FOREX-Dollar at one-month trough as traders see global rates rising - Reuters

    * Dollar index touches one-month low of 93.483
    * Sterling, Aussie, kiwi rise modestly but hold below peaks
    * Inflation and GDP data and cenbank meetings eyed this week

    By Tom Westbrook
    SINGAPORE, Oct 25 (Reuters) - The dollar slipped on Monday,
as traders weighed the prospect of inflation hastening the pace
of rate hikes outside the United States, with a wary eye on
commodity prices, U.S. growth data and central bank meetings
ahead in Europe, Japan and Canada.
    The dip pulled the dollar index to a one-month low
and extends softness after Federal Reserve Chair Jerome Powell
said on Friday it not yet time to begin raising interest rates.
    The greenback fell about 0.2% against the Australian and New
Zealand dollars and about 0.1% to $1.1659 per euro.
The dollar index edged down as far as 0.2% to 93.483. The yen,
which leapt on Friday, eased slightly to 113.63 per dollar.
    Powell's remarks came as investors have priced in Fed rate
hikes starting in the second half of next year and yet
have begun to trim long dollar positions in anticipation that
other central banks could get moving even sooner.
    The Antipodeans, along with sterling, have bounded ahead
this month as traders scrambled to price in higher rates while
inflation runs hot, with markets now eyeing a near 60% chance of
a Bank of England hike next week.
    Sterling was up 0.2% at $1.3781, though it and the
Aussie and kiwi are still below highs scaled last week and
analysts have begun to think they are losing momentum.
    The Aussie was last at $0.7482 after rising above
$0.75 for the first time since July last week and the kiwi
 bought $0.7161 after trading as high as $0.7219 last
week.
    "Dollar risks remain skewed to the upside," said Kim Mundy,
a currency analyst at the Commonwealth Bank of Australia in
Sydney.
    "(Fed) members are slowly conceding that inflation risks are
skewed to the upside (and) the upshot is that interest rate
markets can continue to price a more aggressive Fed Funds rate
hike cycle which can support the dollar."
    
    TESTS AHEAD
    This week, Australian inflation data due on Wednesday is
likely to set the tone for the next stage in a tussle between
traders and a resolutely dovish central bank.
    Soaring housing costs and rising food and fuel prices have
tapering in the frame when Canada's central bank meets on
Wednesday. Oil hit a fresh three-year high on Monday and the
Canadian dollar rose 0.2% to C$1.2345 per dollar.
    In the United States, Thursday's gross domestic product
figures show an expected slowdown could take some pressure from
the Fed, even while inflation runs quite hot.
    Neither the Bank of Japan nor the European Central Bank are
expected to adjust policy when they meet on Thursday, but in
Europe market gauges of projected inflation are increasingly at
odds with the bank's guidance.
    "President (Christine) Lagarde seems likely to push back on
market agitation over an early rate rise," said Westpac
strategist Sean Callow.
    "Supporting her stance, this week's October Eurozone CPI
data is expected to show inflation comfortably close to target
at 1.9% (year-on-year)," he said.
    In the background, traders have an eye on trouble at
indebted developer China Evergrande Group, which
surprised investors by averting default with a last-minute
coupon payment last week.
    China's yuan held just shy of a five-month peak
at 6.3825 per dollar. Cryptocurrencies were steady below the
heights reached last week, with bitcoin up 2% at
$62,000.
    The Turkish lira fell to a new record low in the
wake of a surprise rate cut last week and after President Tayyip
Erdogan ordered the expulsion of Western diplomats who had
called for the release of an imprisoned philanthropist.

    ========================================================
    Currency bid prices at 0524 GMT
 Description      RIC         Last           U.S. Close  Pct Change     YTD Pct     High Bid    Low Bid
                                              Previous                   Change                 
                                              Session                                           
 Euro/Dollar                  $1.1658        $1.1646     +0.11%         -4.58%      +1.1666     +1.1626
 Dollar/Yen                   113.6300       113.4900    +0.14%         +10.03%     +113.8200   +113.5750
 Euro/Yen         <EURJPY=EB  132.46         132.17      +0.22%         +4.36%      +132.6000   +132.1200
                  S>                                                                            
 Dollar/Swiss                 0.9154         0.9162      -0.10%         +3.46%      +0.9171     +0.9150
 Sterling/Dollar              1.3780         1.3756      +0.18%         +0.86%      +1.3784     +1.3752
 Dollar/Canadian              1.2348         1.2368      -0.19%         -3.05%      +1.2379     +1.2344
 Aussie/Dollar                0.7486         0.7470      +0.22%         -2.68%      +0.7488     +0.7465
 NZ                           0.7165         0.7150      +0.24%         -0.19%      +0.7167     +0.7148
 Dollar/Dollar All spots
Tokyo spots
Europe spots 
Volatilities 
Tokyo Forex market info from BOJ

    
 (Reporting by Tom Westbrook; Editing by Sam Holmes)
  

Adblock test (Why?)

https://www.reuters.com/article/global-forex/forex-dollar-at-one-month-trough-as-traders-see-global-rates-rising-idUSL1N2RL0A9

2021-10-25 05:46:00Z
CBMifmh0dHBzOi8vd3d3LnJldXRlcnMuY29tL2FydGljbGUvZ2xvYmFsLWZvcmV4L2ZvcmV4LWRvbGxhci1hdC1vbmUtbW9udGgtdHJvdWdoLWFzLXRyYWRlcnMtc2VlLWdsb2JhbC1yYXRlcy1yaXNpbmctaWRVU0wxTjJSTDBBOdIBNGh0dHBzOi8vbW9iaWxlLnJldXRlcnMuY29tL2FydGljbGUvYW1wL2lkVVNMMU4yUkwwQTk

Bagikan Berita Ini