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FTSE 100 ends higher on AstraZeneca, oil stock boost; Just Eat Takeaway slumps
Published at 21/04/2021 at 17:29 -
European shares rebound on strong earnings, M&A speculation boosts Hugo Boss
Published at 21/04/2021 at 17:17 -
FTSE 100 rises on boost from BP, Shell; Just Eat Takeaway slumps
Published at 21/04/2021 at 08:23 -
European stocks bounce back as ASML outlook lifts tech sector
Published at 21/04/2021 at 08:20 -
UK Stocks-Factors to watch on April 21
Published at 21/04/2021 at 07:47 -
UK Stocks-Factors to watch on April 21
Published at 21/04/2021 at 06:11 -
FTSE 100 ends worst session in nearly two-months; cigarette makers, oil stocks weigh
Published at 20/04/2021 at 17:41 -
Europe stocks post worst day of the year; Tobacco firms weigh
Published at 20/04/2021 at 17:26 -
Cigarette makers, AB Foods drag FTSE 100 lower; Elementis shines
Published at 20/04/2021 at 08:22 -
Tobacco companies weigh on European shares
Published at 20/04/2021 at 08:20
Forex News
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FOREX-U.S. dollar losses bounce after Canada tips toward higher rates
Published at 21/04/2021 at 21:00 -
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
Market News
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Oil prices drop on U.S. crude build, COVID-19 surge in India
Published at 21/04/2021 at 19:28 -
PRECIOUS-Supply woes push palladium to record high, gold up more than 1%
Published at 21/04/2021 at 18:54 -
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 near two-week lows as investors await Fed minutes
Published at
07/04/2021 at 15:40
* Euro higher euro zone data supports
* Aussie, Kiwi dollar slip
(Updates prices, market activity, comments to U.S. market open; changes dateline, previous LONDON)
By Saqib Iqbal Ahmed and Elizabeth Howcroft
NEW YORK, April 7 (Reuters) - The U.S. dollar hovered near a two-week low against a basket of currencies on Wednesday, as profit-taking and weakness in U.S. yields exerted pressure.
Market participants were hesitant to place big directional bets ahead of the Federal Reserve's meeting minutes later in the day, and the dollar traded little-changed against most of the majors.
The U.S. Dollar Currency Index , which measures the greenback against a basket of six currencies, was 0.101% lower at 92.213.
The dollar has appreciated this year along with Treasury yields as investors bet the United States would recover more quickly from the COVID-19 pandemic than other developed nations.
But the dollar index's 2.5% gain in March, the biggest monthly increase since the end of 2016, prompted some traders to book profits, analysts said. The weakness in Treasury yields after their rapid rally this year also added pressure on the dollar.
All of this has left investors wondering if the dollar weakness, which sent the currency to a near 3-year low earlier this year, may be set to resume.
"I don’t think it is necessarily time to say the USD is in a downward trend, but rather some of the support it had been seeing has faded to a degree," Stuart Cole, chief macro strategist at Equiti Capital in London, said.
Upbeat European data on Wednesday showing euro zone business activity bounced back to growth last month, also supported the common currency against the greenback.
Market participants await the release of Fed meeting minutes later in the session for hints about the Fed policymakers' views on rising yields.
"Investors will be scanning the minutes in search of any 'discomfort' among policymakers about rising inflation prospects and in parallel any hint that the discussion is migrating towards defining a timeline for tapering asset purchases," ING strategists wrote in a note.
"Any (even mild) hawkish signal surely bears the risk of hitting Treasuries, and providing some support to the dollar."
The Australian dollar fell against the dollar, down 0.4%
, while the New Zealand dollar was down 0.38% , both pausing their upward trajectory of the last two weeks.
The Canadian dollar also fell, hurt by a third wave of the COVID-19 pandemic in the country.
Sterling sank on Wednesday as profit-taking by traders after a strong first quarter for the British currency pulled it to a week's low against the dollar and its lowest in two weeks against the euro.
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ World FX rates The lull after the storm
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(Reporting by Saqib Iqbal Ahmed and Elizabeth Howcroft; Additional reporting by Ritvik Carvalho and Joice Alves; Editing by Kirsten Donovan, Timothy Heritage and Barbara Lewis)
((Elizabeth.Howcroft@thomsonreuters.com; +44 02075427104;))