Foreign Exchange News

By Tamora Vidaillet and Eadie Chen BEIJING (Reuters) - Chinese President Hu Jintao's planned visit to the United States next month is not determining the quickening appreciation of the yuan, Wu Xiaoling, a deputy governor of the People's Bank of China, said on Saturday. Asked by Reuters on the sidelines of a financial forum whether China would let the yuan (CNY=CFXS: Quote, Profile, Research) r ...

The dollar extended losses against its major rivals Friday, touching a fresh seven-week low versus the euro and a two-week low against the yen, as investors pared back expectations for an aggressive rise in U.S. interest rates. Fresh economic data on consumer sentiment, industrial output and capacity utilization, which all came in below expectations, further weighed on the U.S. currency. "Ob ...

The dollar extended losses against its major rivals Friday, touching a fresh seven-week low versus the euro and a two-week low against the yen, as investors pared back expectations for an aggressive rise in U.S. interest rates. Fresh economic data on consumer sentiment, industrial output and capacity utilization, which all came in below expectations, further weighed on the U.S. currency. "Ob ...

The dollar rebounded from early lows against the euro, but continued lower versus the yen Friday, with investors adjusting dollar-bearish positions ahead of the weekend. The greenback recovered from a seven-week low against the euro hit earlier in a continued reaction to a benign consumer inflation report released Thursday. It also reclaimed some early losses against the yen, but remained lo ...

The US dollar fell to a seven-week low against the euro in European morning trade on Friday as the market continued to backtrack on forecasts for further US rate rises in the wake of Thursday’s soft inflation data. // Thursday’s data, which indicated core US prices rose just 0.1 per cent in February, half the expected rate, capped a run of soft data releases. With a number of economic forecaste ...

The dollar slumped on Thursday after benign inflation data eased fears of Federal Reserve hawkishness on US interest rates. // The headline consumer price index rose 0.1 per cent in February, as expected, from 0.7 per cent in the previous month. Stripping out volatile food and energy costs, core CPI also rose 0.1 per cent, lower than the estimated 0.2 per cent. “The Fed will find nothing in this report to worry them,” said Rob Carnell, economist at ING Financial Markets. Paul Ashworth at Capi ...

The dollar moved broadly lower Thursday after a Labor Department report showed U.S. core consumer price inflation remains benign, reducing expectations for further Federal Reserve interest rate hikes. The consumer price index rose 0.1% in February, as falling prices for energy, food and clothing offset higher prices for medical care, shelter and air fares. The increase matched Wall Street's exp ...

The dollar weakened early Wednesday after a Treasury report showed capital inflows failed to cover the record trade deficit of the corresponding month. "The number is not good for the dollar," said Ashraf Laidi, chief currency analyst at MG Financial Group, noting that it is the second month that capital flows are lower than the deficit. "There is increased difficulty for the U.S. to finance it ...

Sterling and the US dollar both drifted lower on Wednesday as soft data gave the market reasons to offload both currencies. // Sterling’s wobble was driven by the news that the UK’s jobless tally rose at its fastest pace for 13 years in February, reviving talk of a possible interest rate cut. Claimant count unemployment rose by 14,600 in February, well ahead of the expected 3,000 rise and the sharpest increase since 1992. More importantly still for the forex market, average earnings growth re ...

By Alan Raybould SINGAPORE (Reuters) - Asian stocks rose on Wednesday after an influential consultancy said U.S. interest rates might not go as high as financial markets thought, while the dollar steadied after falling sharply on the rate outlook. Oil was slightly lower after a two-day, 5 percent rally caused by concern about U.S. gasoline supplies. U.S. crude for April delivery (CLc1: Quote, Pr ...