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Short bets on most Asian currencies eased marginally but remained firmly in the bearish territory, a Reuters poll found on Thursday, as diminishing hopes of an early U.S. interest rate cut kept the dollar buoyant and market volatility in regional powerhouse China dampened investor confidence. Bearish bets on the South Korean won, Indonesian rupiah and the Taiwan dollar ticked lower, while those on the Chinese yuan and Singapore dollar edged higher, according to a fortnightly poll of 10 respondents. ....
TOKYO (Reuters) -The dollar index hovered at a one-month high against a basket of currencies on Wednesday as remarks by Federal Reserve Governor Christopher Waller dampened expectations for a March rate cut. Meanwhile, China's offshore yuan inched up after data showed the world's second largest economy grew enough in the fourth quarter in 2023 to meet the country's annual growth target. In Fed news, Waller said that while the U.S. is "within striking distance" of the Fed's 2% inflation goal, the central bank should not rush towards cuts in its benchmark interest rate until it is clear lower inflation will be sustained. ....
(Bloomberg) Egypt has no plans to peg its pound to a basket of currencies, an official with direct knowledge of the matter said, denying a report in state-run media.Most Read from BloombergIsrael Latest: Israeli Death Toll in Hamas Attack Reaches 1,200Hamas Got Around Israel’s Surveillance Prowess by Going DarkIsrael Latest: Top US General Warns Iran to Stay Out of ConflictIsrael Latest: Hezbollah, Israel Trade Fire on Lebanon BorderAfghanistan’s Viral Supercar Makes Global Debut at Doha Show ....
Foreign exchange strategists are sticking with their forecasts for a weaker dollar despite having been wrong-footed for years in predicting a downturn in the greenback, the latest Reuters poll showed. The dollar hit an 11-month high this week and is up nearly 3.5% this year against a basket of currencies as expectations that U.S. interest rates will stay higher for longer take hold. Much of the greenback's strength has been driven by Treasury yields, which have soared to 16-year highs, based on the resilience of the U.S. economy in the face of the Federal Reserve's interest rate rises since March 2022. ....
Oil prices ease as global growth concerns weigh on energy demand despite Saudi Arabia's output cut pledge. Economic factors and dollar strength impact crude market. ....