Dollar gains on growth fears ahead of Fed chair’s remarks

Published by
Reuters UK

By Alun John HONG KONG (Reuters) – The safe haven dollar gained ground on most peers on Wednesday as investors turned nervous again about global growth prospects, while the yen hit a fresh 24-year low as elevated bond yields in the U.S. and Europe contrasted with low Japanese interest rates. The euro fell 0.3% to $1.0493, and sterling was down 0.4% at $1.2228 ahead of British consumer price data, as investors turned to the dollar as part of a move away from riskier assets which also saw a stock market rally fizzle out. [MKTS/GLOB] An elevated CPI figure would add further pressure on the Bank o…

Read More

Leave a Reply