Dollar steadies ahead of Jackson Hole meetings
London
The dollar has dropped 14 per cent against the euro this year, driven by a collapse in expectations for tax cuts and other pro-growth moves by the Trump administration that has weakened the case for further rises in US interest rates.
But the US central bank remains the only of the world's big monetary authorities to have begun raising rates and it is also seeking to rationalise the huge stores of securities it has built while pumping cash into the economy in the past eight years.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
DBS customers unable to log into digibank, PayLah! on Thursday
NYSE-parent ICE’s revenue misses as muted IPO markets offset record energy trading
Amazon bets big with CrowdStrike on cybersecurity products
Goldman Sachs scraps EU-era bonus cap for top bankers in UK: source
Thomson Reuters lifts 2024 forecast on first quarter revenue result
US: Wall St opens higher after Fed leaves interest rates alone