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 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...