Dollar holds its ground as selloff drags down Aussie, bitcoin



(Updates prices)

By Iain Withers

LONDON, Jan 21 (Reuters) - The dollar was on track for its best week in a month against major rivals on Friday, as the world's reserve currency held its ground amid a selloff of riskier assets across markets.

Investor sentiment has soured in recent days due to weaker economic data, rampant inflation and concerns over the pace of U.S. Federal Reserve policy tightening.

Stock markets dropped in Europe on Friday, following the trend set in Asia and on Wall Street overnight.

The dollar index - which tracks the greenback against six major peers - edged 0.1% lower on the day to 95.691 but was on course for a 0.5% weekly gain, its best performance since mid-December. =USD

Currencies seen as riskier bets including the Australian and New Zealand dollars lost ground, while those seen as safe havens such as the Japanese yen and Swiss franc strengthened.

"The strength of the U.S. dollar today certainly looks more like the pattern you would expect in a typical period of risk-off," currency analysts at MUFG said in a note.

"It was inevitable that if equity markets continued to decline, this more normal G10 FX pattern would emerge."

The Aussie and Kiwi both fell more than 0.5% versus the dollar, last at $0.71890 and $0.67220. AUD=D3 NZD=D3

In cryptocurrencies, bitcoin was also dragged lower, falling as much as 6% to $38,250 - its lowest since August. BTC=BTSP

The Swiss franc strengthened as much as 0.6% to 0.91170 franc per dollar, while the yen gained as much as 0.4% to 113.625 yen per dollar. Both lost some momentum in later trading, last up 0.4% and 0.2% respectively. CHF=EBS JPY=EBS

Poor retail sales in Britain added to a recent flow of weaker economic data. Sales slumped 3.7% in December as consumers did much of their Christmas shopping earlier and many stayed home due to the Omicron coronavirus variant.

The pound fell a quarter of a percent versus the dollar to $1.35570, and as much as 0.5% versus the euro to 83.61 pence per euro. GBP=D3 EURGBP=D3

The dollar eased on Friday as U.S. Treasury yields slipped back after a recent sharp rise that was fuelled by expectations that the Federal Reserve will tighten monetary policy at a faster pace than anticipated.

Markets are pricing in as many as four rate hikes this year, starting from March and expect the Fed to start trimming its $8 trillion-plus balance sheet within months. The U.S. central bank meets next week to determine the timeline for tightening policy.

While the prospect of multiple rate rises should support the dollar, the index remains flat on the year.

"You would think higher interest rates would lead to a stronger dollar. But if you are told rates will go up soon and balance sheets shrink from July, why would you buy now. Just wait and then go into the higher rate structure," said Mike Kelly, global head of multi-asset at PineBridge Investments.



World FX rates Link



Reporting by Iain Withers, additional reporting by Sujata Rao
in London and Kevin Buckland in Tokyo; Editing by Hugh Lawson
and Susan Fenton

Isenção de Responsabilidade: As entidades do XM Group proporcionam serviço de apenas-execução e acesso à nossa plataforma online de negociação, permitindo a visualização e/ou uso do conteúdo disponível no website ou através deste, o que não se destina a alterar ou a expandir o supracitado. Tal acesso e uso estão sempre sujeitos a: (i) Termos e Condições; (ii) Avisos de Risco; e (iii) Termos de Responsabilidade. Este, é desta forma, fornecido como informação generalizada. Particularmente, por favor esteja ciente que os conteúdos da nossa plataforma online de negociação não constituem solicitação ou oferta para iniciar qualquer transação nos mercados financeiros. Negociar em qualquer mercado financeiro envolve um nível de risco significativo de perda do capital.

Todo o material publicado na nossa plataforma de negociação online tem apenas objetivos educacionais/informativos e não contém — e não deve ser considerado conter — conselhos e recomendações financeiras, de negociação ou fiscalidade de investimentos, registo de preços de negociação, oferta e solicitação de transação em qualquer instrumento financeiro ou promoção financeira não solicitada direcionadas a si.

Qual conteúdo obtido por uma terceira parte, assim como o conteúdo preparado pela XM, tais como, opiniões, pesquisa, análises, preços, outra informação ou links para websites de terceiras partes contidos neste website são prestados "no estado em que se encontram", como um comentário de mercado generalizado e não constitui conselho de investimento. Na medida em que qualquer conteúdo é construído como pesquisa de investimento, deve considerar e aceitar que este não tem como objetivo e nem foi preparado de acordo com os requisitos legais concebidos para promover a independência da pesquisa de investimento, desta forma, deve ser considerado material de marketing sob as leis e regulações relevantes. Por favor, certifique-se que leu e compreendeu a nossa Notificação sobre Pesquisa de Investimento não-independente e o Aviso de Risco, relativos à informação supracitada, os quais podem ser acedidos aqui.

Usamos cookies para lhe dar a melhor experiência no nosso website. Ler mais ou alterar as configurações de cookies.

Aviso de risco: O seu capital está em risco. Os produtos alavancados podem não ser adequados para todos. Recomendamos que consulte a nossa Divulgação de Riscos.