Fed holds rates steady, expects portfolio cuts ‘relatively soon’

Federal Reserve officials said they would begin running off their $4.5 trillion balance sheet “relatively soon” and left their benchmark policy rate unchanged as they assess progress toward their inflation goal. The start of balance-sheet normalization — possibly as soon as September — is another policy milestone in an...


Dollar index near 13-month low as U.S. political turmoil weighs, euro buoyant

The dollar struggled near a 13-month low against a basket of major currencies on Monday as U.S. political turmoil dampened hopes for quick passage of President Donald Trump’s stimulus and tax reform agendas and the euro extended gains. The Trump administration, already dogged by investigations into alleged Russian meddling...


Dollar’s decline, China optimism cheer Asia stocks, commodities

The dollar stayed on the defensive on Wednesday as investors wagered any further tightening in the United States would be slow at best, while optimism on China’s economy underpinned Asian shares and commodities. The U.S. currency was near multi-month lows after the collapse of the Republicans’ push to overhaul...


Dollar nurses losses, China data beats forecasts

The dollar huddled near a 10-month trough on Monday as the diminished risk of aggressive U.S. policy tightening sent investors piling into leveraged positions in higher yielding currencies or risky assets. Sentiment got an added boost after Chinese economic data handily topped forecasts with second-quarter gross domestic product rising...


Dollar pressured by Trump Jr emails, focus on Yellen testimony

The dollar edged down to 14-month lows against the euro in Asian trading on Wednesday as investors, already wary ahead Federal Reserve Chair Janet Yellen’s testimony, digested emails released by President Donald Trump’s eldest son suggesting he welcomed Russia’s help in last year’s election campaign. Yellen will give her...


U.S. consumer spending rises modestly, inflation cools

U.S. consumer spending rose modestly in May and inflation cooled, pointing to a slow-but-steady economic expansion that could still lead the Federal Reserve to raise interest rates by the end of the year. The data, released by the Commerce Department on Friday, bolstered the view that the U.S. economy...