Dollar Fails To Hold Early Gains, Turns Mixed Against Major Rivals

RTTNews | 1071 दिनों पहले
Dollar Fails To Hold Early Gains, Turns Mixed Against Major Rivals

(RTTNews) - After climbing higher amid rising speculation the Federal Reserve and several other central banks will aggressively hike interest rates to fight inflation, the U.S. dollar pared gains with traders turning slightly cautious.

The Fed is widely expected to announce another 75-basis point hike interest rates. CME Group's FedWatch Tool is currently indicating an 84% chance of a 75 basis points rate hike and a 16% chance of a 100 basis point rate hike.

The Bank of England meets on Thursday, with markets split on whether the central bank will raise rates by 50 or 75 basis points ahead of a mini budget to be unveiled by the new Chancellor of the Exchequer Kwasi Kwarteng on Friday.

The dollar index climbed to 110.18 in the European session, but dropped to 109.60, below the previous close of 109.76.

Against the Euro, the dollar traded at $1.0025, down from the previous close of $1.0016.

The dollar was up against the Japanese currency, fetching 143.26 yen a unit

Against Pound Sterling the dollar weakened to $1.1434, after firming to $1.1355 earlier in the day.

read more
French Consumer Sentiment Weakest Since 2023

French Consumer Sentiment Weakest Since 2023

France's consumer confidence weakened to the lowest level since October 2023 largely due to the weaker outlook for standard of living and the fall in saving intentions. The consumer sentiment index edged down to 87 in August from 88 in July. This was the lowest reading since October 2023 and remained below its long-term average of 100.
RTTNews | 1घंटे 14 मिनट पहले
Asian Shares Slip After Trump's Tariff Threats

Asian Shares Slip After Trump's Tariff Threats

Asian stocks fell on Tuesday as Fed independence fears resurfaced and investors awaited Nvidia results amid hopes it can soothe fears about AI spending.
RTTNews | 1घंटे 55 मिनट पहले
Indian Rupee Falls To More Than 4-week Low On Tariff Worries

Indian Rupee Falls To More Than 4-week Low On Tariff Worries

The Indian rupee weakened against the U.S. dollar in the Asian session on Tuesday, after the Trump administration officially issued a notice regarding the imposition of an additional 25 percent tariffs on Indian imports, with the punitive duties set to kick in at 12:01 am (EST) on August 27.
RTTNews | 2घंटे 29 मिनट पहले
Antipodean Currencies Fall Amid Risk-off Mood

Antipodean Currencies Fall Amid Risk-off Mood

The antipodean currencies such as the Australia and the New Zealand dollars weakened against their major currencies in the Asian session on Tuesday, as traders looked to cash in on the recent strong gains and remain cautious ahead of the release of key US economic data later in the week, including second quarter GDP and the US Fed's preferred readings on consumer price inflation.
RTTNews | 3घंटे 9 मिनट पहले
NZ Dollar Slides Against Majors

NZ Dollar Slides Against Majors

The New Zealand dollar weakened against other major currencies in the Asian session on Tuesday.
RTTNews | 4घंटे 17 मिनट पहले