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Apr 6, 2015

Dollar turns higher in late trade, thin conditions

NEW YORK, April 6 (Reuters) – The U.S. dollar spiked higher
against the euro on Monday, erasing early losses in what traders
and strategists said is a result of thin holiday trading
conditions.

A dismal U.S. jobs report on Friday had cast a pall over the
greenback in the last two trading sessions, both of which
excluded much of Europe and Latin America markets due to the
Easter holiday.

Apr 6, 2015

Dollar dips in Easter holiday trade, jobs data overhang

NEW YORK, April 6 (Reuters) – The dollar cut early losses on
Monday but continued to feel the carry-over effects of a
disappointing U.S. jobs report from Friday that throws into
question the timing for a U.S. interest rate increase.

Expectations the U.S. Federal Reserve will raise interest
rates sometime later this year has fuelled the dollar’s rally
since mid-2014. Higher U.S. interest rates will put
dollar-denominated assets at a yield advantage versus other
currencies such as the euro and yen where interest rates are
being kept low.

Apr 6, 2015

Dollar drop tied to dismal jobs data, Easter holiday trade

NEW YORK (Reuters) – The dollar weakened further on Monday as it continues to feel the carry-over effects of a disappointing U.S. jobs report from Friday that throws into question the timing for U.S. interest rate increase.

Expectations the U.S. Federal Reserve will raise interest rates sometime later this year has fueled the dollar’s rally since mid-2014. Higher U.S. interest rates will put dollar-denominated assets at a yield advantage versus other currencies such as the euro and yen where interest rates are being kept low.

Apr 3, 2015

Big miss on U.S. jobs data drives dollar down

NEW YORK (Reuters) – The dollar tumbled on Friday after a significantly weaker-than-expected U.S. jobs report that will increase speculation over whether the U.S. Federal Reserve holds off tightening monetary policy for longer than expected.

U.S. employers added the fewest jobs in more than a year in March amid signs the economy has been hurt by the dollar’s climb to multi-year highs.

Apr 2, 2015

Dollar mixed, euro rises before U.S. jobs report, holiday

NEW YORK (Reuters) – The dollar turned mixed on Thursday, finding spotty support from solid U.S. data that suggested the U.S. labor market continues to strengthen despite signs of an economic slowdown in the first quarter.

A rally for the euro against the dollar and yen was seen being dictated by investors taking profits on recent greenback strength heading into the long Easter holiday weekend that will be punctuated by the important March U.S. employment report on Friday.

Mar 31, 2015

U.S. dollar increases share of central bank FX reserves -IMF

NEW YORK, March 31 (Reuters) – The U.S. dollar increased its
share of allocated international reserves to 62.9 percent among
global central banks in the fourth quarter, data from the
International Monetary Fund showed on Tuesday.

The total amount of allocated foreign exchange holdings
shrank by 1.6 percent to $6.085 trillion from the prior quarter.
Overall foreign exchange holdings by the world’s central banks
slipped 1.41 percent to $11.6 trillion.

Mar 31, 2015

U.S., Japan have ‘significant gaps’ on auto market access: U.S. official

NEW YORK (Reuters) – Acting Deputy U.S. Trade Representative Wendy Cutler said on Monday that “significant gaps” in the trade negotiations remain between the United States and Japan regarding access for U.S. automobiles in the Japanese market.

“Japan has zero tariffs on autos and trucks, and yet access to the Japanese automotive market is limited. There is an array of non-tariff barriers in Japan that have effectively closed the Japanese auto market to U.S. producers,” Cutler said in prepared remarks on the Trans-Pacific Partnership trade negotiations delivered at the Japan Society in New York.

Mar 22, 2015

Insight – Sovereign issuers seek to thwart Argentina-style attacks by funds

NEW YORK (Reuters) – Government bond issuers are adopting new standards intended to thwart a strategy that’s plagued Argentina for 13 years, in which buyers snap up distressed debt for pennies on the dollar and then hold out for full payment after other investors have agreed to restructure.

Since August, as many as 12 of 22 recent emerging market issuers including Kazakhstan and Mexico have inserted language in their bond prospectuses that makes it prohibitively expensive for a single holdout to block a restructuring settlement that the majority of creditors may have accepted. This week Ecuador, which defaulted in 2009, issued new bonds that incorporate the language, developed by the International Capital Markets Association.

Mar 22, 2015

Sovereign issuers seek to thwart Argentina-style attacks by funds

NEW YORK, March 22 (Reuters) – Government bond issuers are
adopting new standards intended to thwart a strategy that’s
plagued Argentina for 13 years, in which buyers snap up
distressed debt for pennies on the dollar and then hold out for
full payment after other investors have agreed to restructure.

Since August, as many as 12 of 22 recent emerging market
issuers including Kazakhstan and Mexico have inserted language
in their bond prospectuses that makes it prohibitively expensive
for a single holdout to block a restructuring settlement that
the majority of creditors may have accepted. This week Ecuador,
which defaulted in 2009, issued new bonds that incorporate the
language, developed by the International Capital Markets
Association.

Mar 20, 2015

Ukraine expects to issue U.S.-backed debt by end of April – finance minister

NEW YORK (Reuters) – Ukrainian Finance Minister Natalia Yaresko said on Friday she has begun meeting with the embattled nation’s main creditors and expects to issue $1 billion (678 million pounds) in U.S. government-backed debt by the end of April as part of a larger IMF-backed loan package.

“People are taking U.S. government risk in this case. That is why they give a credit guarantee, otherwise we wouldn’t have access to the market at this time,” Yaresko told Reuters in an interview before speaking to the Council on Foreign Relations in New York.

    • About Daniel

      "Senior Correspondent covering global financial markets, investing and foreign policy. I'm New York-based with 20+ years of experience in text, TV and radio. My current post lets me roam across all asset classes and geography, from the developed to the emerging markets. I've reported and taught journalism in Asia, Europe, Latin America and the United States."
      Joined Reuters:
      1997
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