By Saqib Iqbal Ahmed. The dollar crept higher across the board on Friday in a quiet session following the U.S. Thanksgiving holiday, but remained near multi-month lows as the prospect of the Federal Reserve moderating the pace of its policy tightening weighed on the U.S. currency.
* Canadian dollar weakens 0.4% against the greenback. * Trades in a range of 1.3318 to 1.3395. * Canadian bond yields rise across curve. The Canadian dollar weakened against its U.S. counterpart on Friday, with the currency giving back its gains from earlier in the week as global bond yields rebounded and investors eyed Black Friday sales for clues on the health of the U.S. economy.
* Dollar rebounds, up 0.5% vs yen, but heading for weekly losses. * STOXX heading for first six-week streak of gains in a year. * Covid worries weigh on HK stocks. * Oil up, gold slightly down. By Alun John.
Following the appointment of Anwar Ibrahim as Malaysia's new prime minister, the Ringgit jumped for the second day in a row by as much as 0.9% against the dollar, making it the best-performing currency in Asia, according to a Bloomberg report. However, the stock benchmark index fell much as 1.3% on profit-taking after the market added about $19 billion in value on Thursday, the report said.
Emerging market stocks fell on Friday on mounting worries about economic growth, while China's yuan hit session lows after the central bank cut a key rate, freeing up about $70 billion for banks as it seeks to stimulate a slowing economy.
The U.S. dollar edged up on Friday but stayed near a three-month low and on track for a weekly loss as the prospect of the Federal Reserve slowing monetary policy tightening as soon as December preoccupied investors.
* Dollar heads for weekly drop. * Silver, platinum bound for weekly gains. By Kavya Guduru. Gold prices eased on Friday as the U.S. dollar regained some ground, but expectations of less aggressive interest rate hikes from the Federal Reserve set bullion up for a small weekly gain. Spot gold was down 0.1% at $1,753.06 per ounce by 1044 GMT, coming off a one-week high hit earlier in the session.
Central European currencies
were hovering close to recent levels in thin trade on Friday as
investors eyed a weakening dollar and worries over European
Union funding in Hungary in a market that ...
The U.S. dollar hovered near a three-month low on Friday and was headed for a weekly loss, as the prospect of the Federal Reserve slowing monetary policy tightening as soon as December preoccupied investors. The euro edged up after the GfK institute survey showed German consumer sentiment is expected to stabilise next month with the help of energy measures.
Prices of copper edged up on Friday, supported by a weaker U.S. dollar, though they were set to end the week little changed as investors weighed up tight market fundamentals against China's COVID-19 outbreaks. Three-month copper on the London Metal Exchange was up 0.4% at $8,075 a tonne by 0728 GMT, and barely changed from the $8,036-a-tonne closing price last Friday.
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