October 29, 2019 / 6:57 PM / 21 days ago

FOREX-Dollar slips against euro before Fed decision; sterling dips

    * Fed expected to cut U.S. rates
    * Britain likely to hold election in December
    * Aussie gains on U.S.-China trade deal hopes
    * U.S. consumer confidence fell in October 

 (New throughout, updates prices, market activity and comments,
adds British election vote)
    By Karen Brettell
    NEW YORK, Oct 29 (Reuters) - The dollar dipped against the
euro on Tuesday, a day before the Federal Reserve was expected
to cut U.S. interest rates, while sterling dipped as Britain
looked likely to go to election in December.
    Investors will watch the conclusion of the U.S. central
bank's two-day meeting, and the dollar may gain if the Fed
indicates reluctance to cut rates more.
    “We’re looking for a hawkish reaction, which would lean
toward a stronger dollar,” said Mark McComick, North American
head of FX strategy at TD Securities in Toronto.
    “Given that markets are looking for the Fed to prop up the
economy over the coming months, I think them signaling a little
bit of a pause would kind of reinforce some consolidation in the
dollar, especially against euro and sterling which have been
driven by the Brexit euphoria,” he said.
    Increasing optimism that Britain will reach a deal to avoid
a disorderly exit from the European Union has supported the euro
and sterling recently.
    Still, the pound dipped on Tuesday in choppy trading after
Prime Minister Boris Johnson won parliament's preliminary
approval to hold Britain's first December election in almost a
century in a bid to break the Brexit deadlock.
    On Monday, the EU agreed to a three-month flexible delay to
Britain's departure.
    Sterling fell 0.04% against the dollar to $1.2857. It
has risen from $1.2193 on Oct. 8, but is below a five-month high
of $1.3012 reached on Oct. 21.
    The Australian dollar climbed for a third straight session
against the greenback on growing hopes for a U.S.-China trade
agreement. Australia's economy is highly correlated to China's
and on Monday, U.S. President Donald Trump said he expected to
sign a significant part of the trade deal ahead of schedule.

    The dollar index against a basket of six major currencies
 fell after data showed U.S. consumer confidence
unexpectedly fell in October.
 ========================================================
    Currency bid prices at 2:30PM (1830 GMT)
 Description      RIC         Last           U.S. Close  Pct Change     YTD Pct     High Bid    Low Bid
                                              Previous                   Change                 
                                              Session                                           
 Euro/Dollar      EUR=        $1.1109        $1.1098     +0.10%         -3.13%      +1.1118     +1.1074
 Dollar/Yen       JPY=        108.8800       108.9400    -0.06%         -1.25%      +109.0600   +108.7800
 Euro/Yen         EURJPY=     120.96         120.93      +0.02%         -4.17%      +121.0600   +120.5900
 Dollar/Swiss     CHF=        0.9933         0.9944      -0.11%         +1.21%      +0.9964     +0.9934
 Sterling/Dollar  GBP=        1.2857         1.2862      -0.04%         +0.78%      +1.2904     +1.2808
 Dollar/Canadian  CAD=        1.3088         1.3050      +0.29%         -4.03%      +1.3095     +1.3041
 Australian/Doll  AUD=        0.6861         0.6838      +0.34%         -2.67%      +0.6871     +0.6836
 ar                                                                                             
 Euro/Swiss       EURCHF=     1.1038         1.1037      +0.01%         -1.92%      +1.1049     +1.1022
 Euro/Sterling    EURGBP=     0.8639         0.8628      +0.13%         -3.84%      +0.8650     +0.8609
 NZ               NZD=        0.6351         0.6347      +0.06%         -5.45%      +0.6375     +0.6340
 Dollar/Dollar                                                                                  
 Dollar/Norway    NOK=        9.2364         9.2217      +0.16%         +6.92%      +9.3041     +9.2140
 Euro/Norway      EURNOK=     10.2629        10.2343     +0.28%         +3.60%      +10.3121    +10.2140
 Dollar/Sweden    SEK=        9.7060         9.7021      +0.14%         +8.28%      +9.7488     +9.7017
 Euro/Sweden      EURSEK=     10.7847        10.7700     +0.14%         +5.07%      +10.8045    +10.7706
 
 (Editing by Marguerita Choy and David Gregorio)
  
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below