The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
LONDON, Sept 16 - The dollar was lower on Monday while the yen hit its highest level in more than a year, as market participants increasingly expected an oversized rate cut by the Federal Reserve later this week.This represented a further drop from the 140.285 end-December low it struck on Friday to levels last seen in July 2023.
Futures markets were fully pricing a quarter-point cut from the Fed on Wednesday, with around a 60% chance they opt for a larger 50 basis point move. Last week, the chances of a larger move stood at about 15%. Selling the dollar for yen has been the cleanest trade for investors looking to play the drop in Treasury yields, said Chris Weston, head of research at Australian online broker Pepperstone.
BOJ board members have indicated they are keen to see rates higher, and the narrowing gap between rates in Japan and other major currencies has spurred the yen higher and caused billions of dollars worth of yen-funded carry trades to be unwound. A bar chart showing where US interest rates are now against those of other major economies versus where they are estimated to be by end-2025.The European Central Bank cut interest rates by 25 bps last week, but ECB President Christine Lagarde dampened expectations for another reduction in borrowing costs next month.
Gold Silver Platinum Palladium PGM Platinum Group Metals Metals Precious Metals Mining News Crypto News Bitcoin News Ethereum News Mining News Interviews Economic Reports Forecasts Central Banks US Dollar Charts Tech Metals Rare Earth Metals Currency Global Economy International Policy Politics Bank Forecasts Market Nugget Mining Minutes Roundups
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Dollar Slides Near Lowest Since January on Large Fed Cut Bets(Bloomberg) -- The dollar tumbled to near its weakest level since January as traders increasingly leaned toward a half percentage point rate cut by the...
Read more »
Fed Wagers Weaken Dollar and Fuel More Bond Gains: Markets WrapAsian stocks are set for a cautious open Monday after a slew of worse than expected Chinese economic activity data landed over the weekend.
Read more »
Dollar drops, gold near record high as bets for big Fed cut ramp upInvestors on Friday ratcheted up bets for a super-sized Federal Reserve interest rate cut next week, after media reports suggested the decision would be a...
Read more »
Dollar weak as traders add to wagers of big rate cut from FedThe dollar softened on Friday, with the euro and the yen on the rise as investors remained on tenterhooks ahead of next week's central bank bonanza where the...
Read more »
Dollar weak as traders add to wagers of big rate cut from FedThe dollar softened on Friday, with the euro and the yen on the rise as investors remained on tenterhooks ahead of next week's central bank bonanza where the...
Read more »
Dollar weak as traders add to wagers of big rate cut from FedThe dollar softened on Friday, with the euro and the yen on the rise as investors remained on tenterhooks ahead of next week's central bank bonanza where the...
Read more »