Dollar edges up ahead of ECB, BoE meetings

The dollar firmed slightly Wednesday as the US corporate earnings season got off to a positive start and investors awaited the next day's European and British central bank monetary policy meetings.

The euro bought $1.3061 around 2200 GMT, down from $1.3079 at the same time Tuesday.

The dollar climbed to 87.86 yen from 86.97 yen late Tuesday, and rose against the Swiss currency, to 0.9250 francs from 0.9241 francs.

"With no US data on the calendar today, the dollar traded higher against most of the major currencies," said Kathy Lien of BK Asset Management.

"So far US earnings have been slightly better than the market's lowered expectations and as a result, equities edged higher."

Wall Street stocks broke two days of losses with modest gains after Dow member Alcoa reported fourth-quarter earnings that topped expectations after the market close Tuesday.

The euro's weakening came ahead of the European Central Bank and Bank of England policy meetings, with neither expected to take any fresh action to ease monetary policy despite weak economic growth.

Even so, traders keenly awaited what ECB president Mario Draghi would say at his first news conference of the new year.

"Comments from ECB President Draghi at the post-monetary policy meeting press conference could save or sink the euro," Lien said.

At last month's meeting, Draghi appeared to open the door to further rate cuts, revealing there had been "wide discussion" of such a move on the decision-making governing council and that the decision to keep rates on hold was anything but unanimous.

Amid expectations that the Bank of England will sit tight amid stubbornly high British inflation and easing global economic strains, the pound fell to $1.6023 from $1.6053 late Tuesday.

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.2582+0.00010.00%
    USDSGD=X
    1.74020.000.00%
    EURSGD=X
    2.11380.000.00%
    GBPSGD=X
    81.3016+0.0096+0.01%
    SGDJPY=X
    6.1624-0.00030.00%
    SGDHKD=X
    2.5983-0.00010.00%
    SGDMYR=X
    9,219.8564-36.1699-0.39%
    SGDIDR=X
    4.9667-0.00020.00%
    SGDCNY=X
    1.16520.000.00%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,293.70+3.10+0.24%
    GCM14.CMX
    19.64-0.05-0.24%
    SIK14.CMX
    91.62-1.25-1.35%
    ^XAU
    3.120.00-0.05%
    HGK14.CMX
    101.91+0.47+0.46%
    CLM14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.74+0.03
    ^FVX
    2.690.00
    ^TNX
    3.460.00
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.123+0.001+0.82%
    B22.SI
    0.15+0.008+5.63%
    545.SI
    0.635+0.040+6.72%
    5WH.SI
    0.615+0.005+0.82%
    E5H.SI
    1.355+0.005+0.37%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    20.00+4.200+26.58%
    K6S.SI
    1.215+0.190+18.54%
    S53.SI
    0.415+0.045+12.16%
    570.SI
    1.345+0.130+10.70%
    5DA.SI
    0.154+0.014+10.00%
    5GD.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.053-0.059-52.68%
    5TF.SI
    1.62-0.520-24.30%
    N02.SI
    0.20-0.020-9.09%
    E94.SI
    0.179-0.013-6.77%
    567.SI
    0.30-0.020-6.25%
    508.SI