Most Asian currencies fell on Wednesday, while the dollar steadied from recent losses as markets hunkered down before more cues on monetary policy from Federal Reserve Chair Jerome Powell later in the day. Powell is set to testify before Congress later in the day, potentially offering more cues on the path of U.S. interest rates after somewhat […]
The euro held its ground as the world’s second most-used currency for trade, finance and reserve-building last year even as Russia slashed its reliance on it after being hit by sanctions, a European Central Bank report showed on Wednesday. The dominance of the U.S. dollar and the euro – which comes a distant second – […]
Federal Reserve Chair Jerome Powell said on Wednesday he expects the U.S. dollar to remain the world’s reserve currency as long as democratic institutions and the rule of law remain in place in the U.S. “The status of the dollar as the world’s reserve currency is a very important thing to us,” Powell told the […]
Most Asian currencies kept to a tight range on Thursday as investors digested mixed signals on U.S. monetary policy, while a market holiday in China kept trading volumes limited. Federal Reserve Chair Jerome Powell reiterated the bank’s hawkish stance when testifying before the House Financial Services Committee of Congress on Wednesday, although he did not […]
The U.S. dollar stabilized in early European trade Thursday near a one-month low after the first day of Federal Reserve Chair Jerome Powell’s semi-annual testimony to Congress, while sterling edges lower ahead of the latest Bank of England meeting. At 01:50 ET (05:50 GMT), the Dollar Index, which tracks the greenback against a basket of six […]
Japan’s top government spokesperson said on Thursday that volatile moves in the currency markets were undesirable and that authorities were closely watching the market and ready to take “appropriate” action as needed. “It is important for foreign exchange markets to move in a stable manner reflecting fundamentals, and excessive changes are undesirable,” Chief Cabinet Secretary […]
