Analysis: Currencies

Foreign investors increase dollar hedges on US stock portfolios

NEW YORK -Overseas asset managers and pensions are adding protection against a weakening dollar, concerned about the U.S. currency's diminishing ability to diversify their U.S. equity portfolios.  ...

Fed's Powell says dollar swap lines remain important tool

NEW YORK -Federal Reserve Chair Jerome Powell said Tuesday the U.S. central bank has no plans to change how it offers dollar liquidity to other official entities.  Speaking on the...

Russia launches accounts with withdrawal guarantees for foreign investors

MOSCOW -Russia has launched a new type of investment account that contains withdrawal guarantees, according to a decree signed by President Vladimir Putin on Tuesday, as Moscow looks to attract...

US construction spending falls again in May

WASHINGTON -U.S. construction spending fell in May as higher mortgage rates and rising inventory weighed on single-family housing projects.  The Commerce Department's Census Bureau...

Fed rate cut bets rise after Powell doesn't rule out July 

Financial market bets rose that the Federal Reserve could start interest-rate cuts as soon as this month after Fed Chair Jerome Powell, asked if July was too soon to consider rate cuts, said he can't...

Russia's central bank expected to cut key rate in July to 19%

MOSCOW -The Russian central bank will cut its benchmark interest rate by one percentage point to 19% at its board meeting on July 25 as inflation is expected to be within its estimated range in 2025,...

Powell reiterates Fed will wait for more data before cutting rates

SINTRA, Portugal -U.S. Federal Reserve Chair Jerome Powell on Tuesday reiterated the U.S. central bank plans to wait and learn more about the impact of tariffs on inflation before lowering interest...

Sterling firms to three-year peak, focus on welfare bill vote

Sterling neared a three-year high on Tuesday, aided by a broad dollar weakness, as uncertainty about the health of the U.S. economy continued to pressure the U.S. currency and forced investors to...

Euro zone factory orders stabilise for first time in 3 years, PMI shows

LONDON -Euro zone manufacturing activity showed further signs of recovery in June as new orders stopped falling for the first time in more than three years, suggesting a tentative stabilisation in...

Russia's factory activity in June contracts at fastest pace since March 2022

Russia's manufacturing sector contracted at its sharpest rate in more than three years in June as output, new orders and employment all slumped, a business survey showed on Tuesday. The...

Former RBNZ Acting Governor Spencer appointed to central bank's board

Former Reserve Bank of New Zealand Acting Governor Grant Spencer has been appointed to the central bank's board for a five-year term, effective July 1, Finance Minister Nicola Willis said on...

China lifts yuan midpoint, but trade weighted value falls to lowest since 2021

SHANGHAI -China lifted its official yuan midpoint to its strongest since November on Tuesday, but pressured its value versus its major trading partners to the lowest level in more than four years. ...

Dollar pares losses against euro and Swiss franc after better-than-expected US jobs data

NEW YORK -The U.S. dollar gained ground against major currencies including the yen and the Swiss franc on Tuesday after data showed a better-than-expected increase in labor market demand, indicating...

White House says Trump wrote Powell to urge lower rates

WASHINGTON -U.S. President Donald Trump wrote Fed Chair Jerome Powell urging him to lower interest rates, White House press secretary Karoline Leavitt told reporters on Monday. Leavitt,...

Trump administration eyes Fed vacancy in early 2026 to appoint Powell successor, Bessent says

The Trump administration is considering using the next expected Federal Reserve Board of Governors vacancy in early 2026 for appointing a successor to central bank Chair Jerome Powell, Treasury...

Brazil to investigate hot-rolled steel export 'dumping' from China, India

SAO PAULO -Brazil's government will launch an investigation into suspected export dumping of some hot-rolled steel products from China, India and Indonesia, its official gazette said on Monday. ...

The euro's big beautiful moment    

LONDON -What matters in U.S. and global markets today Investors are keeping a wary eye on the progress of President Donald Trump's One Big Beautiful U.S. tax-cutting and spending bill...

Currencies: Donald, a misunderstood genius?

The easing of bond yields in recent weeks, despite sometimes complex geopolitical news, is helping the US government and weighing on the dollar at the same time. That said, it would be too early to...

South African rand steady after mixed local data, investors eye US jobs figures

JOHANNESBURG -The South African rand was steady on Monday after the release of a mixed bag of domestic data by the country's central bank, revenue service agency and National Treasury, while...