Foreign Exchange News Results

  • Hong Kong Dollar's Rally Prompts Monetary Intervention

    The Hong Kong Monetary Authority intervened to defend the local currency's peg to the U.S. dollar, selling the unit after it hit the strong end of the trading band against the greenback. The city's de facto central bank sold US $126 million of Hong Kong dollars at HK $7.75 per USD during New York trading hours, injecting liquidity into the foreign-exchange market. The move will raise the aggregate balance of the funds parked by banks in clearing accounts at the monetary authority by...

  • Euro Jumps as ECB Expands Bond-Buying Program -- Update

    The euro climbed near a three-month high against the dollar and yields on southern European debt fell as investors cheered the European Central Bank's expansion of its bond-purchase program. The euro rose 0.8% to $1.1323 after the ECB said Thursday it would increase the size of its Pandemic Emergency Purchase Program by EUR600 billion to buy as much as EUR1.35 trillion of eurozone government and corporate debt through June 2021, putting its stimulus effort in league with...

  • Euro Jumps as ECB Expands Bond-Buying Program

    The euro climbed near a three-month high against the dollar and yields on southern European debt fell as investors cheered the European Central Bank's expansion of its bond-purchase program. The euro rose 0.7% to $1.1306 after the ECB said Thursday it would increase the size of its Pandemic Emergency Purchase Program by EUR600 billion to buy up to EUR1.35 trillion of eurozone government and corporate debt through June 2021, putting its stimulus effort in league with the...

  • British Pound Climbs on Optimism Over EU Trade Talks

    The British pound rose to its highest level against the U.S. dollar in a month as investors grew more optimistic about trade negotiations between the U.K. and the European Union. Sterling strengthened 0.4% to $1.2552 Tuesday, the highest level since April 30. The currency has climbed about 2.8% over the last 5 trading sessions. Investors are betting that the fourth round of talks between the U.K. and EU this week could see a breakthrough on a trade deal before the June 30 deadline, by...

  • Dollar Slides as Investors Regain Confidence in Global Economy

    Investors have sold the dollar and begun buying riskier currencies on optimism about an economic recovery as countries emerge from coronavirus lockdowns. Dollar Index, which measures the greenback against a basket of currencies, hit its lowest level since mid-March on Monday, dropping as much as 0.5% before recovering somewhat. Currencies that tend to gain when risk appetite returns rose against the dollar, with the Australian dollar up 1% and British pound 0.3% higher.

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