Sterling holds steady ahead of Brexit talks

Daily USD  JPY

Daily USD JPY

With inflation stubbornly soft despite a 16-year low in the US unemployment rate, the Federal Reserve should move only slowly to raise interest rates and trim its massive bond portfolio, Chicago Fed President Charles Evans said Monday."I don't want to get hung up over small differences" between whether the Fed raises rates two, three or four times over the course of 2017, Evans said in remarks prepared for delivery to Money Marketeers of New York University.

At 09:50 (AEST), the Australian dollar was buying 75.95 US cents.

The New Zealand dollar recovered some overnight losses after New York Federal Reserve President William Dudley signalled a willingness to gradually increase United States interest rates to support economic growth but the local currency remained range-bound ahead of the overnight dairy auction and the upcoming central bank rate decision and statement Thursday.

The common currency was steady at $1.11965 (EUR=EBS), retaining Friday's 0.5 percent gain. With economists widely expecting the bank to keep rates on hold at 1.75 percent, the short press release will be scoured for any clues on inflation expectations and any guidance on monetary policy. Britain and the European Union's chief negotiators began talks by stressing the need to quickly tackle uncertainties in the process and underlining their constructive attitude to reach a deal that is good for all.

US Fed hike rates for second time this year
The larger jumbo 30-year fixed nosed up to 4.00 percent, and the average 15-year fixed mortgage rate settled at 3.25 percent. KEEPING SCORE: Germany's DAX fell 0.6 percent to 12,727.14 while the CAC40 of France sank 0.8 percent to 5,202.60.

The dollar added 0.1 percent to 111.01 yen (JPY=), after touching a two-week high on Friday. That left it nearly 2.5 percent lower than an eight-month high hit in May on the view that Prime Minister Theresa May's Conservative party would increase its majority in elections on June 8, giving Britain a strong position to negotiate with the EU. It hit a low of $16.575 during the session, its weakest since May 19. It traded at 65.97 euro cents from 65.01 cents and 56.89 British pence from 56.96 pence yesterday.

Dow Jones closed up by 0.65 percent, S&P 500 ended up 0.81 percent, Nasdaq finished the day up by 1.38 percent.

The 10-year notes were last down 4/32 in price to yield 2.17 percent. US gold futures fell 0.4 percent to $1,251.6.

Spot gold was down 0.7 per cent at $US1,244.85 an ounce by 2:35 pm Monday EDT (0435 Tuesday AEST), after falling below the 100-day moving average to $US1,244.27, its lowest since May 17. BrentLCOcv1 settled 1 percent lower at $46.91.

Recommended News

  • Investor Barometer: Signal watch on Mitie Group PLC (MTO.L)

    Investor Barometer: Signal watch on Mitie Group PLC (MTO.L)

    Many consider the equity oversold if the reading is below -80 and overbought if the indicator is between 0 and -20. The Company is engaged in the property investment, development and trading, and the provision of vehicle parking.

    Trump's legal plan quite simple so far: Fight, fight, fight

    He was speaking on Fox News Sunday where specific questions about the alleged investigation were asked of him. He says there should at least be tapes of any telephone conversations between the president and Comey.

    British PM Theresa May To Meet Fire Survivors In Downing Street Residence

    They were reported missing by Catherine Lindsay - who was teaching them English - but the family has now been found. Footage from inside the gutted building has been released, showing the extent of the damage caused by the blaze.
  • A sense of OPEC divisions a blow to oil prices

    A sense of OPEC divisions a blow to oil prices

    Gasoline stocks rose by 3. 3 million bbl, compared with analysts' expectations in a Reuters poll for a 580,000 bbl gain. Qatar with a production capacity of about 600,000 barrels per day (bpd) is one of OPEC's smaller oil producing nations.
    Police acquittal worries black gun owners

    Police acquittal worries black gun owners

    Before Castile completed the sentence, Yanez interrupted and replied, "Okay" and placed his right hand on the holster of his gun. The squad auto video shows Yanez approaching Castile's vehicle and asking for a driver's license and proof of insurance.
    It's a massive boost for Pakistan cricket: Mickey Arthur

    It's a massive boost for Pakistan cricket: Mickey Arthur

    Fakhar, who scored his maiden ODI century in style with a four off the 31st over, was awarded Player of the Match. Whatever happened in the past has happened but he is the number one bowler in Pakistan cricket.
  • 76ers get No. 1 pick from Celtics, chance to draft Fultz

    If something for Butler can't be worked out, the team will likely focus its attention on signing Gordon Hayward of the Utah Jazz. However, it's testament to his own individual brilliance that his stock wasn't significantly affected by his team's performance.

    Tech CEOS visit White House to talk modernizing government

    According to the White House, the council's goal is "to explore how to transform and modernize government information technology". The council also seeks to boost the security of USA government IT systems and wants to learn from private-sector practices.
    Supreme Court to hear case that could reshape US political map

    Supreme Court to hear case that could reshape US political map

    The Supreme Court of the United States declared that it will hear arguments on Wisconsin's gerrymandered election maps. The case was then petitioned to the nation's high court, which announced Monday it will hear it in November.
  • Kei Nishikori earns rare win to reach quarterfinals again

    Earlier, third-seeded Simona Halep and fifth-seeded Elina Svitolina advanced and will face each other in the quarterfinals. Murray will be the favorite to win going into the match. "I am in semifinals with a very positive feelings", Nadal said.

    BJP Parliamentary Party Meet To Discuss Presidential Candidate Today

    The Shiv Sena earlier on Wednesday said that Bhagwat is the ideal candidate for president. Bhagwat, however, didn't show any interest whereas Swaminathan chose not to react.

    Former Obama aide on Cuba: Trump, GOP lawmakers don't believe in freedom

    As a result, the changes - though far-reaching - appear to be less sweeping than many U.S.pro-engagement advocates had feared. But the new measures are likely to have dampening effect on United States nationals traveling to Cuba .

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.