Latest News

Dollar inches up vs yen as investors expect Fed will stay aggressive


Dollar edges up vs yen; Swiss franc hits highest vs euro since 2015 By Reuters

Breaking News


Economy 37 minutes ago (Sep 15, 2022 16:57)

© Reuters. Woman holds U.S. dollar banknotes in this illustration taken May 30, 2022. REUTERS/Dado Ruvic/Illustration

(Updates to late morning New York trading, changes dateline, previous SINGAPORE/LONDON)

By Caroline Valetkevitch

NEW YORK (Reuters) – The dollar was slightly higher against the yen on Thursday following data showing U.S. retail sales unexpectedly rebounded in August, while the Swiss franc hit its strongest against the euro since 2015.

The dollar pared some gains following the data, which showed retail sales increased 0.3% last month, but demand for goods is cooling as the U.S. Federal Reserve raises interest rates. Economists polled by Reuters had forecast sales would be unchanged.

The dollar has been supported by the view that the Fed will keep tightening policy aggressively.

Recent data including this week’s surprise increase in consumer prices in August is likely to give the U.S. central bank enough reason to announce a third consecutive 75-basis-point rate hike next Wednesday.

“The details of the retail sales report weren’t nearly as strong as the headline. If you break down the retail sales report, it was generally a bit softer,” said Adam Button, ForexLive chief currency analyst.

With the dollar, “the default mode in the currency market is to buy the dollar unless there’s a good reason to sell it,” he said.

The dollar was up 0.2% against the yen at 143.39, having fallen 1% on Wednesday on news that the Bank of Japan had checked on exchange rates with banks – a possible preparation for yen buying. The dollar index was nearly flat at 109.64.

Investors continued to debate whether Japanese authorities really would intervene to support their currency, which has fallen nearly 20% this year.

A record Japanese trade deficit for August has also underscored the bearish trend for the yen.

Japanese currency officials “stepped up their rhetoric this week, and the market is really still calling their bluff. It’s very tough to talk a currency down when the fundamentals are so divergent,” Button said.

The franc rose against the euro and hit its strongest level against the single currency since January 2015, when the Swiss National Bank scrapped its minimum exchange rate of 1.20 francs per euro.

Meanwhile, the dollar was down 0.2% against the Swiss franc.

The SNB also meets next week and there is some speculation in the market that it could join the Fed and ECB with outsized rate increases. Money markets are fully pricing in a 75 basis-point rate rise from the SNB, according to data from Refinitiv.

The euro was up 0.2% at $0.9997. It hit a 20-year low of $0.9864 last week.

In crypto markets, Vitalik Buterin, Ethereum inventor and co-founder, wrote on Twitter (NYSE:TWTR) that a major software upgrade to the Ethereum blockchain aimed at slashing its energy usage has been completed.

The token, which underpins the ethereum network, was last down 9.3%. Bitcoin was down 2.3%.


Currency bid prices at 11:14AM (1514 GMT)

Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid

Previous Change


Dollar index

109.6400 109.6000 +0.04% 14.611% +109.9200 +109.4100


$0.9997 $0.9978 +0.19% -12.06% +$1.0018 +$0.9956


143.3900 143.1750 +0.16% +24.57% +143.7950 +142.8000


143.35 142.87 +0.34% +10.00% +143.5800 +142.5700


0.9598 0.9623 -0.21% +5.27% +0.9641 +0.9558


$1.1489 $1.1542 -0.42% -15.01% +$1.1548 +$1.1470


1.3209 1.3169 +0.31% +4.48% +1.3213 +1.3155


$0.6711 $0.6748 -0.53% -7.66% +$0.6770 +$0.6710


0.9596 0.9604 -0.08% -7.45% +0.9611 +0.9533


0.8700 0.8646 +0.62% +3.58% +0.8702 +0.8641


Dollar/Dollar $0.5981 $0.6002 -0.35% -12.62% +$0.6025 +$0.5976


10.1510 10.1115 +0.35% +15.18% +10.1525 +10.0890


10.1493 10.0557 +0.93% +1.36% +10.1510 +10.0569


10.7155 10.6873 +0.43% +18.82% +10.7367 +10.6710


10.7084 10.6629 +0.43% +4.64% +10.7142 +10.6643

Dollar edges up vs yen; Swiss franc hits highest vs euro since 2015

UAE court orders cum-ex suspects to return $1.1 billion to DenmarkBy Reuters – Sep 15, 2022

COPENHAGEN (Reuters) – A United Arab Emirates court has ordered Briton Sanjay Shah, the main suspect in a Danish dividend tax fraud case, and other suspects to return around 8…

Treasury 5- to 30-Year Yield Curve Inverts by Most Since 2000By Bloomberg – Sep 15, 2022

(Bloomberg) — The Treasury yield curve from five to 30 years inverted by as much as 20 basis points in US trading Thursday, a day after the two- to 30-year spread also became the…

U.S. stocks churn while yields rise, Fed in focusBy Reuters – Sep 15, 2022

By Sinéad Carew NEW YORK (Reuters) – Wall Street indexes were in the red after Thursday’s choppy trading session while bond yields rose and the dollar made little progress as…

Our Apps

Terms And Conditions
Privacy Policy
Risk Warning

© 2007-2022 Fusion Media Limited. All Rights Reserved.

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Fed’s 75-or-100 Choice Keeps Traders Guessing as Decision Nears

Previous article

Elon Musk accuses Twitter of security lapses in court filing

Next article

You may also like


Leave a reply

Your email address will not be published.

More in Latest News