financetom
Economy
financetom
/
Economy
/
US Dollar Builds Gains After Redbook Index Rises Again
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US Dollar Builds Gains After Redbook Index Rises Again
May 29, 2024 6:44 AM

09:24 AM EDT, 05/29/2024 (MT Newswires) -- The US dollar added to gains over major counterparts like the euro and the British pound but remained softer against safe-havens like the Japanese yen and Swiss franc in early North American trade on Wednesday after the Redbook Index rose further for the recent week.

EUR/USD and GBP/USD fell back toward session lows around 1.2734 and 1.0836, respectively, while USD/JPY and USD/CHF eased from their highs but retained modest intraday gains over the greenback.

This was after the Redbook Index rose 6.3% for the week ending May 25 following a 5.5% increase in the prior week.

The US dollar's gain came as equity markets faltered across the board and government bond yields climbed.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
US financial regulators restart work on long-delayed compensation rules
US financial regulators restart work on long-delayed compensation rules
May 6, 2024
WASHINGTON (Reuters) - A trio of U.S. financial regulators have resumed work on a long-delayed rule-writing project to make executive compensation plans at financial firms more sensitive to risk. The Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency and Federal Housing Finance Agency jointly proposed the rule, which would bar incentive-based plans that do not account for...
Richmond Fed President Tom Barkin Says 'Optimistic' Restrictive Rates Can Lower Demand, Inflation
Richmond Fed President Tom Barkin Says 'Optimistic' Restrictive Rates Can Lower Demand, Inflation
May 6, 2024
01:08 PM EDT, 05/06/2024 (MT Newswires) -- The current level of interest rates is suitable to ease demand and lower inflation, but the Federal Open Market Committee can make adjustments as needed, Richmond Federal Reserve President Tom Barkin said Monday. I am optimistic that today's restrictive level of rates can take the edge off demand in order to bring inflation...
Fed's Barkin: Current rate level will cool demand, doesn't see
Fed's Barkin: Current rate level will cool demand, doesn't see "overheating"
May 6, 2024
COLUMBIA, South Carolina (Reuters) - The current level for the Federal Reserve's benchmark interest rate should cool the economy enough to return inflation to the central bank's 2% target, with the strength of the job market giving officials time to wait, Richmond Fed President Thomas Barkin said on Monday. I am optimistic that today's restrictive level of rates can take...
Fed's Williams says next Fed move likely to be lower rates
Fed's Williams says next Fed move likely to be lower rates
May 6, 2024
(Reuters) - Federal Reserve Bank of New York President John Williams said Monday that at some undefined point the U.S. central bank will lower its interest rate target. Eventually we'll have rate cuts but for now monetary policy is in a very good place, Williams said in comments made before the Milken Institute 2024 Global Conference in Beverly Hills, California....
Copyright 2023-2025 - www.financetom.com All Rights Reserved