The Canadian dollar weakened against its U.S. counterpart as expectations for an aggressive Federal Reserve rate hike bolstered the greenback, overshadowing support from rising crude oil prices.
Citigroup has closed its position in the Norwegian Krone versus the Swedish Krona (NOK/SEK) to lock in profits as the currency pair approaches a significant historical technical barrier, according to a note from the bank.
The U.S. dollar strengthened against major currencies as Treasury yields crossed 5% and traders priced in a near-certainty of a Federal Reserve rate increase this week, pressuring the euro and yen.
German short-term borrowing costs have climbed to a fresh peak as traders price in a prolonged monetary tightening cycle from the European Central Bank, fueled by rising energy prices and coordinated global central bank action.
The Canadian dollar fell against the greenback on Tuesday as the inflationary impact of soaring oil prices and rising U.S. Treasury yields overshadowed traditional support from higher crude. Markets are awaiting a key interest rate decision from the U.S. Federal Reserve.
The pound sterling lost ground against the U.S. dollar following a disappointing UK employment report, with currency markets increasingly focused on an anticipated interest rate hike from the U.S. Federal Reserve.
The U.S. dollar climbed for a sixth straight day after the Federal Reserve raised interest rates as expected, while the British pound weakened following a report showing U.K. inflation accelerated in August.
Eurozone government bond yields remained near their highest levels in over a decade on Wednesday, with traders taking a defensive stance ahead of a pivotal U.S. Federal Reserve monetary policy announcement.
The pound sterling fell against a strengthening U.S. dollar as investors braced for a Federal Reserve rate hike, while UK inflation figures for August failed to support a more hawkish Bank of England stance.
