{"id":1659284,"date":"2022-09-27T02:51:06","date_gmt":"2022-09-27T06:51:06","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1659284"},"modified":"2022-09-27T02:52:23","modified_gmt":"2022-09-27T06:52:23","slug":"rampant-dollar-pauses-for-breath-as-bears-stalk-stocks","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/rampant-dollar-pauses-for-breath-as-bears-stalk-stocks\/","title":{"rendered":"Rampant dollar pauses for breath as bears stalk stocks"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/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%2Frampant-dollar-pauses-for-breath-as-bears-stalk-stocks%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=1659284&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 Xie Yu<\/p>\n<p>HONG KONG (Reuters) \u2013     Asian markets attempted to stabilise on Tuesday after a wild few days during which most assets, barring the dollar, fell, with the greenback easing a bit and stocks flat.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>Sterling, which collapsed to a record low $1.0327 on Monday, recovered to $1.0772. S&#038;P 500 futures rose 0.7% and Europe futures rose 0.6%.<\/p>\n<p>MSCI\u2019s broadest index of Asia shares outside Japan fell 0.3%, the smallest fall in five straight sessions of losses, even if it hit another two-year low. Japan\u2019s Nikkei was up by 0.5%.<\/p>\n<p>Analysts were doubtful about the outlook, however, as markets \u2013 already jittery at the prospect of U.S. interest rates staying higher for longer \u2013 have been unnerved by the upheaval in British assets in response to government spending plans.<\/p>\n<p>Britain plans tax cuts on top of huge energy subsidies, and a lack of confidence in the strategy and its funding hammered gilts and the pound on Friday and again on Monday.<\/p>\n<p>The yield on five-year gilts is up a stunning 100 basis points in two trading days. <\/p>\n<p>\u201c(It) is definitely something that\u2019s unfolding\u2026probably we\u2019re only at a certain initial stage of seeing how the market digests that kind of information,\u201d said Yuting Shao, macro strategist at State Street Global Markets.<\/p>\n<p>\u201cOf course the tax cut plan itself was really aimed to stimulate growth, reduce household burdens, but it does raise the question of what the implications are in terms of the monetary policies.\u201d<\/p>\n<p>After the pound\u2019s plunge, the Bank of England said it would not hesitate to change interest rates and was monitoring markets \u201cvery closely\u201d.<\/p>\n<p>Bank of England Chief Economist Huw Pill will speak on a panel at 1100 GMT and will likely be pressed for more details.<\/p>\n<p>BEAR TERRITORY<\/p>\n<p>Spillover from Britain kept other assets on edge.<\/p>\n<p>Bond selling in Japan pushed yields up to the Bank of Japan\u2019s ceiling and prompted more unscheduled buying from the central bank in response. [JP\/]\n<p>Wall Street fell deeper into a bear market on Monday, benchmark 10-year Treasury yields rose more than 20 bps to a 12-year high of 3.933% and the dollar was bid.<\/p>\n<p>\u201cThere could easily be another leg down as classic signs of market capitulation, such as the VIX Index reaching the key 40 level, have not occurred \u2014 although we are getting closer,\u201d said Invesco\u2019s chief strategist Kristina Hooper.<\/p>\n<p>The VIX, known as Wall Street\u2019s \u201cfear gauge\u201d, hit a three-month high of 32.88 on Monday.<\/p>\n<p>Investors are watching out for a slew of speeches by central bank officials this week, with the Fed\u2019s Charles Evans speaking at 0730 GMT on Tuesday.<\/p>\n<p>Expectations are for a small lift to 104.5 from 103.2 in the U.S. Conference Board consumer confidence later in the day.<\/p>\n<p>The dollar index on Tuesday eased 0.2% to 113.71, after earlier touching 114.58, its strongest since May 2002.<\/p>\n<p>The European single currency was up 0.3% on the day at $0.9636 after hitting a 20-year low a day ago.<\/p>\n<p>Oil and gold nursed losses. Gold, which hit a 2-1\/2 year low on Monday, rose 0.6% to $1,631 an ounce. Oil lifted slightly from its lowest levels since January. [O\/R]\n<p>U.S. crude ticked up 0.8% to $77.35 a barrel. Brent crude rose to $84.8 per barrel. <\/p>\n<p>Bitcoin broke above $20,000 on Tuesday for the first time in about a week, as cryptocurrencies bounced, along with other risk-sensitive assets.<\/p>\n<p> (Reporting by Xie Yu; Editing by Edmund Klamann and Muralikumar Anantharaman)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/business\/runaway-dollar-pauses-for\/attachment\/file-photo-pound-and-u-s-dollar-banknotes-are-seen-in-3\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8Q032-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8Q032-BASEIMAGE\" \/><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/business\/runaway-dollar-pauses-for\/attachment\/file-photo-hang-seng-stock-index-in-hong-kong-4\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8Q031-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8Q031-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Xie Yu HONG KONG (Reuters) \u2013 Asian markets attempted to stabilise on Tuesday after a wild few days during which most assets, barring the dollar, fell, with the greenback<\/p>\n","protected":false},"author":66,"featured_media":1889247,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1659284","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_finder_url":"https:\/\/www.oann.com\/business\/rampant-dollar-pauses-for\/?utm_source=rss&utm_medium=rss&utm_campaign=rampant-dollar-pauses-for","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1659284","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=1659284"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1659284\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1889247"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1659284"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1659284"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1659284"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}