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The dollar edged higher against the other major currencies on Tuesday, even as comments by a Federal Reserve official on Monday sparked fresh uncertainty over the timing of future U.S. rate hikes.The dollar came under pressure after Fed Governor Lael Brainard warned against raising interest rates too quickly.In a speech on Monday, Brainard says economic progress continues in the U.S., but the Fed would be wise to continue keeping policy loose.The comments came after Boston Fed President Eric Ros…
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U.S. June job creation blows bast consensus; jobless rate
The U.S labor market showed signs of recuperation as the economy created more jobs than expected, although the unemployment rate rose more than forecast from an eight-and-a-half year low, according to official data released on Friday.Non-farm payrolls rose 287,000 in June, compared to the rise of 11,000 in May that was revised from the initial reading of 38,000 that had been the weakest read since September 2010. The data beat the consensus estimate for the creation of 175,000 jobs.The …
Aussie, kiwi rise despite Australian political uncertainty, data
Investing.com - The Australian and New Zealand dollars rose against their U.S. counterpart on Monday, despite political uncertainty and downbeat data in Australia as easing concerns over Britain’s decision to leave the European Union continued to support risk sentiment.Trading volumes were expected to remain thin with U.S. markets closed for Independence Day.AUD/USD edged up 0.15% to 0.7504, the highest since June 24.The Aussie remained supported even after …
The US dollar turned in a mixed performance in the
There was an acute market reaction for a couple of days, but the disruption to the financial system was not major. Officials and investors feared worse. The initial line of defense—central bank swap lines—were barely used. The Bank of Japan was the only central bank to draw on the Fed's lines, and even then, the amount was inconsequential ($2 million).Outside of sterling, which lost nearly 3% on the week, theSwiss franc (-0.3%) and the …
Manufacturing activity in the U.K. unexpectedly rose in June
Manufacturing activity in the U.K. unexpectedly rose in June to its highest level since the beginning of the year, industry data showed on Friday.In a report, market research group Markit said that its U.K. manufacturing PMI rose to a seasonally adjusted 52.1 last month from a reading of 50.1 in May.That was its highest level since January 2016Analysts had expected the index to drop back into contraction at 49.9 in May.On the index, a reading above 50.0 indicates industry expansion, below indica…