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UK News
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European shares end higher as commodity majors reverse losses
Published at 02/03/2021 at 17:10 -
FTSE 100 ends higher ahead of budget announcement, midcaps shunned
Published at 02/03/2021 at 17:04 -
Energy, mining stocks drag down FTSE 100
Published at 02/03/2021 at 08:19 -
Weak commodity prices weigh on European shares
Published at 02/03/2021 at 08:16 -
UK Stocks-Factors to watch on March 2
Published at 02/03/2021 at 07:46 -
UK Stocks-Factors to watch on March 2
Published at 02/03/2021 at 05:37 -
European stocks mark best day in nearly 4 months after bond-driven rout
Published at 01/03/2021 at 17:23 -
Homebuilders, miners spur bounce-back in British stocks
Published at 01/03/2021 at 17:15 -
European stocks rebound as bond markets stabilise
Published at 01/03/2021 at 08:25 -
Recovery bets lift British stocks as miners, oil stocks jump
Published at 01/03/2021 at 08:18
Forex News
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FOREX-Dollar on defensive as risk sentiment recovers amid retreat in U.S. yields; Aussie gains
Published at 03/03/2021 at 01:57 -
FOREX-Dollar dips, Aussie gains on improving risk sentiment
Published at 02/03/2021 at 20:43 -
FOREX-Dollar index higher, Aussie gains on better risk sentiment
Published at 02/03/2021 at 15:05 -
FOREX-Dollar index in fourth straight session of gains; Aussie picks up
Published at 02/03/2021 at 12:59 -
FOREX-Dollar rises to one-month high; riskier currencies fall as shares falter
Published at 02/03/2021 at 09:07 -
FOREX-Dollar holds advantage over low-yielders, risk currencies slip back
Published at 02/03/2021 at 04:38 -
FOREX-Dollar holds advantage over low-yielders, A$ looks to RBA
Published at 02/03/2021 at 01:17 -
FOREX-Dollar gains on reflation trade, Aussie recovers
Published at 01/03/2021 at 20:25 -
FOREX-Dollar gains on reflation trade, Aussie recovers
Published at 01/03/2021 at 15:20 -
FOREX-Dollar clings to three-weeks high as yields steady
Published at 01/03/2021 at 12:32
Market News
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PRECIOUS-Firm U.S. yields keep gold under pressure
Published at 03/03/2021 at 04:07 -
Oil rises on demand hopes after days of sell-off
Published at 03/03/2021 at 04:06 -
Oil slips on concerns that OPEC+ may be set to pump up supply
Published at 03/03/2021 at 01:52 -
PRECIOUS-Gold inches lower as firm U.S. Treasury yields weigh
Published at 03/03/2021 at 01:16 -
Oil falls to 2-week lows as OPEC+ seen easing supply curbs
Published at 02/03/2021 at 21:54 -
PRECIOUS-Gold rebounds as U.S. dollar, yields slip
Published at 02/03/2021 at 19:03 -
PRECIOUS-Gold edges up as U.S. yields soften
Published at 02/03/2021 at 13:37 -
PRECIOUS-Gold prices at 8-1/2-month low on firmer dollar, higher yields
Published at 02/03/2021 at 08:44 -
Oil extends losses on worry over possible supply increase from OPEC
Published at 02/03/2021 at 01:44 -
PRECIOUS-Gold prices edge higher as U.S. Treasury yields retreat
Published at 02/03/2021 at 01:16
FOREX-Dollar nurses weekly loss as bounce fades
Published at
22/01/2021 at 06:09
* Dollar posts slight gains on AUD, NZD in Asia
* Euro and yen steady as dollar bears regroup
* Bitcoin on track for weekly drop
* Graphic: World FX rates
By Tom Westbrook
SINGAPORE, Jan 22 (Reuters) - The dollar steadied in a cautious Asia session on Friday but it is set to log its worst week of the year as investors welcomed the Joe Biden administration by seeking out riskier assets.
Against the Japanese yen , the dollar has fallen 0.3% this week and it has shed 0.8% against the euro , the largest weekly percentage drops since mid-December.
