Wednesday, November 21, 2018 11:30:50 AM - Markets open
VN-INDEX 913.76 -5.26/-0.57%
HNX-INDEX 103.47 -0.44/-0.42%
UPCOM-INDEX 51.70 -0.36/-0.69%
Dollar poised for weekly losses after Fed disappoints bulls
Source: Reuters - 3/17/2017 9:53:50 AM
 (0 ratings. You must sign in to rate.)
The dollar licked its wounds in Asian trading on Friday, wallowing at five-week lows against a currency basket and on track for weekly losses after the U.S. Federal Reserve signaled fewer interest rate hikes than some investors had expected.

Although the U.S. central bank delivered an interest rate increase on Wednesday as widely expected, it did not alter its original forecast for two more rate increases this year. That disappointed dollar bulls who had hoped for hints of a possible fourth hike in 2017.

The dollar index .DXY, which gauges the greenback against a basket of six major rivals, edged down 0.1 percent to 100.25, plumbing its lowest level since Feb. 9 and down 1 percent for the week.

Against the yen, the dollar was flat on the day at 113.35 JPY=, down 1.3 percent for the week ahead of a Tokyo public holiday on Monday.

The yen gained despite sharply diverging monetary policy expectations. On Thursday, the Bank of Japan held its policy steady as expected and maintained a pledge to cap long-term interest rates around zero.

BOJ Governor Haruhiko Kuroda said an uptick in inflation toward 1 percent won't immediately trigger an interest rate hike, signaling that Japan will stick to its ultra-easy policy even as other major economies eye withdrawing stimulus.

Kuroda, who heads to Germany for a Group of 20 finance leaders' meeting this weekend, shrugged off market speculation the BOJ may raise its target on bond yields later this year, when consumer inflation is expected to approach 1 percent due mostly to a rebound in fuel costs and rising import prices from a weak yen.

"The Fed is going to continue to continue to hike rates, so we don't see any reason to aggressively buy the yen more," said Masashi Murata, senior strategist at Brown Brothers Harriman in Tokyo.

U.S. data on Thursday underscored the U.S. economy's solid underpinnings. Homebuilding increased 3.0 percent last month and jobless claims fell in the latest week.

The recently resurgent euro added 0.1 percent to $1.0770 EUR=, up 0.9 percent for a week in which Dutch center-right Prime Minister Mark Rutte fended off an election challenge from anti-Islam politician Geert Wilders. Concerns about the election outcome had pressured the single currency.

The European Central Bank will decide at a later time whether to raise interest rates before or after ending its bond purchase program, ECB policymaker Ewald Nowotny told a newspaper on Thursday.

Sterling edged down 0.1 percent to $1.2349 GBP=D3 after hitting a two-week high of $1.2373 overnight, after the Bank of England kept rates on hold but gave a handful of hints in voting results and its minutes that it might raise them soon.

The pound was up 1.5 percent for the week, after outgoing BoE policymaker Kristin Forbes unexpectedly voted for a rise in interest rates, and others signaled it would not take much for them to follow suit.
Newer News
17/10 Trump Embraces Foreign Aid to Counter China’s Global Influence
22/08 The influence of the US-China trading war on the financial markets
15/08 European stocks enjoy breather as Turkish lira rebounds
12/07 OPEC warns of trade war 'risks' for oil market
15/06 Japan enacts law to ratify CPTPP
17/04 Trump says US could rejoin TPP if deal improved. How hard would it be?
31/03 Thailand wants to join CPTPP this year: Deputy PM
30/03 CPTPP likely to launch early 2019
22/03 Dollar lower, stock markets 'tepid' before Fed
09/01 DOC launches sunset review of anti-dumping measure on Việt Nam wind towers
Older News
17/03 Oil prices edge up as drop in U.S. crude stocks eases glut worries
17/03 Asia stocks set to end week higher, dollar slides after Fed
17/03 Wall Street slips with healthcare stocks, Nasdaq flat
14/03 Dollar inches up on U.S. yields, euro retreats from 1-month high
14/03 Bets on gold hold ground even as Fed rate hike looms large
14/03 Oil hovers near three-month lows as investors await data
14/03 Wall Street drifts with eyes on Fed; Intel drops
10/03 Dollar on track for winning week as U.S. jobs data awaited, euro firm
10/03 Asia stocks edge higher, dollar up before U.S. payrolls
10/03 U.S. oil rises after dropping below $50 for first time since December
Newsletter Signup
Top Stories
VN Index to rise amid volatility, weak liquidity
VN stocks continue rallying
VN manufacturing PMI hits 22-month high in March
CPI goes up 4.96 percent year-on-year in first quarter
Slight rise in February CPI
Market Update
Last updated at 11:31:56 AM
VN-INDEX 913.76 -5.26/-0.57%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.