Dollar supported before Fed meeting, Brexit delay in focus

By Stanley White TOKYO (Reuters) – The dollar traded near the highest in more than two months versus the yen on Monday ahead of a U.S. Federal Reserve meeting this week where policymakers are expected to cut interest rates but emphasize their reluctance to ease policy further. Sterling edged lower versus the dollar and the euro, with an agreement expected later on Monday to delay Britain’s divorce from the…

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Argentines Pull Dollar Deposits From Banks Before Election

Price Action Scalping EA

(Bloomberg) — Explore what’s moving the global economy in the new season of the Stephanomics podcast. Subscribe via Pocket Cast or iTunes. “How much?” That was the greeting that bank tellers gave to clients at one teller window on Friday morning in downtown Buenos Aires. In the last day that Argentines had to pull dollar deposits or buy greenbacks with their devalued pesos, lines were visible outside several branches…

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Forex – Sterling Falls as Brexit Extension Uncertain

Investing.com – The pound was lower on Friday as confusion over whether or not the U.K. will leave the European Union next week continued, as the EU failed to reach an agreement on a Brexit extension. The U.K. had asked the EU for an extension. U.K. lawmakers voted in principle for a Brexit deal on Tuesday but pushed against Prime Minister Boris Johnson’s timetable for passing a Brexit deal…

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Market Expert: China’s Thirst for Government Bonds Wont Last

Price Action Scalping

Bond investors in China have a seemingly unquenchable thirst for government bonds, but the latest sell-off might appear that the well for sovereign debt has run dry. However, one market expert feels this is an opportune time to buy into Chinese debt for their attractive valuations. Per a Bloomberg report, the “yield on benchmark 10-year sovereign debt is up 20 basis points since a three-year low on Sept. 6, ranking…

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Japan factory activity shrinks at quickest pace since 2016 in October: flash PMI

TOKYO (Reuters) – Japanese factory activity shrank at the fastest pace in over three years in October, largely hurt by slumping new orders and output, in yet another sign of broadening economic cracks in the face of slowing global demand and trade frictions.FILE PHOTO: A man walks past a factory at the Keihin industrial zone in Kawasaki, south of Tokyo, Japan, August 18, 2016. REUTERS/Kim Kyung-Hoon The weak reading…

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Billionaire investor Jeffrey Vinik closes hedge fund less than a year after its relaunch

Forex News

Jeffrey Vinik, the billionaire investor who relaunched his hedge fund earlier this year, is cutting his comeback tour short. “It has been much harder to raise money over the last several months than I anticipated,” Vinik said in a letter dated Wednesday to investors. The Wall Street Journal first reported the news. CNBC later confirmed it. “The climate for raising long-short equity hedge fund assets has been far more difficult than…

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Pound pauses for breath on Brexit limbo, US dollar stable

HONG KONG (Reuters) – The British pound stabilised on Thursday as the Brexit project entered a fresh holding pattern, while the dollar held firm as traders took a breather from Sino-U.S. trade headlines. Currency markets are also sticking to tight ranges ahead of key central bank meetings this week and next with the euro zone, Japan and United States due to review policy. Sterling held at $1.2911 after Britain’s…

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