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UK News
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European shares drop as high yields spark profit taking in tech, resources
Published at 26/02/2021 at 17:24 -
FTSE 100 marks weakest day in four months as bond rout deepens
Published at 26/02/2021 at 17:10 -
FTSE 100 falls as bond rout hits global equities
Published at 26/02/2021 at 08:18 -
European shares drop more than 1% as bond sell-off intensifies
Published at 26/02/2021 at 08:12 -
UK Stocks-Factors to watch on Feb 26
Published at 26/02/2021 at 07:54 -
European stock futures slide over 1% as surging bond yields roil equity markets
Published at 26/02/2021 at 06:13 -
UK Stocks-Factors to watch on Feb. 26
Published at 26/02/2021 at 05:48 -
FTSE 100 reverses course on high bond yields, Stanchart leads losses
Published at 25/02/2021 at 17:15 -
European shares dip as high yields, inflation concerns return to fore
Published at 25/02/2021 at 17:15 -
FTSE 100 climbs as recovery bets boost mining, energy stocks
Published at 25/02/2021 at 08:28
Forex News
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FOREX-Dollar gains on higher yields, risky currencies weaken
Published at 26/02/2021 at 20:29 -
FOREX-Dollar gains on higher yields, safe haven bid, risky currencies weaken
Published at 26/02/2021 at 15:23 -
FOREX-Bond selloff boosts dollar, risk currencies knocked lower
Published at 26/02/2021 at 12:29 -
FOREX-Dollar strengthens as U.S. yields spike, pound falls to one-week low
Published at 26/02/2021 at 09:52 -
CORRECTED-FOREX-Dollar firms after U.S. yield spike; yen continues march lower
Published at 26/02/2021 at 08:53 -
CORRECTED-FOREX-Dollar firms after U.S. yield spike, hits six-month high versus yen
Published at 26/02/2021 at 08:52 -
FOREX-Dollar firms on sudden spike in U.S. Treasury yields
Published at 25/02/2021 at 21:09 -
FOREX-Dollar firms on sudden spike in U.S. Treasury yields
Published at 25/02/2021 at 19:47 -
FOREX-Dollar dips, Aussie jumps on global growth optimism
Published at 25/02/2021 at 15:31 -
FOREX-Currency markets turn "risk on"; Aussie crosses $0.8 for first time in 3 years
Published at 25/02/2021 at 12:45
Market News
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Oil drops on dollar strength and OPEC+ supply expectations
Published at 26/02/2021 at 23:05 -
PRECIOUS-Gold slumps as rising U.S. yields, dollar dull lustre
Published at 26/02/2021 at 18:56 -
PRECIOUS-Gold set for second monthly dip as high U.S. yields erode appeal
Published at 26/02/2021 at 13:41 -
PRECIOUS-Gold hits 8-month trough as U.S. Treasury yields rally
Published at 26/02/2021 at 07:40 -
Oil prices fall on rising U.S. dollar, expectations for supply gains
Published at 26/02/2021 at 02:45 -
PRECIOUS-Gold eyes second straight weekly fall as U.S. yields gain
Published at 26/02/2021 at 01:25 -
Oil mixed, U.S. crude hits highest since 2019 as refineries restart
Published at 25/02/2021 at 20:28 -
PRECIOUS-Gold slides more than 2% as U.S. Treasury yields rise
Published at 25/02/2021 at 18:55 -
PRECIOUS-Gold falls 1% as elevated U.S. yields hit safe haven appeal
Published at 25/02/2021 at 13:18 -
PRECIOUS-Gold slips as higher U.S. Treasury yields dim appeal
Published at 25/02/2021 at 08:12
FOREX-Dollar hits six-week low as focus turns to Powell
Published at
23/02/2021 at 04:43
* AUD hits new 3-year peak as commodity currencies soar
* Japan public holiday curbs volume in Asia; yen steady
* Powell testimony due at 1500 GMT
* Graphic: World FX rates
By Tom Westbrook
SINGAPORE, Feb 23 (Reuters) - The dollar nursed losses near a six-week low on Tuesday and commodity-linked currencies loitered around multi-year highs, as investors' focus shifted to how U.S. Federal Reserve chief Jerome Powell might respond to resurgent inflation expectations.
Surging prices for materials from oil and copper to lumber and milk powder have pushed currencies such as the Canadian, Australian and New Zealand dollars to their highest in roughly three years.
However the gains have come with a worldwide rise in inflation expectations and a big sell-off in longer-dated bonds.
Traders expect Powell, who testifies before Congress at 1500 GMT, to provide some reassurance that the Fed will tolerate higher inflation without rushing to raise rates. That might calm bond markets and eventually weigh on the dollar, they said.
"I think he will talk up the downside," said Commonwealth Bank of Australia currency analyst Joe Capurso in Sydney.
"If anything, I think he will give markets a bit of a cold shower and say: 'Mr Market you're getting a bit ahead of yourself. There are plenty of risks...and the U.S. economy is long, long way from full employment.'"
Asia trade was dampened by a public holiday in Tokyo, but renewed confidence that low U.S. interest rates will not rise anytime soon could clear the way for further gains in trade-exposed currencies at the dollar's expense.
Positioning data shows investors overwhelmingly betting that a U.S. dollar that has been dropping since last March will keep falling as the world recovers from the COVID-19 pandemic, even if short holdings have been trimmed slightly in recent weeks.
"The broad dollar retains a heavy tone, expect the dollar index to continue testing the 90.00 support," said OCBC Bank strategist Terence Wu.
"Selling pressure remains strong for now. We turn slightly more cautious, but if dollar-negative views are still to be expressed, (we) prefer to do it through commodity currencies."
The U.S. dollar index fell to 89.941 on Tuesday, its lowest since mid-January. The Australian dollar briefly hit its highest since early 2018, buying $0.7934, while the kiwi
held steady around $0.7320. The Canadian dollar
held just below Monday's near three-year high.
The euro made a small gain to $1.2167 and is poised to re-test resistance around $1.2220.
Sterling , which has rallied nearly 3% this year as a speedy vaccine rollout has inspired confidence in the prospect of a British economic rebound, held above $1.40 at $1.4072.
The Japanese yen , which has been the worst performing major currency of 2021 because rising U.S. Treasury yields can draw investment from Japan, steadied at 105.02 per dollar.
Elsewhere bitcoin dropped as far as 6%, but has found support above $50,000 after a wild overnight ride where it traded in a $10,000 range and dropped as low as $47,400.
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Currency bid prices at 0419 GMT
Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid
Previous Change
Session
Euro/Dollar $1.2168 $1.2158 +0.08% +0.00% +1.2177 +1.2160
Dollar/Yen 105.0400 105.0700 -0.01% +0.00% +105.0650 +105.0550
Euro/Yen 127.82 127.72 +0.08% +0.00% +127.8200 +127.6700
Dollar/Swiss 0.8957 0.8962 -0.04% +0.00% +0.8960 +0.8950
Sterling/Dollar 1.4073 1.4064 +0.06% +0.00% +1.4082 +1.4064
Dollar/Canadian 1.2594 1.2619 -0.17% +0.00% +1.2617 +1.2586
Aussie/Dollar 0.7915 0.7916 -0.01% +0.00% +0.7934 +0.7909
NZ 0.7318 0.7329 -0.12% +0.00% +0.7333 +0.7313
Dollar/Dollar
All spots Tokyo spots Europe spots Volatilities Tokyo Forex market info from BOJ
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ World FX rates
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
(Reporting by Tom Westbrook Editing by Shri Navaratnam and Jacqueline Wong)
((tom.westbrook@tr.com; +65 6973 8284;))