Currencies

The U.S. dollar edged higher in European trade Thursday, retaining recent strength ahead the release of more cues on U.S. interest rates in the form of producer inflation and retail sales data. 

The U.S. dollar steadied on Wednesday, retaining a bulk of its overnight gains after strong consumer inflation data furthered bets on higher-for-longer rates, while the British pound tread water before key GDP data.

Most Asian currencies moved in a limited range on Monday, while the dollar languished near two-month lows as markets awaited key U.S. inflation data for more cues on when the Federal Reserve will cut interest rates. 

The U.S. dollar edged higher in early European trade Friday, but was still on course for a hefty weekly drop as Federal Reserve Chair Jerome Powell signaled lower interest rates in coming months, while the euro slipped back from recent highs after the European Central Bank meeting. 

The yen hit a one-month high against the dollar on Thursday on growing speculation that the Bank of Japan could end negative interest rates this month, while bets that U.S. rate cuts could come by mid-year weighed on the greenback.

BUENOS AIRES (Reuters) – Argentina’s peso on the parallel informal market strengthened more than 1.5% against the U.S. dollar on Wednesday, breaking back below the 1,000 per dollar mark and reaching its strongest level since the end of December.

Bitcoin hit a record high on Tuesday, fueled by investors pouring money into U.S. spot exchange-traded crypto products and the prospect that global interest rates may fall.

Most Asian currencies kept to a tight range on Monday, while the dollar steadied from recent losses as markets awaited more cues on U.S. interest rates from the Federal Reserve and key payrolls data this week. 

The U.S. dollar showed resilience in early European trade Friday, retaining the majority of overnight gains after the release of eagerly-anticipated U.S. inflation data, while the euro showed some strength.

-The dollar tracked toward monthly gains on Thursday as European inflation data trickled in and ahead of highly-anticipated U.S. data, while the sliding yen made back some ground after a policymaker hinted at the need to exit ultra-easy policies.