The dollar began the last quarter of the year in the ascendant on Monday due to prospects of U.S. interest rates staying higher for longer, and the yen's slide to a near one-year low put traders on watch for intervention by Japanese authorities.
Reuters: The dollar began the last quarter of the year in the ascendant on Monday due to prospects of U.S. interest rates staying higher for longer, and the yen’s slide to a near one-year low put traders on watch for intervention by Japanese authorities.Currency moves were subdued in early Asia trade with parts of Australia out for a holiday and China away for its Golden Week, though analysts said a narrowly-averted U.S. government shutdown could bring some relief to markets.
“I’d rather be in dollars at the moment than euros or pounds or others,” said Kiwibank’s Kerr. “I think the dollar will find a bit more support.” The U.S. Congress late on Saturday passed a stopgap funding bill with overwhelming Democratic support in a bid to avoid the federal government’s fourth partial shutdown in a decade, a move which Pepperstone’s head of research Chris Weston said “should be welcomed by risky assets”.“We also now have a firm understanding that the U.S.
Just a few weeks ago, traders were pricing in a peak of around 6% in UK rates next year. Removing that prospect has sent the pound down by over 3% this month, marking its largest monthly slide since last September’s budget crisis stripped almost 4% off the currency. Against the euro , the pound has lost 0.6% this quarter and was last up 0.1% on the day against the single European currency at 86.51 pence.Reuters: The South African rand strengthened against a weaker dollar on Friday after U.S.
The Nikkei jumped to be 1.6% higher as of 0100 GMT, rebounding from its lowest close in more than a month at the end of last week. U.S. stock futures rose 0.6%, pointing to a rebound from the S&P 500’s 0.3% drop on Friday. The weekend’s last-minute stopgap funding bill allowed the government to keep operating through Nov. 17, and means key data releases including Friday’s monthly payrolls report can go ahead on time.
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