Latest News
Irish News
Click Here to read Irish News
Forex News
Click Here to read Forex News
Market News
Click Here to read Market News
Forex News
-
FOREX-U.S. dollar losses bounce after Canada tips toward higher rates
Published at 21/04/2021 at 17:51 -
FOREX-Dollar firm as COVID-19 resurgence dampens risk appetite
Published at 21/04/2021 at 15:25 -
FOREX-Dollar firm as COVID-19 resurgence hits reflation trades
Published at 21/04/2021 at 12:33 -
FOREX-Dollar firms from 7-week lows as risk appetite fades
Published at 21/04/2021 at 09:19 -
FOREX-Dollar struggles to recover after slump to 7-week trough amid lower U.S. yields
Published at 21/04/2021 at 06:35 -
FOREX-Dollar licks wounds after drop to 7-week trough amid lower U.S. yields
Published at 21/04/2021 at 02:24 -
FOREX-Dollar rises from lows; oil drop hits crude-linked currencies
Published at 20/04/2021 at 20:33 -
FOREX-Dollar firms after nearing seven-week lows
Published at 20/04/2021 at 18:35 -
CORRECTED-FOREX-Dollar steadies near seven-week lows as interest rates hold
Published at 20/04/2021 at 17:56 -
FOREX-Dollar steadies near seven-week lows; euro holds above $1.20
Published at 20/04/2021 at 13:28
Market News
-
PRECIOUS-Supply woes push palladium to record high, gold up more than 1%
Published at 21/04/2021 at 18:54 -
Oil prices drop as India's COVID-19 surge dents demand outlook
Published at 21/04/2021 at 14:06 -
PRECIOUS-Gold gains as easing U.S. Treasury yields boost appeal
Published at 21/04/2021 at 14:04 -
PRECIOUS-Gold gains as softer U.S. dollar, yields lift appeal
Published at 21/04/2021 at 08:11 -
Oil falls for second day as India's COVID-19 surge to dent fuel demand
Published at 21/04/2021 at 03:26 -
PRECIOUS-Gold hovers near 7-week high on subdued U.S. dollar, yields
Published at 21/04/2021 at 02:22 -
Oil drops from one-mth highs on demand fears as virus surges in India
Published at 20/04/2021 at 21:11 -
PRECIOUS-Gold gains as U.S. Treasury yields ease
Published at 20/04/2021 at 19:18 -
PRECIOUS-Gold edges up on weaker dollar and U.S. yields
Published at 20/04/2021 at 13:37 -
PRECIOUS-Gold eases off seven-week peak as U.S. yields rebound
Published at 20/04/2021 at 08:28
FOREX-Dollar retreats as profit-taking, falling yields hurt
Published at
06/04/2021 at 20:47
* IMF upgrades global growth outlook
* U.S. yields slide as Fed rate hike pricing deemed too aggressive
(Updates to U.S. afternoon)
By Saqib Iqbal Ahmed and Saikat Chatterjee
NEW YORK, April 6 (Reuters) - The U.S. dollar fell to a two-week low against a basket of currencies on Tuesday, as traders booked profits after a strong March and as a fall in Treasury yields from recent peaks put pressure on the U.S. currency.
The U.S. Dollar Currency Index , which measures the greenback against a basket of six currencies, was 0.239% lower at 92.341, its lowest since March 23.
The dollar has risen this year, along with Treasury yields, as investors bet the United States would recover more quickly from the coronavirus pandemic than other developed nations, amid massive stimulus and aggressive vaccinations.
At 2.5%, the gain in March was the dollar's biggest monthly increase since the end of 2016.
"I think we are seeing some profit-taking to start the new quarter," said John Doyle, vice president of dealing and trading at FX payments firm Tempus Inc.
"Treasury yields have played a role in helping the dollar find its footing. Lower yields today would add fuel to the equity fire and diminish demand for the greenback too."
U.S. Treasury yields fell on Tuesday, while U.S. stocks hit a fresh high, further sapping demand for the safe-haven U.S. currency.
Against the Japanese yen, the dollar slipped 0.29% to 109.855 yen, a one-week low.
The International Monetary Fund raised its outlook for global economic growth again on Tuesday, forecasting worldwide output would rise 6% this year, reflecting a rapidly brightening outlook for the U.S. economy.
The upbeat assessment follows an encouraging U.S. jobs report on Friday and a solid U.S. services activity reading on Monday.
"The uptick in sentiment is likely a result of the IMF upgrading their global growth forecasts," said Doyle.
Speculators' net bearish bets on the U.S. dollar fell in the latest week to the lowest since June 2020, calculations by Reuters and U.S. Commodity Futures Trading Commission data released on Friday showed.
Sterling slipped on Tuesday as investors withdrew some cash after cable jumped to its highest in more than two weeks, while traders continued to bet on a speedy reopening of the British economy.
Major cryptocurrency Etheruem reached a peak of $2,151.63 on Tuesday, before paring gains.
The rise of Ethereum, which like most smaller cryptocurrencies tends to move in tandem with bitcoin, has helped the cryptocurrency market capitalization reach a record $2 trillion on Monday, data and market trackers CoinGecko and Blockfolio showed.
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ World FX rates EUR positions Stopping short
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
(Reporting by Saqib Iqbal Ahmed and Saikat Chatterjee; additional reporting by Tom Wilson; editing by Barbara Lewis and Mark Heinrich)
((saikat.chatterjee@thomsonreuters.com; +44-20-7542-1713; Reuters Messaging: saikat.chatterjee.reuters.com@reuters.net))