The US dollar weakened against the euro on Friday on expectations of higher interest rates in the eurozone and a growing conviction that the US Federal Reserve would keep its rates on hold.
The euro rose to US$1.5611 around 9pm GMT, from US$1.5503 late on Thursday.
The dollar slipped to ¥107.25 from ¥107.97.
The US currency came under pressure during the day on speculation that US Federal Reserve policymakers would make no change in their monetary policy at a meeting on Wednesday despite mounting inflationary pressures.
“Various statements by [Fed] officials had supported the dollar over recent weeks, but market participants remain very uncertain whether the Fed will be able to raise rates,” analysts at Barclays Capital said in a client note.
“Even if members [of the Fed’s rate-setting committee] continue to stress inflationary concerns, the impact of their words is likely to be subject to diminishing marginal returns if unaccompanied by actions,” the analysts said.
At CMC Markets, Ashraf Laidi said the Federal Open Market Committee, while holding rates steady, could even highlight easing inflationary pressures.
In Britain the pound was somewhat stronger, riding on positive momentum from strong retail sales figures released on Thursday.
They showed that sales rose 3.5 percent last month from April, the fastest rate of growth since records began in 1986, despite an economic slowdown in Britain.
In late New York trading, the dollar was at 1.0350 Swiss francs, down from SF1.0452 late on Thursday.
The pound slipped to US$1.9764 from US$1.9725.
The Central Weather Administration (CWA) yesterday said it expected to issue a sea warning for Typhoon Fung-Wong tomorrow, which it said would possibly make landfall near central Taiwan. As of 2am yesterday, Fung-Wong was about 1,760km southeast of Oluanpi (鵝鑾鼻), Taiwan’s southernmost point, moving west-northwest at 26kph. It is forecast to reach Luzon in the northern Philippines by tomorrow, the CWA said. After entering the South China Sea, Typhoon Fung-Wong is likely to turn northward toward Taiwan, CWA forecaster Chang Chun-yao (張峻堯) said, adding that it would likely make landfall near central Taiwan. The CWA expects to issue a land
Taiwan’s exports soared to an all-time high of US$61.8 billion last month, surging 49.7 percent from a year earlier, as the global frenzy for artificial intelligence (AI) applications and new consumer electronics powered shipments of high-tech goods, the Ministry of Finance said yesterday. It was the first time exports had exceeded the US$60 billion mark, fueled by the global boom in AI development that has significantly boosted Taiwanese companies across the international supply chain, Department of Statistics Director-General Beatrice Tsai (蔡美娜) told a media briefing. “There is a consensus among major AI players that the upcycle is still in its early stage,”
The Central Weather Administration (CWA) yesterday said it is expected to issue a sea warning for Typhoon Fung-wong this afternoon and a land warning tomorrow. As of 1pm, the storm was about 1,070km southeast of Oluanpi (鵝鑾鼻), Taiwan’s southernmost point, and was moving west-northwest at 28 to 32kph, according to CWA data. The storm had a radius of 250km, with maximum sustained winds of 173kph and gusts reaching 209kph, the CWA added. The storm is forecast to pass near Luzon in the Philippines before entering the South China Sea and potentially turning northward toward Taiwan, the CWA said. CWA forecaster Chang Chun-yao (張峻堯) said
PREPARATION: Ferry lines and flights were canceled ahead of only the second storm to hit the nation in November, while many areas canceled classes and work Authorities yesterday evacuated more than 3,000 people ahead of approaching Tropical Storm Fung-wong, which is expected to make landfall between Kaohsiung and Pingtung County this evening. Fung-wong was yesterday morning downgraded from a typhoon to a tropical storm as it approached the nation’s southwest coast, the Central Weather Administration (CWA) said, as it issued a land alert for the storm. The alert applies to residents in Tainan, Kaohsiung, Pingtung and Taitung counties, and the Hengchun Peninsula (恆春). As of press time last night, Taichung, Tainan, Kaohsiung, and Yilan, Miaoli, Changhua, Yunlin, Pingtung and Penghu counties, as well as Chiayi city and county had
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