Edition:
India

Chuck Mikolajczak

Goldman Sachs expects rejection of SEC plan to raise 13F reporting threshold

19 Oct 2020

NEW YORK A plan by the Securities and Exchange Commission (SEC) to lift the reporting threshold for a minimum of assets under management from $100 million to $3.5 billion has been soundly rejected by the public, according to Goldman Sachs.

Dollar hits 2-week high on risk-off tone, pound drops

16 Oct 2020

NEW YORK The dollar jumped to a two-week high on Thursday and the Japanese yen rose as investors sought safe havens on signs of a stalling U.S. economic recovery and new fiscal stimulus seemed unlikely before the U.S. presidential election.

Risk-off sentiment boosts U.S. dollar, pound drops

15 Oct 2020

NEW YORK The dollar climbed on Thursday along with the safe-haven yen as signs the U.S. economy was stalling while fiscal stimulus appeared unlikely before the U.S. presidential election kept investors in a risk-off stance.

FOREX-Risk-off sentiment boosts U.S. dollar, pound drops

15 Oct 2020

* Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E (Adds details, updates prices; previous LONDON)

Dollar dips after best day in three weeks; euro hits lowest level in a week

15 Oct 2020

NEW YORK The dollar index retreated on Wednesday, a day after notching its biggest daily percentage gain in three weeks, and the euro hit its lowest level in a week as global equity markets remained cautious on waning hopes a COVID-19 vaccine or U.S. fiscal stimulus was on the horizon.

FOREX-Dollar fades after best day in three weeks; euro touches nine-day low

14 Oct 2020

* Dollar pulls back after best day in 3 weeks * Pound bounces off nine-day low * Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E (Adds details, updates prices; previous LONDON) By Chuck Mikolajczak NEW YORK, Oct 14 The dollar index retreated on Wednesday, a day after notching its biggest daily percentage gain in three weeks and the euro touched a nine-day low, as global equity markets remained cautious in light of waning hopes for a COVID-19 vaccine or U.S. fiscal stimulus. The dollar jumped on Tuesday on concerns about the length of time before a COVID-19 vaccine would be available and on diminishing expectations a fresh fiscal stimulus package would be agreed upon in the United States before the Nov. 3 presidential election. Senate Majority Leader Mitch McConnell said on Tuesday the Republican-led U.S. Senate would vote next week on a targeted, $500 billion coronavirus economic aid bill of the type Democrats already have rejected as they hold out for trillions in relief. "Right now the dollar is simply going back and forth on stimulus news, and it is not going very far," said Joseph Trevisani, senior analyst at FXStreet.com. The greenback extended declines after data showed the U.S. producer price index for final demand rose 0.4% in September, topping the 0.2% forecast, after advancing 0.3% in August, amid a surge in the cost of hotel and motel accommodation that led to the first year-on-year gain since March. The dollar index fell 0.232%. The pound fell as low as $1.2865 as hopes dimmed for a Brexit agreement, before recovering as the European Union and Britain are set to prolong talks past a mid-October deadline to try to bridge persistent gaps holding up a new agreement, according to sources and documents. "For the pound it is pretty much Brexit - Boris says something good, it goes up, Boris says something bad, it goes down. It doesn’t seem to be reacting terribly to the coronavirus," said Trevisani. Sterling was last trading at $1.3046, up 0.87% on the day. Euro zone industrial production data showed the rate of recovery slowed sharply in August, in line with expectations. European nations are extending restrictions well beyond social life to close schools, cancel surgeries and enlist legions of student medics as overwhelmed authorities face their nightmare scenario of a COVID-19 resurgence at the onset of winter. The euro was up 0.11% to $1.17575. ======================================================== Currency bid prices at 10:33 AM (1433 GMT) Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Euro/Dollar $1.1757 $1.1745 +0.11% +4.87% +1.1769 +1.1719 Dollar/Yen 105.1950 105.4600 -0.27% -3.17% +105.5100 +105.1650 Euro/Yen 123.67 123.89 -0.18% +1.41% +123.9500 +123.5900 Dollar/Swiss 0.9127 0.9149 -0.24% -5.68% +0.9163 +0.9125 Sterling/Dollar 1.3047 1.2937 +0.88% -1.60% +1.3053 +1.2865 Dollar/Canadian 1.3140 1.3136 +0.05% +1.16% +1.3157 +1.3116 Aussie/Dollar 0.7172 0.7161 +0.15% +2.22% +0.7191 +0.7153 Euro/Swiss 1.0729 1.0742 -0.12% -1.13% +1.0749 +1.0727 Euro/Sterling 0.9009 0.9077 -0.75% +6.56% +0.9121 +0.9010 NZ 0.6656 0.6648 +0.12% -1.08% +0.6672 +0.6645 Dollar/Dollar Dollar/Norway 9.1950 9.2490 -0.62% +4.78% +9.2715 +9.1895 Euro/Norway 10.8113 10.8570 -0.42% +9.89% +10.8800 +10.8010 Dollar/Sweden 8.8143 8.8295 -0.08% -5.70% +8.8420 +8.7961 Euro/Sweden 10.3624 10.3710 -0.08% -0.99% +10.3840 +10.3451 (Reporting by Chuck Mikolajczak)

