{"id":1643513,"date":"2022-09-16T16:51:13","date_gmt":"2022-09-16T20:51:13","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1643513"},"modified":"2022-09-16T16:51:59","modified_gmt":"2022-09-16T20:51:59","slug":"dollar-edges-down-but-posts-gains-for-week-yuan-slips-past-key-level","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dollar-edges-down-but-posts-gains-for-week-yuan-slips-past-key-level\/","title":{"rendered":"Dollar edges down but posts gains for week; yuan slips past key level"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fdollar-edges-down-but-posts-gains-for-week-yuan-slips-past-key-level%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1643513&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Caroline Valetkevitch<\/p>\n<p>NEW YORK (Reuters) \u2013     The dollar index was down slightly on Friday but registered a gain for the week as investors expected the U.S. Federal Reserve to remain aggressive when it hikes interest rates next week, while China\u2019s yuan eased past the key threshold of 7 per dollar.<\/p>\n<p>The dollar mostly held a slight gain following U.S. data showing consumer sentiment improved moderately in September. The University of Michigan\u2019s preliminary September reading on the overall index on consumer sentiment came in at 59.5, up from 58.6 in the prior month. Economists polled by Reuters had forecast a preliminary reading of 60.0 in September.<\/p>\n<p>The dollar, measured against a basket of currencies, declined 0.1% on the day to 109.68. It reached a two-decade high of 110.79 earlier this month. For the week, it was up 0.6%, and it is up about 15% for the year so far.<\/p>\n<p>\u201cThis belief that we\u2019re very close to a peak dollar, very close to peak yields,\u2026 is getting pushed back. We\u2019re seeing a lot of strong bullish dollar calls,\u201d said Edward Moya, senior market analyst at Oanda in New York.<\/p>\n<p>\u201cThat positioning will probably be strongly reflected post-FOMC next week.\u201d<\/p>\n<p>Investors expect a high chance of a 75-basis-point rate hike at next week\u2019s meeting and some chance of a 100-bps increase.<\/p>\n<p>In crypto markets, ether, the token used in the Ethereum network, hit its lowest level since late July, and was last down 2.8%. Bitcoin last fell 0.47% to $19,598.00.<\/p>\n<p>Earlier, the rising dollar pushed the offshore yuan past the critical threshold of 7 per dollar for the first time in more than two years overnight.<\/p>\n<p>The onshore unit similarly broke the key level soon after markets opened on Friday. Data showed China\u2019s economy was surprisingly resilient in August, with factory output and retail sales both growing more than expected. But a deepening property slump weighed on the outlook.<\/p>\n<p>Sterling fell against the dollar to a new 37-year low of $1.1351 and was last down 0.5% at $1.1416, while the euro was up 0.1% at $1.0008.<\/p>\n<p>British retail sales fell much more than expected in August, in another sign that the economy is sliding into a recession as the cost of living crunch squeezes households\u2019 disposable spending.<\/p>\n<p>While the Fed takes center stage next week, the Bank of Japan (BOJ) and the Bank of England are also expected to have monetary policy meetings. <\/p>\n<p>The dollar was 0.4% lower against the yen at 142.87, but was up 0.2% for the week in its fifth straight week of gains.<\/p>\n<p>Three sources familiar with the thinking of the BOJ said the central bank has no intention of raising rates or tweaking its dovish policy guidance to prop up the yen.<\/p>\n<p>\u201cWith the risk of the Fed that possibly could go a full point on Wednesday and with the Japanese holiday on Monday \u2026 you\u2019re probably going to see a little bit more patience in deciding when to make a move,\u201d Moya said. \u201cAny intervention now could be crushed by a Fed decision.\u201d         <\/p>\n<p>========================================================<\/p>\n<p>Currency bid prices at 3:38PM (1938 GMT)<\/p>\n<p>           Description      RIC         Last           U.S. Close  Pct Change     YTD Pct       High Bid    Low Bid          <\/p>\n<p>                                                       Previous                   Change                              <\/p>\n<p>                                                       Session                                                        <\/p>\n<p>           Dollar index                                                                                               <\/p>\n<p>                                        109.6800        109.7900   -0.08%         14.652%        +110.2600   +109.4600          <\/p>\n<p>           Euro\/Dollar                                                                                                <\/p>\n<p>                                        $1.0008         $0.9995    +0.14%         -11.96%        +$1.0036    +$0.9945          <\/p>\n<p>           Dollar\/Yen                                                                                                 <\/p>\n<p>                                        142.8700        143.4900   -0.43%         +24.11%        +143.6850   +142.8300          <\/p>\n<p>           Euro\/Yen                                                                                                   <\/p>\n<p>                                        142.99          143.48     -0.34%         +9.72%         +143.5300   +142.5200          <\/p>\n<p>           Dollar\/Swiss                                                                                               <\/p>\n<p>                                        0.9647          0.9619     +0.28%         +5.74%         +0.9660     +0.9603          <\/p>\n<p>           Sterling\/Dollar                                                                                            <\/p>\n<p>                                        $1.1416         $1.1472    -0.50%         -15.59%        +$1.1479    +$1.1351          <\/p>\n<p>           Dollar\/Canadian                                                                                            <\/p>\n<p>                                        1.3279          1.3226     +0.43%         +5.06%         +1.3307     +1.3228          <\/p>\n<p>           Aussie\/Dollar                                                                                              <\/p>\n<p>                                        $0.6714         $0.6701    +0.18%         -7.65%         +$0.6724    +$0.6670          <\/p>\n<p>           Euro\/Swiss                                                                                                 <\/p>\n<p>                                        0.9653          0.9613     +0.42%         -6.91%         +0.9666     +0.9579          <\/p>\n<p>           Euro\/Sterling                                                                                              <\/p>\n<p>                                        0.8765          0.8720     +0.52%         +4.35%         +0.8784     +0.8715          <\/p>\n<p>           NZ                                                                                                         <\/p>\n<p>           Dollar\/Dollar                $0.5989         $0.5965    +0.39%         -12.51%        +$0.5992    +$0.5940          <\/p>\n<p>           Dollar\/Norway                                                                                              <\/p>\n<p>                                        10.2015         10.1770    +0.49%         +16.08%        +10.2870    +10.1790          <\/p>\n<p>           Euro\/Norway                                                                                                <\/p>\n<p>                                        10.2136         10.1668    +0.46%         +1.98%         +10.2420    +10.1589          <\/p>\n<p>           Dollar\/Sweden                                                                                              <\/p>\n<p>                                        10.7594         10.7200    +0.34%         +19.31%        +10.8213    +10.7159          <\/p>\n<p>           Euro\/Sweden                                                                                                <\/p>\n<p>                                        10.7691         10.7325    +0.34%         +5.23%         +10.7940    +10.7230          <\/p>\n<p> (Additional reporting by Tommy Reggiori Wilkes in London, and Rae Wee in Singapore; Editing by Subhranshu Sahu, Deepa Babington and Jonathan Oatis)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/dollar-heads-for-another\/file-photo-chinese-yuan-and-u-s-dollar-banknotes-are-seen-3\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8F06Y-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8F06Y-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Caroline Valetkevitch NEW YORK (Reuters) \u2013 The dollar index was down slightly on Friday but registered a gain for the week as investors expected the U.S. Federal Reserve to<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1643513","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1643513","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1643513"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1643513\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1643513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1643513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1643513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}