Dollar knocked from 20-year high; yuan slide pauses



By Tom Westbrook

SINGAPORE, May 17 (Reuters) - The dollar fought for a footing on Tuesday and the tumbling Chinese yuan found a floor as investors trimmed bets on whether U.S. interest rate rises will drive further dollar gains.

The greenback has edged from a two-decade high this week and was a touch softer across the board in early Asia trade, while U.S. bond yields have pulled back slightly as traders reckon aggressive near-term hikes will drag on longer-run U.S. growth.

The euro EUR=EBS rose about 0.1% on the dollar to $1.0446 and the Australian and New Zealand dollars lifted about 0.1% and are off multi-year lows.

China's yuan CNH=D3 was steady at 6.7953 per dollar in offshore trade, and seems to be finding a base after sliding more than 6% in a month.

Hopes for an end to Shanghai's strict COVID-19 lockdown has offset poor April economic data and traders are also encouraged by more signs of policy support.

China cut mortgage rates for first-home buyers over the weekend and on Monday, sources told Reuters that authorities had asked some financially healthy property developers to sell bonds in order to help boost market sentiment.

"Dollar/CNH has been a big driver of G10 currencies," said Chris Weston, head of research at brokerage Pepperstone in Melbourne, referring to offshore yuan. He added that a pause in its slide as well as a calming of markets' volatility generally has paused dollar gains, for now.

"A lot has been priced in and we're not getting any new news from Fed officials," he said. "I think people are just taking some of that money off the table at the moment."

Sterling GBP=D3 has bounced about 1.5% from a two-year hold and was steady at $1.2328 on Tuesday. The yen JPY=EBS held at 129.115 and is holding above a two-decade trough.

The U.S. dollar index =USD dipped marginally to 104.100 and is about 0.8% below Friday's 20-year peak of 105.100.

Global interest rate expectations are also growing more hawkish.

The gap between 10-year German DE10YIL=RR and U.S. real yields US10YTIP=RR has narrowed by more than 30 basis points this month and central banks in Britain and Australia have raised rates.

Minutes from the Reserve Bank of Australia's May meeting are due later in the day as are public appearances from several Federal Reserve officials, including Chairman Jerome Powell at 1800 GMT.

The Australian dollar AUD=D3 last bought $0.6976 and the New Zealand dollar NZD=D3 $0.6309.

========================================================

Currency bid prices at 0116 GMT Description

RIC

Last

U.S. Close Pct Change

YTD Pct

High Bid

Low Bid

Previous

Change

Session

Euro/Dollar

EUR=EBS

$1.0442

$1.0435

+0.07%

-8.15%

+1.0455

+1.0429 Dollar/Yen

JPY=EBS

129.1150

129.0800

+0.12%

+12.35%

+129.2800 +128.9550 Euro/Yen

<EURJPY=EB 134.81

134.71

+0.07%

+3.45%

+135.1300 +134.5000

S>

Dollar/Swiss

CHF=EBS

1.0018

1.0027

-0.10%

+9.81%

+1.0022

+1.0013 Sterling/Dollar GBP=D3

1.2326

1.2321

+0.05%

-8.85%

+1.2337

+1.2321 Dollar/Canadian CAD=D3

1.2836

1.2848

-0.09%

+1.53%

+1.2853

+1.2829 Aussie/Dollar

AUD=D3

0.6981

0.6972

+0.15%

-3.95%

+0.6990

+0.6968 NZ

NZD=D3

0.6312

0.6309

+0.01%

-7.82%

+0.6323

+0.6308 Dollar/Dollar

All spots FX= Tokyo spots AFX= Europe spots EFX= Volatilities FXVOL= Tokyo Forex market info from BOJ TKYFX



World FX rates Link



Reporting by Tom Westbrook; Editing by Christopher Cushing

Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.

Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.

Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.

Gumagamit kami ng cookies para mabigyan ka ng mahusay na karanasan sa aming website. Magbasa pa o palitan ang iyong cookie settings.

Babala sa Risk: Maaaring malugi ang iyong kapital. Maaaring hindi nababagay sa lahat ang mga produktong naka-leverage. Mangyaring isaalang-alang ang aming Pahayag sa Risk.