The dollar surged on Friday to hit a six-week high against a basket of currencies as a bout of resilient economic data out of the United States raised market expectations that more interest rate hikes were in the offing. | Reuters
The euro was last 0.34 percent lower at $1.0635, having bottomed at $1.0632 earlier in the session, while sterling slid 0.32 percent to $1.1949.
“The U.S. economy, from recent data, shows that it’s still healthy. It doesn’t seem to be going into a recession any time soon,” said Tina Teng, market analyst at CMC Markets.Thursday’s reports followed data from earlier this week that showed robust growth in U.S. retail sales in January and signs of sticky inflation, stoking fears that the Federal Reserve would have to raise rates higher than previously expected.
The benchmark 10-year U.S. Treasury yield climbed to a top of 3.901 percent on Friday, its highest since Dec. 30.Fed officials have also signalled that the U.S. central bank has further to go in raising rates, with two policymakers saying on Thursday that it likely should have lifted interest rates more than the 25-basis-point hike earlier this month.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Carla Abellana says she’s happy with divorce from Tom RodriguezCarla Abellana is happy that Tom Rodriguez chose to file for divorce in the United States. On Thursday’s “Fast Talk with Boy Abunda,” Carla said she was relieved they chose that process instead of going through annulment in the Philippines. [1/2]
Read more »
Powerhouse United City withdraws from PFL amid financial issuesThe United City Football Club – formerly the home of Filipino stars like Stephan Schrock and naturalized player Bienvenido Marañon – withdraws from the Philippines Football League in the middle of a promising 2022-2023 season.
Read more »
Digital video viewing to top traditional TV in US—forecastFor the first time ever, US adults will spend more time this year watching digital video on platforms such as Netflix, TikTok and YouTube than viewing traditional television, Insider Intelligence forecast. | AFP
Read more »
Zambales fishers wary of possible VFA between PH, JapanLike the joint maritime patrols of the Philippines and the U.S. in the West Philippine Sea, the country’s possible Visiting Forces Agreement with Japan received mixed reactions from fishermen in Zambales. | joannaglibotINQ /PDI
Read more »
China says US balloons flew over Xinjiang, Tibet, warns of countermeasuresBEIJING — Diplomatic friction festered between the United States and China on Wednesday as Beijing charged that US high altitude balloons flew over its Xinjiang and Tibet regions and said it
Read more »