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The U.S. dollar faced struggles on Tuesday, marked by impatient investors awaiting progress on expected U.S. trade deals. Asian currencies took a breather after an unprecedented two-day rise, emphasizing the dollar's fragility. The yen saw the dollar drop 0.57% to 142.87, while the British pound gained 0.56% to $1.3371.Jane Foley, head of FX strategy at Rabobank, noted a decline in last week's optimism linked to potential trade deals. Market participants are growing concerned about company warnings regarding economic damage from tariffs. Recent investor optimism about potential U.S. deals slashing...

Asian currencies turbocharged by dollar weakness are attaining rarely seen superlatives and triggering central bank intervention to curb excessive gains.The Hong Kong Monetary Authority on Friday sold a record amount of local dollars to prevent its advance and protect the currency’s 42-year-old peg to the greenback. Taiwan’s central bank also intervened as its currency soared the most since 1988. The offshore yuan rallied to its strongest since November.The volatility shows how an exodus from the world’s reserve currency can ripple through financial markets, as President Donald Trump’s shifting tariff policies...

The yen advanced past the psychological level of 140 against the dollar as investors sought alternatives to the greenback amid increasing risks for US assets.With the independence of the Federal Reserve under threat, heightened unease from tariffs and a looming meeting between the finance chiefs of Japan and the US, the yen broke through resistance to appreciate as much as 0.7% to 139.90 per dollar. That was its strongest level since September and made it the best performer among Group-of-10 currencies on Tuesday. President Donald Trump’s trade war has boosted...

NEW YORK: Investors bought into safe havens such as the dollar, yen and Swiss franc on Monday as concerns about a global recession heightened following US President Donald Trump’s sweeping tariffs on trading partners. Global markets plunged on Monday, with Wall Street stocks trading lower after Asian shares sank, as investors wagered the mounting risk of a deep economic downturn could lead to a cut in US interest rates as early as May. The risk-sensitive Australian and New Zealand dollars, as well as the Swedish and Norwegian crowns, all dropped...

On Monday, the dollar hovered near a five-month low against major currencies as President Donald Trump's erratic trade policies and soft economic data took their toll. The euro, benefiting from domestic drivers, is faring better, last recorded at $1.0876. Despite slight dips, it's close to hitting its highest point since October 11.Similarly, the Japanese yen witnessed softness at 148.94 per dollar but remains stronger having recently peaked in five months. These movements have driven the dollar index, which tracks the U.S. currency against six major counterparts, to linger just...

Fears of a US recession may be exaggerated despite slowing growth, according to Steven Englander, Managing Director & Global Head of G10 FX Research & North American Macro Strategy at Standard Chartered Bank. While concerns persist over high interest rates and government spending, he believes economic data does not fully support a worst-case scenario.“We do think the economy is slowing, but nowhere near the pessimism that's being expressed,” Englander said.Falling energy prices and improving weather conditions could boost consumer spending in the coming months, potentially supporting growth. Englander expects the...

The U.S. dollar faced a decline against the Japanese yen on Monday, driven by fears of an economic slowdown and ongoing uncertainty concerning the Trump administration's trade policies. Investors' mounting concerns were compounded by a notable selloff on Wall Street.While the greenback faltered against the yen, it showed resilience by strengthening against currencies like the euro, Swiss franc, and sterling, as traders took profits from recent currency gains. Meanwhile, Wall Street noted a steep decline, with a significant drop in the Nasdaq as tech sectors suffered.Interest rate movements were...