Dollar near five-month highs ahead of Fed policy decision
The dollar edged towards its highest level this year against a basket of peers and U.S. share futures dipped on Wednesday ahead of a Federal Reserve policy decision, though trading was thin with many European and Asian markets closed.
The dollar gained over 0.5% on Tuesday on all six currencies that make up the dollar index, leaving the gauge at 106.49, a whisker off its highest since November.
The euro was under pressure at $1.0664, heading back to its mid April five-month lows, while the pound was at $1.2488.
Traders are currently only pricing in one rate cut in 2024.
The benchmark 10-year Treasury yield was flat on the day at 4.690% , just shy of mid-April's 4.739% its highest in five months, having jumped 7 bps the day before.
European bond markets were closed for the May 1 holiday as were most share markets in Europe and those in China, Hong Kong and much of Asia. U.S. S&P500 futures dipped 0.2%.
Of those share markets that were trading, Britain's FTSE (.FTSE), opens new tab edged up a touch, holding near its latest all-time intraday high hit the day before and Japan's Nikkei dipped 0.3%. (.N225), opens new tab
The British blue-chip index, which has underperformed world peers in recent months, was a rare gainer in April, rising 2.4% helped by commodities stocks, while MSCI's world index dropped 3.4%, its biggest monthly fall since September.
The other focus in currency markets is the Japanese yen. The currency dropped to 160 per dollar on Monday, its lowest since 1990, before strengthening in several sharp bursts to as strong as 154.4 per dollar with traders pointing to likely official intervention.
Japanese officials may have spent some 5.5 trillion yen($35.05 billion) in supporting the currency on Monday, Bank of Japan data suggested on Tuesday, but the yen was last at 157.9, over half way back to its pre-intervention level.
Oil prices fell for a third day on Wednesday amid increasing hopes of a ceasefire agreement in the Middle East and rising crude inventories and production in the U.S., the world's biggest oil consumer.
Brent was down 1% at $85.40 a barrel. U.S. crude was down 1.3% at $80.90.
Gold was flat at $2284.4 an ounce down 6% from its mid-April record high, also affected by easing tensions in the Middle East.
Reuters
The dollar edged towards its highest level this year against a basket of peers and U.S. share futures dipped on Wednesday ahead of a Federal Reserve policy decision, though trading was thin with many European and Asian markets closed.
The dollar gained over 0.5% on Tuesday on all six currencies that make up the dollar index, leaving the gauge at 106.49, a whisker off its highest since November.
The euro was under pressure at $1.0664, heading back to its mid April five-month lows, while the pound was at $1.2488.
Traders are currently only pricing in one rate cut in 2024.
The benchmark 10-year Treasury yield was flat on the day at 4.690% , just shy of mid-April's 4.739% its highest in five months, having jumped 7 bps the day before.
European bond markets were closed for the May 1 holiday as were most share markets in Europe and those in China, Hong Kong and much of Asia. U.S. S&P500 futures dipped 0.2%.
Of those share markets that were trading, Britain's FTSE (.FTSE), opens new tab edged up a touch, holding near its latest all-time intraday high hit the day before and Japan's Nikkei dipped 0.3%. (.N225), opens new tab
The British blue-chip index, which has underperformed world peers in recent months, was a rare gainer in April, rising 2.4% helped by commodities stocks, while MSCI's world index dropped 3.4%, its biggest monthly fall since September.
The other focus in currency markets is the Japanese yen. The currency dropped to 160 per dollar on Monday, its lowest since 1990, before strengthening in several sharp bursts to as strong as 154.4 per dollar with traders pointing to likely official intervention.
Japanese officials may have spent some 5.5 trillion yen($35.05 billion) in supporting the currency on Monday, Bank of Japan data suggested on Tuesday, but the yen was last at 157.9, over half way back to its pre-intervention level.
Oil prices fell for a third day on Wednesday amid increasing hopes of a ceasefire agreement in the Middle East and rising crude inventories and production in the U.S., the world's biggest oil consumer.
Brent was down 1% at $85.40 a barrel. U.S. crude was down 1.3% at $80.90.
Gold was flat at $2284.4 an ounce down 6% from its mid-April record high, also affected by easing tensions in the Middle East.
Reuters
The dollar edged towards its highest level this year against a basket of peers and U.S. share futures dipped on Wednesday ahead of a Federal Reserve policy decision, though trading was thin with many European and Asian markets closed.
The dollar gained over 0.5% on Tuesday on all six currencies that make up the dollar index, leaving the gauge at 106.49, a whisker off its highest since November.
The euro was under pressure at $1.0664, heading back to its mid April five-month lows, while the pound was at $1.2488.
Traders are currently only pricing in one rate cut in 2024.
The benchmark 10-year Treasury yield was flat on the day at 4.690% , just shy of mid-April's 4.739% its highest in five months, having jumped 7 bps the day before.
European bond markets were closed for the May 1 holiday as were most share markets in Europe and those in China, Hong Kong and much of Asia. U.S. S&P500 futures dipped 0.2%.
Of those share markets that were trading, Britain's FTSE (.FTSE), opens new tab edged up a touch, holding near its latest all-time intraday high hit the day before and Japan's Nikkei dipped 0.3%. (.N225), opens new tab
The British blue-chip index, which has underperformed world peers in recent months, was a rare gainer in April, rising 2.4% helped by commodities stocks, while MSCI's world index dropped 3.4%, its biggest monthly fall since September.
The other focus in currency markets is the Japanese yen. The currency dropped to 160 per dollar on Monday, its lowest since 1990, before strengthening in several sharp bursts to as strong as 154.4 per dollar with traders pointing to likely official intervention.
Japanese officials may have spent some 5.5 trillion yen($35.05 billion) in supporting the currency on Monday, Bank of Japan data suggested on Tuesday, but the yen was last at 157.9, over half way back to its pre-intervention level.
Oil prices fell for a third day on Wednesday amid increasing hopes of a ceasefire agreement in the Middle East and rising crude inventories and production in the U.S., the world's biggest oil consumer.
Brent was down 1% at $85.40 a barrel. U.S. crude was down 1.3% at $80.90.
Gold was flat at $2284.4 an ounce down 6% from its mid-April record high, also affected by easing tensions in the Middle East.
Reuters
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Dollar near five-month highs ahead of Fed policy decision
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