The British pound on Friday crashed to its lowest level against the U.S. dollar since 1985 –– hitting $1.13 in the early hours of London trading. Sterling GBPUSD, -0.56% plummeted Read more
Tag: Money/Currency Markets
Any doubt Fed will raise rates by 75 basis points next week is gone after hot U.S. inflation data
Any doubt that the Federal Reserve will raise its its benchmark interest rate by 0.75 percentage point next week is gone, economists said, following the hot U.S. consumer price inflation Read more
Bitcoin slips below $20,000 following Powell’s hawkish remarks
The price of bitcoin dipped below $20,000 over the weekend, after Federal Reserve Chairman Jerome Powell warned on Friday that interest rates will keep rising. Bitcoin BTCUSD, -1.39% fell roughly Read more
Fed’s Powell says bringing down inflation will cause pain to households and businesses in Jackson Hole speech
Federal Reserve Chairman Jerome Powell used the spotlight on the central bank’s Jackson Hole retreat to deliver a blunt message that the Fed will keep at the job of bringing Read more
Euro returns to parity vs. the dollar as energy price spike raises eurozone economy fears
The euro fell below parity against the dollar again as traders dumped the single currency amid renewed fears surging energy costs would cause recession in Europe. The buck’s bounce was Read more
U.S. stocks open lower as traders brace for volatility amid monthly options expiration
U.S. stocks opened lower on Friday as traders braced for more volatility with more than $2 trillion in equity-linked options contracts set to expire. How are stock-index futures trading? The Read more
Federal Reserve officials back moving interest rates higher in order to slow the economy, minutes show
Federal Reserve officials in July agreed that it was necessary to move their benchmark interest rate high enough to slow the economy to combat inflation that remained well above their Read more
New York Empire State factory gauge plunges in August deep into contraction territory
The numbers: The New York Fed’s Empire State business conditions index, a gauge of manufacturing activity in the state, plummeted 42.4 points to negative 31.3 in August, the regional Fed Read more
New York Empire State factory gauge plunges in August deep into contraction territory
The numbers: The New York Fed’s Empire State business conditions index, a gauge of manufacturing activity in the state, plummeted 42.4 points to negative 31.3 in August, the regional Fed Read more
Bitcoin tops $25,000 level for first time since early June
The price of bitcoin briefly hit $25,000 on Sunday for the first time since June. After testing that level several times in recent days before retreating, bitcoin BTCUSD, +1.89% surged Read more