The dollar steadied on Wednesday as stronger-than-expected U.S. retail sales had traders slightly trimming bets that the U.S. easing cycle will begin with an...
SINGAPORE - The dollar steadied on Wednesday as stronger-than-expected U.S. retail sales had traders slightly trimming bets that the U.S. easing cycle will begin with an outsized interest rate cut.
It briefly fell below 140 yen in a holiday-thinned Asia session on Monday but changed hands at 142.02 yen early on Wednesday as a big week for the currency pair culminates with central bank meetings in the U.S. and, on Friday, in Japan. Traders say the Fed's tone as well as the size of the rate cut will drive the next moves in the foreign exchange market.
China's stock, bond and currency markets resume trade on Wednesday after the mid-autumn festival break, though it is a holiday on Wednesday in Hong Kong. Ahead of the onshore open, the yuan traded at 7.1083 per dollar offshore.The Australian dollar traded firmly at $0.6759 early on Wednesday while the New Zealand dollar ticked 0.1% higher, with help from higher milk prices, to $0.6194.
"With markets wagering on 41bp of cuts, which is a long way from either realistic contender , volatility seems almost assured," analysts at ANZ Bank said in a note to clients.Vance touts deportation plan in Wisconsin city where tensions flared over refugee resettlement
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