Currency markets reacted wildly after Federal Reserve Chairman Jerome Powell calmed investors just before U.S.-China trade tensions reached another heightened plateau. Friday's currency moves again demonstrate that tariffs--the primary weapon in this modern war--are a blunt, somewhat ineffective, instrument. Maybe market participants should have been ready for volatility because Friday started out chaotically.
The U.S. dollar dropped broadly on Friday after President Donald Trump
ordered U.S. companies to start looking for an alternative to China after Beijing imposed more tariffs on
American goods, ...
* USD index weakens after Powell speech, Trump tweets. * Trump expected to announce action on China later in the day. * Crude on track for weekly decline. By Rodrigo Campos. A global stock index fell alongside oil prices and U.S. yields after U.S. President Donald Trump threatened to further escalate his trade war with China "this afternoon" after a new round of retaliation tariffs from Beijing.
It's a maxim for private investors: Don't fight the Fed. The lesson may apply to central banks in developing nations as well, according to new research presented on Friday that concluded using monetary policy to fight a currency war may ultimately lead to self-inflicted wounds.
Entertainment One is latest example of foreign purchase. PLC is up for sale. That's the message foreign buyers are receiving as they rush to scoop up U.K.-listed companies taking advantage of the slump in sterling against the U.S. dollar in the run up to the October 31 deadline for Britain's exit from the European Union.
The dollar slipped from three-week highs against the euro and one-week
peaks versus the yen on Friday after Federal Reserve Chair Jerome Powell set the stage for further
interest rate cuts, leaning ...
Latin American currencies weakened
against the U.S. dollar on Friday after China imposed
retaliatory tariffs on U.S. goods, renewing fears of a global
slowdown, while the Mexican peso dropped to near ...
The Canadian dollar weakened
against its U.S. counterpart on Friday, adding to the previous
session's losses, as escalating trade tensions reduced global
risk appetite and investors awaited a ...
The dollar rose to a three-week high against the euro and a one-week peak
versus the yen on Friday ahead of a speech from Federal Reserve Chair Jerome Powell, with investors
expecting him to express ...
* Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh. World stock markets and the dollar rose on Friday as investors looked to a speech by Federal Reserve chair Jerome Powell for clarification on whether the U.S. central bank remains on course to deliver another interest rate cut in next month.
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