{"id":2006572,"date":"2023-08-21T00:06:02","date_gmt":"2023-08-21T04:06:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dollar-gains-intact-as-china-disappoints-traders-eye-jackson-hole\/"},"modified":"2023-08-21T00:09:09","modified_gmt":"2023-08-21T04:09:09","slug":"dollar-gains-intact-as-china-disappoints-traders-eye-jackson-hole","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dollar-gains-intact-as-china-disappoints-traders-eye-jackson-hole\/","title":{"rendered":"Dollar remains strong as China disappoints, traders focus on Jackson Hole."},"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\">22<\/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-gains-intact-as-china-disappoints-traders-eye-jackson-hole%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=2006572&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--><div class=\"entry-content\">\n<p>By Tom Westbrook<\/p>\n<p>SINGAPORE (Reuters) \u2013 The dollar began on a firm \u200cfooting on Monday, following five straight weeks of gains, as investors looked ahead to the Federal \u2064Reserve\u2019s Jackson Hole \u200csymposium for a \u2063guide on where rates might \u2063settle when the dust\u2062 of this hiking cycle clears.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>The dollar made a gain of 0.7% on\u2062 the euro last week, inched ahead on the yen\u200d and surged by more than 1%\u2062 on the Antipodean currencies as U.S. Treasury yields leapt in anticipation of interest rates staying\u2063 higher for longer.    <\/p>\n<p>In early trade, the Australian dollar, at $0.6402, and the\u2063 New Zealand\u2062 dollar at $0.5913 were slightly lower and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-truth-and-beauty-reviewing-andrew-klavans-latest-book\/\" title=\"The Truth And Beauty: Reviewing Andrew Klavan\u2019s Latest Book\">uncomfortably close<\/a> to last week\u2019s\u2064 nine-month lows after a rate cut in China disappointed market expectations.<\/p>\n<p>China cut\u2062 its one<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/china-surprises-with-modest-rate-cut-amid-growing-yuan-risks\/\" title=\"China surprises with modest rate cut amid growing yuan risks\">-year benchmark lending rate<\/a> \u2063by 10 \u2063basis points and left its five-year rate unchanged, against economists\u2019 expectations for 15 bp cuts to both.<\/p>\n<p>The yuan\u2064 slid to the weak side\u2062 of 7.3 per\u2063 dollar despite a firm fixing of its trading range by \u2064the central bank. It last traded at 7.3011, though\u200c so far keeping off last week\u2019s lows\u2062 beyond 7.31, as that had brought state banks into spot markets in London \u200cand New\u2062 York hours as \u200cbuyers.<\/p>\n<p>The Antipodean currencies often function as a liquid proxy for the yuan owing \u200bto the region\u2019s\u200c exports to China.<\/p>\n<p>\u201cThe Australian dollar will continue to underperform this week in our view,\u201d said strategists at the Commonwealth Bank of\u2063 Australia in \u2063a note to clients.<\/p>\n<p>\u201cWe consider \u200dthere is a growing risk that the Aussie dips \u2062below $0.60 before \u200dyear-end.\u2064 It will likely take\u2063 a big Chinese stimulus package \u2064focused on <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dollar-gains-intact-as-china-disappoints-traders-eye-jackson-hole\/\" title=\"Dollar remains strong as China disappoints, traders focus on Jackson Hole.\">commodity-intensive\u200b infrastructure spending<\/a> to turn around the downtrend.\u201d<\/p>\n<p>Like the yuan, the yen is also on intervention-watch, having fallen to levels around which authorities stepped in last year. It was\u2063 steady at 145.19 per dollar in early trade.<\/p>\n<p>The euro\u2064 held at $1.0871. \u200cSterling hovered at $1.2738. The Swiss franc was just above a six-week low made\u200b last week\u200c at\u2062 0.8817 per dollar.<\/p>\n<p>Apart from waiting for news of stimulus in\u200d China, the upcoming Jackson Hole symposium \u2013 where Fed\u200b chair Jerome Powell is due to speak \u2064on Friday \u2062\u2013\u2062 is markets\u2019 major focus and may set the\u2062 direction for U.S. \u2064yields.<\/p>\n<p>Ten-year yields rose 14 basis points for the week and touched\u200b a 10-month high of 4.328%, within a whisker\u2062 of a 15-year high. Thirty-year yields rose nearly 11 bps to their highest\u2063 in more\u2063 than a decade. \u200b [US\/]\n<p>The theme this year for the annual gathering in Wyoming is \u201cstructural shifts in the global economy\u201d.    <\/p>\n<p>\u201cTwo things that\u200d may come \u2062across are: decades of ultra-low rates\u200c backed \u200bby \u2064ultra-low inflation may be over,\u201d said Vishnu\u200d Varathan, head of economics and strategy at Mizuho Bank in \u2064Singapore.<\/p>\n<p>\u201cAnd global policy-makers may\u200d prefer \u200dto \u2063maintain restrictive real rates for a while, thereby keeping risks from volatile inflation alive.\u201d<\/p>\n<p>Bitcoin, which was battered to a \u2063two-month low last week as rising \u200bU.S. yields and \u2064China\u2019s slowing economy drove a wave of selling, nursed those losses at $26,129.<\/p>\n<p>========================================================<\/p>\n<p>Currency bid prices at 0147 GMT<\/p>\n<p>                      \u200d      \u200b    Description     \u2064 RIC   \u200c    \u2063  Last         \u200d  U.S. Close  Pct Change    \u200b YTD Pct     High Bid  \u200d  \u200cLow Bid          <\/p>\n<p>                                                                                                              \u200d          \u200d              \u200d           \u2064             Previous\u2062            \u200d  \u2064    \u200b Change               \u2062       \u2064                            <\/p>\n<p>                                                                                                              \u2064  \u2062    \u200c          \u2062              \u2062  \u2062                  Session                  \u2062 \u200d                   \u2064 \u200c       \u2064  \u200c  \u200c                                                      <\/p>\n<p>                      \u200c   \u2064 \u200b   \u200d   Euro\/Dollar \u200c                    \u2064             \u2063 \u200d    \u2063              \u2064    \u200c \u2064 \u2064           \u200c          \u200b  \u200d \u2062     \u2064                                                                                              <\/p>\n<p>                                                                                \u2063         \u2064       \u200c        \u2062   $1.0871       \u2063  $1.0873\u2064   \u200b +0.00% \u2063      \u2064   +0.00%\u200b      +1.0883     +1.0872       \u2062          <\/p>\n<\/p>\n<p>                      \u200d   \u2062      Dollar\/Yen    \u200b    \u2064       \u2062             \u200d                            \u2063   \u200b       \u200b    \u200c          \u2062                                                                                               <\/p>\n<p>                                                                                \u2062   \u200b       \u200c        \u2063                   \u200b   145.3850        145.3300   \u2063+0.06% \u2064   \u200d      +0.00% \u200b     +145.4250   +145.2550     \u200d  \u2064          <\/p>\n<\/p>\n<p>                      \u200b         \u2064Euro\/Yen   \u2063         \u200c       \u2064      \u200b  \u2064  \u2062    \u200d    \u200b                 \u200c     \u2064      \u2062       \u200c \u2062       \u2064               \u2062                                                                                                 <\/p>\n<p>                                                                                \u200c        \u2063    \u200c    \u2064 \u200d                158.05 \u2063   \u2064      158.03     +0.01%     \u200b     \u2064+0.00% \u200d     \u2063+158.1500   +157.8000 \u200d      \u200c          <\/p>\n<\/p>\n<p>                      \u200c     Dollar\/Swiss     \u200b     \u2064             \u2063  \u200c     \u200b     \u200d       \u2062     \u2064  \u200c                   \u2063                                                                                             <\/p>\n<p>                                                                                \u2063 \u200b     \u2064     \u2063            \u2064            0.8825          0.8828  \u2063   -0.05% \u2064         +0.00%    \u200b \u2062 +0.8825     +0.8814          <\/p>\n<\/p>\n<p>                      Sterling\/Dollar                    \u2064                                     \u200b        \u200c\u2064             \u200d \u200d   \u200d    \u200d                                                                                          <\/p>\n<p>                                                                                \u2064                 \u200c     \u2064  \u2064  \u2064  1.2733   \u200c     \u200c  1.2736\u2063     +0.06%          +0.00%      +1.2750     +1.2735    \u2062  \u200b \u2064          <\/p>\n<\/p>\n<p>                      \u200d     Dollar\/Canadian   \u200d                    \u200c                      \u2064                \u200c         \u200c \u200b           \u2062   \u2062                                                                                          <\/p>\n<p>                                                                                \u2062     \u2064          \u200c                        1.3547          1.3551  \u200d   -0.05%  \u200b  \u2064     \u200c \u200d+0.00%      +1.3555     +1.3540 \u2063          <\/p>\n<\/p>\n<p>                      \u2064         Aussie\/Dollar        \u2064                                 \u200c   \u2063                  \u2063     \u2063\u200d                        \u200c                                                                                            <\/p>\n<p>                                                                                \u200c\u2062          \u200d         \u2064              0.6399          0.6405     -0.08%   \u2064       +0.00% \u2063     +0.6418     +0.6395          <\/p>\n<\/p>\n<p>                      \u2064       \u2062  \u200d  \u2063NZ                 \u200b                       \u2063        \u200b     \u200d    \u2064            \u2063       \u2064  \u200b     \u200c                \u2063                                                                                                       <\/p>\n<p>                      \u2064    Dollar\/Dollar                0.5910      \u2063 \u2064   0.5924     -0.16%          +0.00%      +0.5936     +0.5911 \u2062  \u2064     \u200c          <\/p>\n<\/p>\n<p>All spots<\/p>\n<p>Tokyo spots<\/p>\n<p>Europe spots <\/p>\n<p>Volatilities <\/p>\n<p>Tokyo Forex market info from BOJ<\/p>\n<\/p>\n<p>  (Reporting by Tom Westbrook. Editing\u200c by Sam Holmes and Miral Fahmy)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/dollar-gains-intact-as\/attachment\/file-photo-illustration-shows-u-s-dollar-banknotes\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>In Golden, \u200bColorado, on International Homeless Animal Day, POSO Dog Rescue is honoring shelter dog\u2019s\u200b who were once on \u200cthe kill list.<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>This week has been \u200cfilled\u200b with major headlines in the U.S. \u2062One\u2062 America\u2019s Rachel Acenas has more.<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>Trump picks Tucker over\u2063 Fox, Elon blocks the block\u200d button and Rich Men North of Richmond continues to dominate<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>One America\u2019s Jessamyn Dodd sits down \u200cwith California Senate \u200ccandidate Eric Early to discuss the rising crime in the state.<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>By Ju-min Park SEOUL (Reuters) \u2013 Suspected North Korean hackers have targeted a joint U.S.-South Korea military exercise being held this week\u2026<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>By Ju-min Park \u200bSEOUL (Reuters) \u2013 Suspected North Korean hackers have targeted\u200b a joint \u2062U.S.-South Korea military exercise being held this week\u2026<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>SAN FRANCISCO (Reuters) \u2063-California\u2019s autos regulator said on Friday it is investigating \u201crecent concerning <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/california-regulator-probes-crashes-involving-gms-cruise-robotaxis\/\" title=\"California regulator investigates GM's Cruise robotaxis after multiple crashes.\">incidents\u201d involving autonomous vehicles operated<\/a> by General\u2063 Motors\u2026<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>By Valerie Insinna and Tim Hepher WASHINGTON (Reuters) \u2013 JetZero, which \u200chas won U.S. Air \u2062Force backing to build a demonstrator \u2064for\u2026<\/h2>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The dollar started the week strong after five weeks of gains. Investors are awaiting guidance from the Federal Reserve&#8217;s Jackson Hole symposium on future interest rates.<\/p>\n","protected":false},"author":66,"featured_media":2006573,"comment_status":"open","ping_status":"closed","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":[542],"tags":[],"class_list":["post-2006572","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2006572","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=2006572"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2006572\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2006573"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2006572"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2006572"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2006572"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}