If worries about sterling were a factor preventing the Bank of England cutting interest rates too far ahead of the U.S. Federal Reserve, then Japan’s dollar-selling intervention may, weirdly, help keep its options open.
The dollar edged up on Wednesday, recouping some of the losses stemming from renewed bets on Federal Reserve rate cuts this year, while the yen weakened for a third day, keeping investors wary of the risk of intervention from Tokyo.
Oil prices fell on Wednesday as industry data showed a rise in crude and fuel inventories in the U.S. and as the U.S. dollar strengthened, signalling that demand for oil is coming under pressure.
Bitcoin price fell on Wednesday, further reversing a rebound seen over the weekend as persistent concerns over more regulatory scrutiny against the crypto industry kept traders largely wary of buying in.
Emerson Electric Co. (NYSE: NYSE:EMR) reported a stronger-than-expected performance for its second quarter, with adjusted earnings per share (EPS) and revenue surpassing analyst projections. EMR shares were up 0.9% in premarket trading.