The dollar last traded steady at $1.2172 per euro and bought 103.54 yen. It advanced a little against the Australian and New Zealand dollars but not enough to derail weekly gains for the Antipodeans, of 0.6% for the Aussie and 0.9% for the kiwi.
Biden, whose Democratic Party controls the U.S. Congress, is seeking to borrow and spend to support the economy. The anticipation of stimulus has driven equities to record highs, while inflation expectations have held real yields in check.
Central banks from Tokyo to Frankfurt, Ottawa and Oslo have also this week left policy settings untouched and begun to cautiously talk up recovery prospects, while the U.S. Federal Reserve looks committed to low rates for a very long time.
"The underlying driver of Aussie, kiwi and Canadian dollar strength is that their central banks will not be able to keep policy rates at current levels in a global recovery," said Societe Generale strategy chief Kit Juckes.
"They'll all tighten long before the Fed."
The Canadian dollar slipped 0.2% to 1.2671 per dollar with a dip in oil prices on Friday, but it is 0.5% higher this week and hit an almost three-year high on Thursday after the Bank of Canada surprised some traders by not trimming rates.
Sterling eased 0.2% from Thursday's 2-1/2 year peak to sit at $1.3707. It is supported by the hope that coronavirus vaccinations can underpin an economic recovery later in the year.
Bitcoin is travelling toward its worst week since September as regulatory risk and profit-taking deepen its pullback from record levels.
TRANSMISSION RESUMED?
The dollar's losses this week might call time on the bounce that has carried the dollar index about 1% above the three-year trough it touched in the first trading week of 2021, and settle the greenback into a downward trend once more.
The index was flat on Friday at 90.110 and 0.7% lower for the week. Forecasts for dollar weakness are widely held, and crowds are betting against the greenback, with the value of dollar shorts hitting an almost ten-year high last week.
"We expect the multi-month move lower in the dollar to continue in coming months," Nomura analysts said in a note, citing U.S. trade and budget deficits and their expectation for gains in the euro and Chinese yuan.
"We believe that, as the U.S. economy recovers in a risk-positive environment, the balance of payments could become less supportive of the dollar," they added, especially if Biden lifts taxes and global investment flows head elsewhere in response.
Data published in Asia on Friday showed Japanese inflation slumping and Australia's consumer spending stalling.
However stronger-than-expected inflation in New Zealand sent the yield on 10-year kiwi government bonds to a nine-month high, prompting Kiwibank to follow Westpac and drop its forecast for additional rate cuts.
"Rampant advances in the housing market have surely taken a negative cash rate off the table," Kiwibank's chief economist, Jarrod Kerr, said in a note to clients.
The currency fell 0.4% against the dollar with the broader mood on Friday, but inched higher against the Aussie
. The kiwi has rallied 30% on the dollar since last March's decade low.
Preliminary purchasing managers' index figures are due later on Friday across Europe and the United States, and weakness is expected as fresh waves of coronavirus infection have driven new lockdowns and curtailed growth.
========================================================
Currency bid prices at 1:41PM in Singapore (0541 GMT)
Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid
Previous Change
Session
Euro/Dollar $1.2172 $1.2169 +0.03% -0.37% +1.2178 +1.2162
Dollar/Yen 103.5650 103.5100 +0.05% +0.26% +103.6100 +103.5100
Euro/Yen 126.05 125.91 +0.11% -0.69% +126.1000 +125.9000
Dollar/Swiss 0.8850 0.8851 -0.01% +0.03% +0.8856 +0.8846
Sterling/Dollar 1.3712 1.3736 -0.16% +0.38% +1.3735 +1.3705
Dollar/Canadian 1.2672 1.2638 +0.27% -0.49% +1.2673 +1.2635
Aussie/Dollar 0.7745 0.7765 -0.25% +0.68% +0.7769 +0.7741
NZ 0.7193 0.7220 -0.35% +0.20% +0.7224 +0.7191
Dollar/Dollar
All spots Tokyo spots Europe spots Volatilities Tokyo Forex market info from BOJ +0.7191
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ World FX rates
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
(Reporting by Tom Westbrook; Editing by Ana Nicolaci da Costa and Karishma Singh)
((tom.westbrook@tr.com; +65 6318 4876;))