The U.S. dollar dipped to 16-week lows against a basket of major currencies on Thursday after data showed that U.S. consumer spending increased solidly in October, while inflation moderated, adding to expectations that the Federal Reserve is closer to reaching a peak in interest rates.
The dollar tumbled to a three-month low versus the yen on Thursday as traders keyed on comments by Federal Reserve Chair Jerome Powell that interest rate hikes could be scaled back "as soon as December."
Wall Street equities closed sharply higher on Wednesday while U.S. Treasury yields declined and the dollar sank after Federal Reserve Chair Jerome Powell said the central bank could slow the pace of interest rate hikes "as soon as December," even as he cautioned that inflation was still too high.
Most Latin American currencies and
stock indexes jumped on Wednesday as commodity prices rose and
dollar slid after the Federal Reserve chair Jerome Powell
signaled slower pace of interest-rate hikes ...
* Canadian dollar strengthens 1% against the greenback. * Trades in a range of 1.3437 to 1.3593. * Price of U.S. oil settles 3% higher. * Canadian bond yields ease across much of curve. By Fergal Smith.
* Graphic: Global asset performance http://tmsnrt.rs/2yaDPgn. * Graphic: World FX rates http://tmsnrt.rs/2egbfVh. By Sinéad Carew and Dhara Ranasinghe.
The dollar dipped on Wednesday after Federal Reserve Chairman Jerome
Powell said that the U.S. central bank could scale back the pace of its interest rate hikes "as soon as
December.
* Graphic: Global asset performance http://tmsnrt.rs/2yaDPgn. * Graphic: World FX rates http://tmsnrt.rs/2egbfVh. By Sinéad Carew and Dhara Ranasinghe. After rallies in overseas markets led by hopes for a China reopening, Wall Street equities were going in the opposite direction on Wednesday as investors were cautious ahead of an appearance by U.S. Federal Reserve chief Jerome Powell.
The Chilean peso rose on Wednesday
after the top copper producer reported its first rise in output
for the metal since July 2021, while Latin American stocks and
currencies lagged the sharp recovery ...
The dollar slipped on
Wednesday as an estimate of jobs gains in November missed
expectations before a highly anticipated speech by Federal
Reserve Chairman Jerome Powell.
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