The dollar fell broadly on Wednesday, with its biggest decline against the yen since March 2020, following a cooler-than-expected inflation report for July that raised expectations of a less aggressive rate hike cycle than previously anticipated from the U.S. Federal Reserve.
South Africa's rand jumped 2% while
currencies of Brazil and Mexico rallied more than 1% on
Wednesday after word that U.S. inflation rose less that expected
in July, easing bets that the Federal ...
* Cooler-than-expected U.S. inflation in July. * Sterling is one of worst G10 performers in 2022. * Energy crisis in focus. * UK GDP figure due on Friday. By Joice Alves. Sterling jumped against the dollar after lower-than-expected U.S. inflation print for July dampened expectations for a 75 basis-point Federal Reserve rate hike in September.
The Canadian dollar jumped to
its highest level in nearly one week against its broadly weaker
U.S. counterpart on Wednesday as investors cheered data showing
an easing of U.S. inflation pressures.
The dollar fell more than 1 percent on Wednesday following a cooler-than-expected inflation report for July that raised expectations of a less aggressive rate hike cycle than previously anticipated from the U.S. Federal Reserve.
* Sterling is one of worst G10 performers in 2022. * Energy crisis in focus. * UK GDP figure due on Friday. * Cables prepares for U.S. inflation test. By Joice Alves. Sterling slid to its lowest level against the euro in two weeks on Wednesday as investors turned their focus to the energy crisis hitting economic growth prospects in Britain.
The dollar edged lower on
Wednesday, ahead of U.S. inflation data which markets will
scrutinise for guidance on how steeply the U.S. Federal Reserve
will raise interest rates.
The figures were ...
* Europe's STOXX and U.S. futures edge up slightly. * Markets await U.S. CPI report at 1230 GMT. * Economists expect 8.7% U.S. inflation -Reuters poll. By Lawrence White. Stocks and bonds steadied on Wednesday, while the dollar edged lower ahead of U.S. inflation data that could give clues to the Federal Reserve's appetite for more aggressive rate rises.
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