The U.S. dollar weakened broadly on Monday, hitting a more than one-week low against the safe-haven yen, Swiss franc and euro as markets digested a surprise downgrade of the U.S. government’s credit rating, while trade tensions also weighed. U.S. Treasury Secretary Scott Bessent said in television...
https://www.hellenicshippingnews.com/dollar-retreats-on-us-ratings-downgrade-trade-tensions-persist/
Typically, most G7 or G20 meetings of politicians and key officials result in a communique explaining what has been agreed. On some occasions, indeed, many occasions, the lack of agreement can limit what gets included in the communique. However, one would expect any communique from a meeting of...
https://www.hellenicshippingnews.com/g7-fx-language-shift-could-rattle-the-dollar/
The dollar rose on Friday after the latest round of economic data showed a jump in import prices while consumer sentiment remained subdued, putting it on pace for a fourth straight weekly advance. The Labor Department said import prices gained 0.1% last month after dropping 0.4% in March as a jump...
Goldman Sachs President John Waldron said a recent lightening up of U.S. dollar assets by investors had shown them returning to more neutral positions on the currency, rather than a wholesale “run for the gates.” Financial markets have witnessed a roller-coaster ride in the initial few months of...
EUR/PLN: Trade wars and MPC pivot hit PLN, but only slightly In April, the Polish zloty retreated from its strongest levels since 2018 vs the euro as US tariffs caused a risk-off mode. EUR/PLN briefly jumped from 4.16 to 4.30 as the Monetary Policy Council unexpectedly made a dovish pivot. Since...
https://www.hellenicshippingnews.com/emea-fx-talking-local-challenges/
USD/CNY: CNY outlook to improve post-tariff de-escalation USD/CNY fell from the 7.35 high in April to as low as 7.21 over the past month. Tariff developments and PBoC policy were the main catalysts. We expect the China-US trade war de-escalation will help the yuan recover, after underperforming for...
https://www.hellenicshippingnews.com/asia-fx-talking-excessive-renminbi-strength-unwelcome/
Some of the world’s major currencies will try to compete with the dollar on the global stage and could even attract some investor flows but the dollar will stay the world’s key currency for some time to come, Dutch central bank chief Klaas Knot said. Some investors have reduced their exposure to...
The U.S. dollar extended losses on Wednesday following its biggest decline in more than three weeks overnight after weaker-than-expected U.S. consumer inflation data bolstered the case for Federal Reserve easing just as global trade tensions cool. U.S. data showed the consumer price index increased...
https://www.hellenicshippingnews.com/dollar-extends-losses-koreas-won-in-focus/
Global asset managers held their biggest underweight position in the dollar in 19 years in May, as President Donald Trump’s chaotic trade policy cut investor appetite for U.S. assets, Bank of America’s global fund manager survey (FMS) showed on Tuesday. The United States and China have agreed to a...
Safe-haven gold fell more than 2% on Monday as risk sentiment crept in following the announcement of a temporary deal between the United States and China to reduce tariffs. Spot gold was down 2.6% at $3,237.04 an ounce, as of 1132 ET (15:32 GMT). Bullion, considered a hedge against economic and...
https://www.hellenicshippingnews.com/gold-falls-over-2-as-us-and-china-strike-tariff-deal/