The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
July 22 - The dollar eased slightly against a basket of currencies on Monday while dropping versus the yen as investors focused on U.S. President Joe Biden's decision to end his re-election campaign and the next moves from the Federal Reserve and the Bank of Japan.
"There is a growing consensus that the dollar will be stronger if Trump wins due to tax cuts and tariffs, but it’s more complicated than that as Trump doesn’t want a strong dollar," said Athanasios Vamvakidis, head of global forex research at BofA. "For this to be effective it has to be accompanied by financial market intervention that is very large, capital controls that would be exceptionally costly or the erosion of Fed independence," said George Saravelos, global head of forex at Deutsche Bank.
Lee Hardman, senior currency analyst at MUFG, said the yen has been supported by"more compelling evidence of slowing U.S. inflation.""From now on, I expect the dollar to struggle to rise above 160 versus the yen, but I don’t see a reversal of the current trend," BofA Vamvakidis argued.Analysts flagged that the ECB offered no concerted push back at last week’s policy meeting on the heavy pricing for a cut in September, which remains a strong base case.
Gold Silver Platinum Palladium PGM Platinum Group Metals Metals Precious Metals Mining News Crypto News Bitcoin News Ethereum News Mining News Interviews Economic Reports Forecasts Central Banks US Dollar Charts Tech Metals Rare Earth Metals Currency Global Economy International Policy Politics Bank Forecasts Market Nugget Mining Minutes Roundups
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold firms as dollar loses footing following Biden withdrawalThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Dollar eases as Biden ends reelection bid; yuan steady after rate cutThe dollar eased on Monday in the initial reaction to U.S. President Joe Biden's decision to end his reelection campaign, clearing the way for another...
Read more »
Dollar Edges Lower Following Biden’s Election Exit: Markets Wrap(Bloomberg) -- The dollar slipped in early Asian trading after Joe Biden ended his reelection campaign and endorsed Vice President Kamala Harris. The...
Read more »
Probably only Joe Biden can have Joe Biden replaced atop the Democratic ticketU.S. President Joe Biden poses for a selfie as he greets supporters on arrival at Raleigh-Durham International Airport in Raleigh, North Carolina, U.S., after participating in a presidential debate in Atlanta, Georgia, U.S., June 28, 2024.
Read more »
Joe Biden: Trudeau reacts to news Biden won't run for re-electionPrime Minister Justin Trudeau responded to the news that U.S. President Joe Biden won’t run for re-election Sunday, calling Biden a 'true friend.'
Read more »
Joe Biden: Trudeau react to news Biden won’t run for re-electionPrime Minister Justin Trudeau responded to the news that U.S. President Joe Biden won’t run for re-election Sunday, calling Biden a 'true friend.'
Read more »