rising U.LinkedIn SYDNEY : The dollar was nearing heights not seen in two decades on Thursday as the energy crisis in Europe hamstrung the euro, while the yen was undercut by expectations the Bank of Japan would stick to its super-easy policies.LinkedIn A global stocks sell-off extended into the Asia morning on Wednesday, as growing fears about the global economy forced investors to dump riskier assets in favour of safe havens such as the U.Copy to clipboard https://str.

S. interest rates and doubts about growth in Europe and China.28 and a further push above 103. The latest uptick was thanks to the Bank of Japan, which sent the yen falling through 130-per-dollar for the first time since 2002 on Thursday when it reinforced a commitment to its super-low yield policy. Financial markets, already anxious about the prospects for aggressive U. The yen was last at 130. The euro was pinned at $1.72 per dollar after falling as low as 131. Few would have imagined things will get out of hand to such an extent," said Mr Melvyn Xu, a private equity investor who moved to Shanghai from Hong Kong in late 2020.

25 overnight following the BOJ's pledge to buy endless amounts of bonds daily as needed.0515 on Wednesday. News of Russia cutting gas supplies to Eastern Europe added to the sombre mood, sending the MSCI world equity index slumping to a 13-month low. The yen is down almost 7 per cent in April, its worst month since Nov. 2016.6 per cent so far in April and is heading for its worst month since early 2015. "Even though the BOJ had shown no sign of baulking on its commitment to its yield curve control policy, the market clearly still harboured suspicions that it might," said Rabobank strategist Jane Foley. Tokyo’s Nikkei and Seoul's KOSPI index were also down sharply by 1. The uber-dovish decision set Japan miles apart from the Federal Reserve, where markets are priced for 150 basis points (bps) of hikes in just three meetings, and triggered a fresh rush of funds into the dollar ahead of all else.0500 down to a trough from 2017 at $1. Goldman Sachs is looking to add close to 50 jobs in Shanghai, a WeChat post showed.

The U.S. A break would take it to depths not seen since 2002 and risk a damaging decline below parity. Chinese blue chips were flat after falling to their lowest in two years on Tuesday and the Hong Kong benchmark fell 0. dollar index, which hit a two-decade high of 103.93 in the wake of the yen's tumble, was last at 103. "This appears to be the first overt act of energy warfare," warned Helima Croft, head of global commodity research at RBC Capital Markets.53 and up more than 5.73 per cent. Conversations with financial professionals in Shanghai have shown deep concerns about the lockdown measures, Mr Tan said.

3 per cent through April." Such risks could also make the European Central Bank reluctant to tighten aggressively, leaving it lagging far behind the Federal Reserve. If sustained, that would make for its best monthly gain since May 2012. Weaker-than-expected quarterly U.0 per cent by the end of the year. The move, viewed as a major escalation, sent oil and gas prices higher.S. growth data overnight proved little obstacle to the dollar's rise, and investors hardly adjusted their near-term interest rate bets.5 per cent by Christmas. Next time it might be longer and tighter.

The euro, meanwhile, dropped through $1.1 per cent, to $106.05 for the first time in five years on Thursday and was last clinging on at $1. The central bank holds a policy meeting on Thursday and is widely expected to reaffirm its yield guidance, even as it raises the outlook for inflation.0511. "Like the yen, the euro is becoming more deeply undervalued against the U.44 too be within spitting distance of its recent 20-year peak of 129.S.S. “Shanghai is a financial and industrial centre of China which operates like a machine” but almost no adjustments have been introduced to maintain its operation even after citizens posted complaints on social media, said the portfolio manager.

dollar," said MUFG Bank currency analyst Lee Hardman. One possible pot hole for the dollar will be data on U. "Market participants increasingly price in a widening divergence opening up between the performance of the euro-zone and U.54 a barrel.S. gross domestic product due later Thursday. economies and subsequently the outlook for European Central Bank and Fed policies." The euro has lost 5 per cent on the dollar in April and just over 7 per cent on the dollar since Russia's invasion of Ukraine on Feb.1 per cent, the risk is to the downside after the U.34, as did gold, which edged higher to settle at $1,903 an ounce.

24. The conflict, and especially this week's halt on Russian gas supplies to Poland and Bulgaria, has investors concerned about Europe's energy security, inflation and growth. trade deficit blew out to a record and implied a large drag from net exports. Similar fears have driven sterling to the 22-month low of $1. Analysts say markets worry that an expected streak of rate increases by the Federal Reserve could hurt growth just when many economies have started to recover from the pandemic-driven slumps.2412 it made overnight.3 per cent in the first quarter. At $1.

2481 in Asia, the British currency is down 5 per cent against the dollar in April, its worst showing since October 2016. Source: Reuters. After market close, Google’s parent Alphabet Inc reported its first quarterly revenue miss of the pandemic and was down about 3 per cent. Drawn out COVID-19 lockdowns are also putting the brakes on an already-slowing Chinese economy, which has hit the yuan as well as commodity currencies. The yuan has fallen to 18-month lows at 6.6400 per dollar and is on course for a record monthly drop of 4.28 per cent.3 per cent.

The Australian dollar made a three-month low of $0.7055 overnight before recovering to $0.S.7123 in early trade on Friday as investors think Australia's monetary tightening cycle is set to begin as soon as next week. The Aussie is down 4.8 per cent for April.772 per cent, while yields on three-month bills to 30-year bonds were all lower on the day.

The New Zealand dollar is heading for its worst month in seven years, having lost 6.4 per cent on the dollar, and was steady at $0.6498 on Friday. Bitcoin held at $39,874. .