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  • Business
    Reuters

    Dollar hovers near one-week high on hawkish Fed minutes; kiwi firm

    TOKYO (Reuters) -The dollar hovered near a one-week high on Thursday following its best day this month against its major peers after minutes of the last Federal Reserve meeting revealed a willingness to raise interest rates among some officials. The New Zealand dollar continued its climb as an unexpected rise in local retail sales added to hawkish guidance from the central bank a day earlier to push back bets for rate cuts. Fed officials at their April 30-May 1 session indicated they still had faith that price pressures would ease, if only slowly, but the meeting summary also reflected discussion of possible tightening.

  • Business
    Reuters

    Dollar higher against euro as Fed minutes support

    NEW YORK (Reuters) -The dollar rose against the euro on Wednesday after minutes of the last Fed meeting showed officials acknowledging disappointment over recent inflation readings, while the pound held its gains after British Prime Minister Rishi Sunak called for a general election for July 4. Federal Reserve officials at their last policy meeting indicated they still had faith price pressures would ease, if only slowly, according to the minutes of the U.S. central bank's April 30-May 1 session. "Participants ... noted that they continued to expect that inflation would return to 2% over the medium term," the minutes said, but "the disinflation would likely take longer than previously thought."

  • Business
    Reuters

    India cenbank net bought $13.25 billion in spot forex market in March, bulletin shows

    The Reserve Bank of India (RBI) bought a net $13.25 billion in the spot foreign exchange market in March, data released on Tuesday as part of the central bank's monthly bulletin showed. The Indian rupee weakened by 0.6% against the dollar in March, and had traded in a range of 82.64 to 83.45.