Dollar strengthens as vaccine, stimulus hopes dim

14 Oct 2020

NEW YORK The U.S. dollar strengthened on Tuesday as investors turned cautious after a Johnson & Johnson COVID-19 study was paused and as hopes dimmed that a fiscal stimulus package could be reached before the presidential election.

FOREX-Dollar strengthens as vaccine, stimulus optimism dented

13 Oct 2020

* Euro, sterling fall against dollar * U.S. dollar index up on stimulus, vaccine uncertainty * Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E (Adds details, updates prices; previous LONDON) By Chuck Mikolajczak NEW YORK, Oct 13 The U.S. dollar strengthened on Tuesday as investors turned cautious after a Johnson & Johnson Covid-19 study was paused while a gauge of inflation rose for a fourth straight month. Major equity averages were lower, partly due to a decline in J&J shares after the company paused due to an unexplained illness in a participant, dampening optimism a vaccine was on the horizon. U.S. consumer prices rose 0.2% in September, matching expectations, for a fourth straight monthly climb, though the pace has slowed amid considerable slack in the economy as it gradually recovers from the COVID-19 recession. The dollar index rose 0.416% against a basket of other currencies, putting it on track for its biggest daily percentage gain in three weeks. The U.S. currency's safe-haven appeal has been curbed by growing expectations former U.S. Vice President Joe Biden's win in the Nov. 3 presidential election would bring large stimulus for the pandemic-hit economy, bolstering the stock market and investor risk appetite. The greenback has held within a range of about 2% over the past three weeks as talks on a fiscal deal have progressed in fits and starts. On Tuesday, U.S. House Speaker Nancy Pelosi said the offer President Donald Trump recently made on a package after he scrapped talks fell far short of what the American people need, but she still hopes a deal can be reached. Sterling was last trading at $1.2987, down 0.59%, after climbing above the $1.30 mark for the first time in a month on Friday as Britain's unemployment rate rose by more than expected to 4.5% in the three months to August. In addition, as a deadline looms, British Prime Minister Boris Johnson told his top cabinet ministers on Tuesday he wanted a free trade deal with the European Union on the right terms but ending the year without one held "no fear." ======================================================== Currency bid prices at 10:29 AM (1429 GMT) Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Euro/Dollar $1.1753 $1.1815 -0.52% +4.83% +1.1815 +1.1742 Dollar/Yen 105.5350 105.3550 +0.21% -2.80% +105.6200 +105.2900 Euro/Yen 124.03 124.40 -0.30% +1.71% +124.4700 +123.9800 Dollar/Swiss 0.9135 0.9092 +0.50% -5.58% +0.9142 +0.9091 Sterling/Dollar 1.2988 1.3066 -0.60% -2.07% +1.3067 +1.2960 Dollar/Canadian 1.3130 1.3109 +0.19% +1.10% +1.3146 +1.3100 Aussie/Dollar 0.7165 0.7211 -0.64% +2.12% +0.7210 +0.7157 Euro/Swiss 1.0734 1.0738 -0.04% -1.09% +1.0745 +1.0726 Euro/Sterling 0.9048 0.9040 +0.09% +7.03% +0.9074 +0.9020 NZ 0.6639 0.6647 -0.18% -1.40% +0.6670 +0.6630 Dollar/Dollar Dollar/Norway 9.2020 9.1545 +0.60% +4.99% +9.2215 +9.1390 Euro/Norway 10.8160 10.7914 +0.23% +9.94% +10.8381 +10.7769 Dollar/Sweden 8.8086 8.7884 -0.33% -5.76% +8.8280 +8.7569 Euro/Sweden 10.3539 10.3884 -0.33% -1.10% +10.4100 +10.3307 (Reporting by Chuck Mikolajczak)

Dollar index slips but holds near 3-week lows; yuan drops

13 Oct 2020

New York The dollar index was little changed near three-week lows on Monday as optimism over the possibility of a COVID-19 relief bill was curbed by concern over the pandemic, while China's yuan fell after the People's Bank of China (PBOC) changed its reserve requirements policy.

