01172017Tue
Last update: Tue, 17 Jan 2017 07am

Markets - FXMM

Markets - FXMM - Asia

Dollar takes breather, investors anxious about Fed rate outlook TOKYO: The dollar took a breather on Wednesday as investors waited to see if the U.S. Federal Reserve will signal any acceleration in the pace of future rate increases to deal with an expected ramp-up in fiscal spending under President-elect Donald Trump.In its policy meeting ending later in the day, the Federal Open Market Committee (FOMC) is seen as all but certain to raise its interest rate target by 0.25 percentage point to 0.50-0.75 percent. The decision will be announced at 1900 GMT.It would be just the Fed's second rate hike since the financial crisis in 2007-08, following last December's tightening."The markets think a rate hike is a certainty so the focus is on the outlook for next year. I think they will maintain their previous projections to raise rates twice next year but if they turn more hawkish, the dollar will test its upside again," said Shinichiro Kadota, chief ...


Markets - FXMM - Americas

Dollar steady as traders await clarity on Fed rate hike path NEW YORK: The US dollar was steady against a basket of major currencies on Tuesday on uncertainty over whether the US Federal Reserve would signal a slow or fast pace of interest rate increases at the end of a closely-watched policy meeting. The Fed is widely expected to hike interest rates on Wednesday. It is less clear, however, if the central bank will indicate a more cautious pace of rate increases given a recent surge ...

Markets - FXMM - Americas

C$ strengthens for fifth straight day as oil climbs TORONTO: The Canadian dollar strengthened for the fifth straight day against its US counterpart on Tuesday, posting a near eight-week high as higher oil prices offset expected monetary policy divergence between the US and Canada.US crude prices were up 0.66 percent at $53.18 a barrel, supported by strong demand in Asia and supply cuts by Abu Dhabi, Kuwait and Qatar as part of production curbs organized by the Organization of the Petroleum Exporting Countries and ...

Markets - FXMM - Europe

Sterling pares early gains as BoE meeting looms LONDON: Sterling fell late on Tuesday after surging on higher-than-expected inflation numbers and softer government rhetoric on Britain's planned departure from the European Union. Focus was shifting to US Federal Reserve and Bank of England policy statements over the next two days but traders said the pound would continue to struggle to break through resistance above $1.27 which has held for the past fortnight. Consumer prices rose 1.2 percent last month year-on-year, the Office for ...

Markets - FXMM - Europe

Sterling rises after Hammond argues for staggered Brexit LONDON: Sterling rose on Tuesday as investors awaited British inflation data for November, helped by finance minister Philip Hammond's comments supporting a staggered transition period for the country's exit from the European Union.Hammond backed the idea on Monday of a transition period to smooth the Brexit process and said EU countries also stood to gain from a gradual British withdrawal.That drove sterling as high as $1.27 overnight and it was trading 0.1 percent stronger on ...

Markets - FXMM - Europe

Dollar steadies as pre-Fed nerves dominate LONDON: The dollar steadied against the yen and euro on Tuesday after its weakest day in a week, with markets still uneasy that a Federal Reserve meeting ending on Wednesday may provoke more investors to cash in the greenback's recent gains.Barclays was the latest major bank to cast some doubt on a dollar rally extending into a first quarter set to be dominated by the first policy initiatives from the Trump administration.While investors have bet ...

Markets - FXMM - Asia

South Korea won rises, but boxed in ahead of Fed; stocks flat SEOUL: The South Korean won stepped up early on Tuesday but overall trade was thin ahead of a Federal Reserve policy meeting at which the US central bank is widely expected to hike rates for the first time this year.The won was quoted at 1,166.5 against the dollar as of 0229 GMT, up 0.15 percent from its previous close."Market players may try to test the 1,160 won line midday as the dollar's strength has quieted ...