Dollar makes strong start to 2023 after months-long slump | Business

The Bloomberg spot index fell 6.8% between October and December as traders slashed long-dollar positions, its worst quarterly performance for more than a decade. While Yu sees further weakness, he’s"highly skeptical" that the Federal Reserve can cut interest rates this year, which could help temper a longer-term drop.

Traders will scour new data this week for clues on the state of the US economy. Signs were building last year that an aggressive cycle of rate hikes was starting to bring down red-hot inflation, though wage gains remain strong, suggesting higher rates for longer. The Australian dollar led losses against the greenback, down 1.4% to 0.6707. The yen bucked the trend to advance, reflecting bets on tighter policy from the Bank of Japan after its surprise December decision to tweak its yield curve control settings.

The currency pared gains in European hours to trade up 0.2% at 130.59, after earlier appreciating nearly 1% to the strongest since early June. With Japanese financial markets still shut for new-year holidays, currency flows doubled since the London open, according to Ian Tew, head of G-10 currency spot trading for EMEA at Barclays Plc.

"We’re looking at an uncertain 2023 and many macro themes will dictate market narratives — today feels like an unwind of short term December positions, rather than anything fundamental to start the year," Tew said."The overwhelming flow has been for yen calls in the option space, but we have also seen dollar demand from hedge funds."In times of uncertainty you need journalism you can trust.

_Business I don’t get it. The Americans are HEAVILY in debt and they are printing skyscraper high money notes to cover their spending and debt. Sorry, Quantitative Easing, as they call it. All these things my economics education taught me lead to a worthless currency. Why is $ stronger?

ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว

Similar News:คุณยังสามารถอ่านข่าวที่คล้ายกันนี้ซึ่งเรารวบรวมจากแหล่งข่าวอื่น ๆ ได้

SA business: 21 burning questions that will be answered in 2023 | Business2023 looks set to be an eventful year in the South African business landscape. Here are some of the biggest developments you can expect. | News24_Business
แหล่ง: News24 - 🏆 4. / 80 อ่านเพิ่มเติม »

From Brian Molefe to Markus Jooste: The business court cases that will define 2023 | BusinessFrom one of the first major trials of the State Capture era to the highly anticipated court action against ex-Steinhoff boss Markus Jooste, these are the court cases News24_Business will be following in 2023. _Business I really wonder how many more continued holidays MJ has at Heranus? you can expect to hear two words a great deal in 2023 as far as the state capture court cases are concerned - postponed & appeal
แหล่ง: News24 - 🏆 4. / 80 อ่านเพิ่มเติม »

Economic trends to watch in 2023 | BusinessThe global economy is facing risks and opportunities in 2023, from rising interest rates to China’s reopening. | News24_Business
แหล่ง: News24 - 🏆 4. / 80 อ่านเพิ่มเติม »

These 3 climate breakthroughs should give us hope for 2023 and beyond | Business InsiderThese milestones could make 2022 a turning point for the planet, including climate laws, progress in EVs, and agreements to combat plastic pollution.
แหล่ง: BISouthAfrica - 🏆 34. / 51 อ่านเพิ่มเติม »

INVESTMENT PORTFOLIO: Business Maverick’s amateur stock picks for 2023A team in form - our investments have grown over time, giving us space to explore our options for 2023.
แหล่ง: dailymaverick - 🏆 3. / 84 อ่านเพิ่มเติม »

Economic weakness set to weigh on oil price in 2023 | BusinessOil prices are set for small gains in 2023, a poll of economists and analysts shows. But most analysts say that oil demand will grow significantly in the second half of the year. The impact of Western sanctions on Russian oil is expected to be minimal. Can whoever is controlling the interest rates button follow suit pls yerrrrrr...
แหล่ง: News24 - 🏆 4. / 80 อ่านเพิ่มเติม »