FOREX-Dollar index holds near 3-week lows; yuan drops

12 Oct 2020

* Dollar index near three-week lows * China's yuan drops after central bank lowers reserve requirement * Pound strengthens after lockdown measures announced * Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E (Adds details, updates prices; previous LONDON) By Chuck Mikolajczak New York, Oct 12 The dollar index held near three-week lows on Monday as optimism over the possibility of a COVID-19 relief bill was curbed by concern over the pandemic while China's yuan fell after the People's Bank of China (PBOC) changed its reserve requirements policy. On Sunday, the Trump administration called on Congress to pass a stripped-down coronavirus relief bill using leftover funds from an expired small-business loan program, as negotiations on a broader package continue to run into roadblocks. The greenback has held within a range of about 2% over the past three weeks as talks have gone back and forth. The dollar had its biggest loss in six weeks on Friday amid rising hopes a fiscal stimulus package would be agreed to stem the economic fallout from COVID-19. More stimulus is seen as negative for the dollar. "The chances of getting a comprehensive stimulus deal before the election are slim," said Edward Moya, senior market analyst, at OANDA in New York. "So what that means is that the damage to the economy is going to grow and it means that right now we are talking somewhere around $1.8 or $2 trillion ...and that just means the stimulus is going to be bigger the longer they wait." The offshore yuan fell 0.8% against the dollar after China's central bank said on Saturday it would lower the reserve requirement ratio for financial institutions when conducting some foreign exchange forwards trading, a move seen as a bid to curb recent yuan appreciation. The yuan had reached a more than 17-month high on Friday in offshore trade and has gained nearly 8% against the dollar since late May. But on Monday the offshore yuan was on track for its biggest daily decline against the dollar since March. The PBOC's move to end the requirement for banks to set aside cash to cover yuan forward transactions would make it easier to short the yuan, said RBC's head of Asia FX, Alvin Tan. The move was also cited by analysts as a reason for weakness in the China-sensitive Australian dollar, which was down about 0.4%. The dollar index fell 0.1%. The euro was down 0.15% to $1.1814. In Europe, the World Health Organization has urged governments to restrict activity to combat a rapid rise in COVID-19 infections. The Japanese yen weakened 0.31% versus the greenback at 105.28 per dollar after Bank of Japan Governor Haruhiko Kuroda stressed his readiness to take additional monetary easing steps. The pound held above $1.30, strengthening after Prime Minister Boris Johnson set out on Monday a three-tier system of local lockdown measures in England. Sterling was last trading at $1.3069, up 0.18% on the day. ======================================================== Currency bid prices at 11:10AM (1510 GMT) Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Euro/Dollar $1.1814 $1.1832 -0.15% +5.38% +1.1827 +1.1787 Dollar/Yen 105.2750 105.6300 -0.36% -3.09% +105.6900 +105.2550 Euro/Yen 124.36 124.92 -0.45% +1.98% +124.9600 +124.3300 Dollar/Swiss 0.9088 0.9096 -0.08% -6.08% +0.9123 +0.9088 Sterling/Dollar 1.3068 1.3045 +0.18% -1.46% +1.3072 +1.3006 Dollar/Canadian 1.3103 1.3115 -0.09% +0.86% +1.3142 +1.3102 Aussie/Dollar 0.7212 0.7243 -0.41% +2.80% +0.7235 +0.7205 Euro/Swiss 1.0735 1.0760 -0.23% -1.08% +1.0774 +1.0735 Euro/Sterling 0.9038 0.9062 -0.26% +6.91% +0.9079 +0.9038 NZ 0.6647 0.6671 -0.34% -1.20% +0.6670 +0.6644 Dollar/Dollar Dollar/Norway 9.1375 9.1285 +0.25% +4.32% +9.1630 +9.1245 Euro/Norway 10.7964 10.8100 -0.13% +9.74% +10.8240 +10.7760 Dollar/Sweden 8.7933 8.7792 -0.07% -5.93% +8.8231 +8.7856 Euro/Sweden 10.3871 10.3945 -0.07% -0.77% +10.4127 +10.3820 (Reporting by Elizabeth Howcroft and Chuck Mikolajczak, Editing by Larry King and Andrea Ricci)

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