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...cautious approach to starting to reduce Bank Rate”....
...dollar....
...The Reserve Bank of Australia’s preferred measure, the trimmed mean, came in at 4 per cent, also beating a Reuters forecast of 3.8 per cent....
...After Thursday’s announcement, sterling fell against the dollar to trade down 0.9 per cent on the day at $1.267....
...Indonesia’s central bank stepped in to support the rupiah on Tuesday, while the Indian rupee slumped to a record low, as a surging dollar sparked a rout in emerging market currencies....
...“The main trigger is still the Fed and a stronger dollar,” said a Shanghai-based renminbi trader at a Chinese state bank....
...China’s onshore renminbi was largely flat, edging down 0.01 per cent to Rmb7.23 ahead of the daily rate fixing announcement from the People’s Bank of China....
...The Canadian dollar hit its weakest level against its US counterpart since late November after the country’s jobs report came in softer than expected ahead of next week’s central bank meeting....
...dollar’s strength....
...China’s currency weakened 0.6 per cent against the dollar to Rmb7.26, its lowest level since November, after a central bank official said there was room for more monetary easing....
...These were sums owed in forward contracts to companies that sold naira to the bank in exchange for dollars....
...On Thursday, the European Central Bank signalled it was still on course to deliver interest rate cuts in June....
...China’s renminbi also strengthened after the People’s Bank of China set the midpoint for trading the currency at Rmb7.0996 a dollar, stronger than estimates....
...The yen weakened 0.8 per cent against the dollar to ¥150.36 for the day....
...The People’s Bank of China set a stronger renminbi reference rate on Thursday, fixing the trading midpoint at Rmb7.102 a dollar in an attempt to discourage sales of the renminbi against the dollar....
...its allies to freeze hundreds of billions in central bank assets — had, “if anything”, bolstered the dollar’s global status....
...That dampened hopes that the European Central Bank might begin cutting interest rates soon. The euro was flat at $1.0835....
...That has pushed the yen to 34-year lows against the dollar, sparking an unusually blunt warning from BoJ governor Kazuo Ueda that the central bank could act if the weaker yen impact became “too big to ignore...
...In reality, a resumption of the currency wars of the 2000s and 2010s is unlikely to do much to reduce the US deficit nor undermine the dollar’s global role in bank funding, payment systems and reserves....
...Vietnam’s dong strengthened against the dollar after news last week the country’s central bank was intervening in currency markets....
...The yen has been weakening since the beginning of 2024 as traders downplay the likelihood of a near-term interest rate increase by the Bank of Japan....
...John Mushayavanhu, governor of the southern African nation’s central bank, admitted on Friday that money printing had wrecked the five-year-old Zimbabwe dollar as he launched the ZiG, its replacement....
...Japanese equities fell ahead of a decision from the country’s central bank on whether to raise rates for the first time since 2007, but losses were larger for other major Asian bourses in early trading....
...The yen rallied to its strongest against the dollar since early February on Thursday, as strong wage data and positive central bank commentary convinced traders that the Bank of Japan could scrap its negative...
...“If dollar-yen trades above the 152 level, the risk of yen-buying intervention would rise significantly,” said Goto....
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