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BENGALURU (Reuters) - The dollar’s weakening trend is still in play, with the currency predicted to stay range-bound or fall in the next three months, according to a majority of strategists in a Reuters poll, suggesting the currency’s recent strength was just a blip.
FILE PHOTO: U.S. dollar and euro banknotes are seen in this picture illustration taken May 3, 2018. REUTERS/Dado Ruvic/Illustration/File Photo
After a sell-off that began last year, the dollar rose in four of the past five weeks and was up over 1% for the year as traders reviewed heavy bets against the currency.
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LONDON, Feb 4 (Reuters) - Investors scaled back their bets that the Bank of England will bring in negative interest rates anytime soon after the central bank said lenders would need at least six months to prepare for such a move.
The BoE said it did not want send a signal that it intended to set a negative rate but regulators should start getting banks like HSBC, Lloyds and Barclays ready for the possibility that the policy is implemented in the future.
The European Central Bank, the Bank of Japan and others have already taken rates negative, although U.S. central bankers have been more hesitant.
Deep-pocketed investors pumped a record $4.2 billion into big technology stocks last week, BofA's flow data showed on Friday, taking advantage of the slight pullback on Wall Street while retail traders were busy buying stocks such as GameStop.
U.S. Treasury Secretary Janet Yellen and top regulators agreed that the core infrastructure of financial markets proved resilient during high volatility and heavy trading volume seen during the recent "Reddit rally" of GameStop Corp and other stocks, the Treasury Department.
[BERKELEY, California] Chicago Federal Reserve Bank President Charles Evans on Wednesday voiced support for the Biden administration's proposed US$1.9 trillion economic stimulus package, saying he would rather risk a package that is too big than a smaller package that would mean a slower path to recovery. Read more at The Business Times.