Dollar backed ahead of Fed meeting; sterling retreats
- The U.S. dollar edged higher in early European trade Monday, helped by a safe-haven bid as tensions rise in the Middle East, while sterling retreats ahead of this...
- The U.S. dollar edged higher in early European trade Monday, helped by a safe-haven bid as tensions rise in the Middle East, while sterling retreats ahead of this...
Asset managers, including financial services giant UBS, merged a number of funds over the past week and closed others.
-- Most Asian currencies firmed on Monday, while the dollar retreated before a Federal Reserve meeting this week that is likely to yield more cues on the bank’s plans...
According to BlockBeats, the CME FedWatch Tool indicates a 95.9% probability that the Federal Reserve will keep interest rates unchanged in August. There is a 4.1% chance of a 25 basis point rate cut.Looking ahead to September, the probability of maintaining the current interest rate drops to 0%. The likelihood of a cumulative 25 basis point rate cut stands at 85.8%, while the chances of a cumulative 50 basis point cut are 13.8%. The probability of a cumulative 75 basis point cut is 0.4%.
-- Gold prices rose in Asian trade on Monday, recovering more ground from a rout through most of July as focus turned to an upcoming Federal Reserve meeting where the central bank is expected to provide more cues on interest rate cuts.
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