Tag Archives: Dollar

The dollar fell on Wednesday before the Federal Reserve is expected to hike rates for possibly the last time this cycle, which could lead to further dollar declines. Investors are concerned that continued rate hikes will weigh on the economy, and fed funds futures traders are pricing in rate cuts …

Iraq’s Prime Minister Mohammad Shia al-Sudani on Tuesday said that his government’s program includes “clear-cut and serious” solutions for the currency crisis in the country. Al-Sudani’s remarks came during a meeting with the head of al-Wataniya Coalition, Ayad Allawi, in Baghdad earlier today. According to a readout by his bureau, …

Sterling gained in volatile trading on Thursday, as the U.S. dollar fell against some currencies, with investors taking comfort from the Bank of England’s purchase of long-dated bonds to stabilize the market. The pound rose 1.4% to $1.1034. After hitting a fresh 37-year low of $1.0327 three days ago, sterling …

Bitcoin fell to its lowest level since July 2021 on Monday as slumping equity markets continued to hurt cryptocurrencies, which are currently trading in line with so-called riskier assets like tech stocks. Bitcoin dropped to as low as $32,763.16 shortly before 1100 GMT, in its fifth consecutive session of falling. …

The Russian ruble briefly reached its highest level against the dollar since March 2020 on Thursday, supported by capital controls, while stock indexes also climbed as the market watched developments around possible new sanctions against Moscow. The volatile currency hit a high of 65.31 per dollar in early trading on …

The Russian rouble strengthened on Monday, firming past 77 against the euro to a near two-year high, helped by tax payments that companies are due to make this week and as the market looked ahead to a central bank rate decision on Friday. By 1453 GMT, the rouble had gained …

President Tayyip Erdogan said he had lowered Turkey’s inflation to around 4% before and that he will achieve that again soon as annual price rises exceeded 21% due to his push for aggressive monetary easing that has sent the lira crashing. Erdogan has said the new policy based on low-interest …

The Turkish stock exchange suspended trading after the national currency fell below 17 lira per US dollar on Friday. The lira has lost more than half of its value against the US dollar since the beginning of 2021.

Turkish President Tayyip Erdogan has ordered an investigation into possible currency manipulation after the lira fell sharply to record lows against the dollar this week, the Anadolu news agency reported on Saturday. It said Erdogan had tasked the State Supervisory Council, an auditing agency that reports to the presidency, to …

Turkey’s lira sank to a new all-time low beyond 9.3 versus the dollar on Monday and analysts saw little reprieve ahead given what one called expectations of an “irrational” interest rate cut later this week. The worst performer in emerging markets this year, the Turkish currency touched a low of …

Turkey’s lira touched new lows against the dollar and euro on Friday, hamstrung by worries over more interest rate cuts despite high inflation, after President Tayyip Erdogan dismissed three central bank policymakers. Two of the three monetary policy committee (MPC) members ousted on Thursday were seen to oppose the bank’s …

The Central Bank of Iraq confirmed that the dollar exchange rate is stable and will remain unchanged. The Central Bank said in a statement that the price set at the end of 2020 for the dollar exchange rate was based on in-depth studies of the requirements of the economic and …

The dollar fell against most of its peers on Thursday amid fading hopes for a compromise between Republicans and Democrats over additional stimulus for the US economy.  The Australian dollar rose after better-than-expected jobs data eased concerns about a persistent coronavirus outbreak in the country’s second-largest city. The greenback was …

A sharp escalation in tensions with the United States has stoked fears in China of a deepening financial war that could result in it being shut out of the global dollar system – a devastating prospect once considered far-fetched but now not impossible. Chinese officials and economists have in recent …

The dollar fell from a one-week high on Wednesday, as political squabbling over a stimulus package for the U.S. economy halted its recent rebound. The greenback, however, rose to a three-week peak against the yen, climbing for a fourth straight session. The dollar/yen pair typically moves in tandem with U.S. …

The dollar paused on Wednesday after two straight days of losses, as money markets tempered hopes of a rapid global economic recovery from the coronavirus pandemic. The U.S. currency was broadly flat against a basket of currencies, after earlier gains of 0.3%, as risk sentiment soured in trading in Europe. …

While the coronavirus pandemic may become the last nail in the coffin of the US dollar’s status as the primary reserve currency, the seeds of its inevitable decline were sown long ago, a former Morgan Stanley economist believes. The greenback is set to decline due to a shortfall in domestic …

Turkey’s lira briefly fell to a record low against the U.S. dollar on Thursday as investors fretted about depleted currency reserves and the need for foreign financing as the coronavirus pandemic drains the economy. Thursday’s fall to near 7.27 pushed it beyond the record low hit during a 2018 currency …

US stocks plunged on Wednesday, with the Dow Jones Industrial Average falling more than 450 points, as investors were spooked by the latest signals from the bond market that pointed to a heightened risk of a recession. US Treasury yields took another dramatic drop and the premium on three-month bill …

US Sen. Bernie Sanders will unveil a policy proposal that would eliminate all $1.6 trillion worth of American student debt. The 2020 hopeful is set to announce the bill in the House on Monday together with Reps. Ilhan Omar (D-Minn.) and Pramila Jayapal (D-Wash.), co-chair of the Congressional Progressive Caucus, …