U.S. Dollar Rebounds On Inflation Worries
CANBERA (dpa-AFX) - The U.S. dollar gained against its major counterparts in the European session on Wednesday, amid a pullback in European shares on growing inflation concerns and a possible policy tightening by the U.S. Federal Reserve.
Investors turn their attention to the minutes of the Federal Reserve s April monetary policy meeting, which could offer policymakers views on the recovery, inflation and potential timing of any monetary policy adjustments.
The Fed has repeatedly signaled that the recent increase in inflation largely reflected transitory factors and it intends to keep policy accommodative for some time to come.
By Reuters Staff
1 Min Read
WASHINGTON, May 18 (Reuters) - Federal Reserve Vice Chair Randal Quarles will tell lawmakers a strong economic recovery is underway in the United States, but is not yet complete.
In prepared testimony published on Tuesday, Quarles said some households and businesses remain vulnerable, although the broader economy is in the “last stretch of the return to normal.” (Reporting by Pete Schroeder; editing by Jonathan Oatis)
WASHINGTON (dpa-AFX) - Asian shares finished broadly higher, while European shares are trading lower on Thursday.Traders are also likely to keep an eye on the preliminary reading on first-quarter
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Dive Brief:
An announcement by the administrator of the London Interbank Offered Rate (LIBOR) that it will delay to mid-2023 the sunsetting of some of the most commonly used tenors of the benchmark rate widely reduced credit risk because it provides additional time for U.S. dollar exposures to decline and for issuers, structured finance deals and others to prepare for a switch to alternative reference rates, Moody’s Investors Service said in a report.
The U.K. Financial Conduct Authority on March 5 said the final fixings for most LIBOR rates including 1-week and 2-month U.S. dollar LIBOR will be made on Dec. 31, 2021, but other U.S. dollar tenors may continue until June 30, 2023.