Forex News

Dollar edges lower; weekly loss looms on dovish Fed

2022.11.25 03:45



© Reuters

By Peter Nurse

Investing.com – The U.S. dollar edged lower in early European trade Friday, on course to post a weekly loss on dovish signals from the Federal Reserve.

At 02:55 ET (07:55 GMT), the , which tracks the greenback against a basket of six other currencies, fell 0.1% to 105.840, down more than 1% for the week and close to its three-month low of 105.30 hit last week. 

The dollar has struggled of late as expectations of a less aggressive pace of U.S. monetary tightening as soon as next month saw U.S. Treasury yields sink to seven-week lows earlier Friday.

“The Fed minutes surprised on the dovish side, signaling strong support for slower rate hikes and weaker support for Powell’s higher-for-longer rhetoric,” said analysts at ING, in a note. “The dollar could stay pressured for a bit longer, but it’s probably embedding a good deal of Fed-related negatives now.” 

Activity is likely to be limited Friday, with traders taking advantage of Thursday’s U.S. Thanksgiving holiday to enjoy a long weekend, and attention will quickly shift to next week and the release of U.S. and data for interest rate implications.

rose 0.1% to 1.0418, approaching the four-month high of 1.0481 hit last week, helped by data showing Germany’s economy grew by a little more than initially thought in the third quarter.

expanded by 0.4%, rather than the 0.3% reported in its first reading. That left up 1.2% from a year earlier, rather than the 1.1% in the first reading. 

Additionally, market research firm GfK said posted a second straight improvement for December, while remaining close to an all-time low at -40.2.

fell 0.2% lower to 1.2087, but is still close to the three-month high of 1.2153 hit in the previous session with the pair on track for a near 2% weekly gain.

rose 0.2% to 138.81, after data showed reached a 40-year high in November, heralding more inflationary pressures for the country.

The risk-sensitive rose 0.1% to 0.6765, slipped 0.1% to 0.6257, while rose 0.1% to 7.1574 with the yuan weakening as the Chinese economy struggles with a record-high jump in daily COVID-19 cases, which saw the reintroduction of strict curbs in several major cities.

 

 

 



Source link

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 70,886.99 4.26%
ethereum
Ethereum (ETH) $ 2,467.28 2.68%
tether
Tether (USDT) $ 0.999191 0.01%
bnb
BNB (BNB) $ 572.35 3.41%
solana
Solana (SOL) $ 170.63 7.51%
usd-coin
USDC (USDC) $ 1.00 0.25%
xrp
XRP (XRP) $ 0.519124 3.08%
dogecoin
Dogecoin (DOGE) $ 0.178727 9.93%
staked-ether
Lido Staked Ether (STETH) $ 2,461.06 2.32%
tron
TRON (TRX) $ 0.161303 0.98%
cardano
Cardano (ADA) $ 0.338294 3.26%
the-open-network
Toncoin (TON) $ 4.73 0.56%
shiba-inu
Shiba Inu (SHIB) $ 0.000018 7.51%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,903.93 2.08%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 70,592.91 4.16%
avalanche-2
Avalanche (AVAX) $ 24.51 7.51%
weth
WETH (WETH) $ 2,464.20 2.50%
bitcoin-cash
Bitcoin Cash (BCH) $ 348.38 5.56%
chainlink
Chainlink (LINK) $ 10.99 6.87%
sui
Sui (SUI) $ 2.08 12.14%
polkadot
Polkadot (DOT) $ 3.92 4.31%
leo-token
LEO Token (LEO) $ 6.03 0.41%
usds
USDS (USDS) $ 0.992204 0.78%
litecoin
Litecoin (LTC) $ 66.55 1.09%
near
NEAR Protocol (NEAR) $ 3.90 6.87%
aptos
Aptos (APT) $ 8.67 6.93%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,591.79 2.51%
uniswap
Uniswap (UNI) $ 7.41 8.49%
pepe
Pepe (PEPE) $ 0.000009 11.15%
internet-computer
Internet Computer (ICP) $ 7.50 6.44%
bittensor
Bittensor (TAO) $ 475.10 12.57%
dai
Dai (DAI) $ 1.01 0.58%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.27 12.48%
monero
Monero (XMR) $ 158.22 0.83%
kaspa
Kaspa (KAS) $ 0.113309 8.35%
stellar
Stellar (XLM) $ 0.094348 3.60%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.25%
whitebit
WhiteBIT Coin (WBT) $ 19.08 1.09%
ethereum-classic
Ethereum Classic (ETC) $ 18.47 4.92%
first-digital-usd
First Digital USD (FDUSD) $ 1.02 1.55%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.30763 4.74%
blockstack
Stacks (STX) $ 1.56 6.37%
okb
OKB (OKB) $ 38.18 2.42%
dogwifcoin
dogwifhat (WIF) $ 2.19 12.11%
aave
Aave (AAVE) $ 139.31 8.12%
filecoin
Filecoin (FIL) $ 3.45 4.78%
arbitrum
Arbitrum (ARB) $ 0.499137 5.02%
crypto-com-chain
Cronos (CRO) $ 0.072721 2.72%
mantle
Mantle (MNT) $ 0.569984 3.25%
immutable-x
Immutable (IMX) $ 1.10 3.48%