* FX volatility drops to lowest since February 2020 * Traders watch for evidence of prolonged inflation * Bitcoin steady after biggest rally in four months By Kevin Buckland TOKYO, June 10 (Reuters) - The dollar hovered near a five-month low versus major peers on Thursday as investors looked to U.S. inflation data and a European Central Bank meeting later in the day to provide a spur for lacklustre currency markets. Investors have adopted a wait-and-see attitude all week, sucking volatility from the market and leaving major currencies mostly range-bound. The dollar index has fluctuated narrowly around the psychologically important 90 level, and was last at 90.206 - not too far from last month's low of 89.533, a level not seen since early January. The euro rose to a one-week high at $1.2218 on Wednesday only to finish little changed, and was mostly flat at $1.21635 in Asia. The yen traded at 109.565 per dollar, also little changed from Wednesday and near the middle of the 109.19-110.325 range of the past two weeks. Deutsche Bank's Currency Volatility Index languished at its lowest level since February 2020. The U.S. Labor Department's consumer prices data has been much anticipated after last month's report showed consumer prices increased by the most in nearly 12 years in April. That has stoked bets that higher prices could last longer than some anticipate, potentially calling into question the Federal Reserve's insistence that current inflation pressures are transitory and monetary stimulus should stay in place for some time yet. Economists polled by Reuters estimated the CPI advanced 0.4% in May. Westpac analysts side with Federal Open Market Committee (FOMC) officials in the inflation debate, and don't expect a taper of the central bank's asset-purchase programme until the second half of next year. They forecast the dollar index will drop to 87.30 at that time, before then grinding higher again "as U.S. monetary tightening takes effect," according to a research note. "The FOMC is clearly fixated on the need to restore 'maximum employment,' even if that comes at a cost," the note said. While the greenback has kept to tight ranges in the run-up to the CPI report, benchmark 10-year Treasury yields - which helped drive the dollar index to a multi-year high earlier this year - have taken a sizeable step lower in the past week and were at 1.4806% in Asia from as high as 1.6350% on Friday. "It feels like the balance of risk is tilted to the upside on U.S. CPI versus the consensus, which would favour a sell-off in Treasuries - (and thus) higher yields - and subsequently a stronger USD," Chris Weston, head of research at brokerage Pepperstone in Melbourne, wrote in a note to clients. "Bonds seem overbought." With the ECB, investors will be watching for any clues of an imminent slowdown to its bond-buying program. While the ECB is widely expected to keep policy settings steady, the euro could be sensitive to changes in the bank's economic forecasts or any signal that the pace of bond buying could be reduced in months ahead. In crypto markets, bitcoin held gains from its biggest rally in four months on Wednesday, when it jumped nearly 12%. It last traded largely unchanged at $36,709.67, after rebounding from a three-week low of $31,025 hit on Tuesday when signs of institutional investor caution and regulatory attention drove selling. The best-known digital token has struggled since reaching a record $64,895.22 in mid-April. "It was looking pretty dicey," but "bitcoin has impressively held onto $33,700," wrote Pepperstone's Weston. "It needs to push into $39,460 and the top of the recent range to really attract, but we will need to see a break here for the bulls to feel we’re out of this period of vulnerability." ======================================================== Currency bid prices at 0545 GMT Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Euro/Dollar $1.2164 $1.2179 -0.10% -0.43% +1.2181 +1.2163 Dollar/Yen 109.5600 109.6450 -0.06% +6.09% +109.6750 +109.5400 Euro/Yen Dollar/Swiss 0.8959 0.8960 +0.01% +1.28% +0.8963 +0.8958 Sterling/Dollar 1.4106 1.4114 -0.06% +3.25% +1.4124 +1.4105 Dollar/Canadian 1.2115 1.2110 +0.04% -4.87% +1.2123 +1.2108 Aussie/Dollar 0.7734 0.7731 +0.05% +0.55% +0.7739 +0.7722 NZ 0.7181 0.7178 +0.12% +0.07% +0.7187 +0.7165 Dollar/Dollar All spots Tokyo spots Europe spots Volatilities Tokyo Forex market info from BOJ (Reporting by Kevin Buckland; Editing by Christopher Cushing and Lincoln Feast.)
Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting
Sometimes, following a leader makes the best investment strategy. And corporate insiders have long been popular leaders to follow. Their combination of responsibility to their stockholders and access to ‘under the hood’ information on their companies gives their personal investment choices an air of authority. The most important thing about these insiders is that whatever else they do, they are expected to shepherd their companies to profitability. Shareholders want a return on investment, Board
- Yahoo Finance
Quality is on sale in the stock market. You interested in buying?
(Bloomberg) -- China’s capacity to maintain stability in its financial markets is being tested by the Federal Reserve’s sudden hawkish shift.Beijing has repeatedly voiced concern that liquidity-fueled bubbles overseas would burst when monetary conditions finally started to tighten. Bullish speculation domestically already prompted intervention by Chinese authorities, particularly in commodities. As such, a move by the Fed that starts to head off such a risk would be welcomed by the Communist Par
Understand who ultra-high-net-worth individuals are and how they invest. Discover which six investment mistakes the ultra-wealthy avoid.
MLPs or Master limited partnerships are a unique investment that combines the liquidity of securities with the tax benefits of an LP. Learn how they work and which ones to consider.
(Bloomberg) -- For 110 years, four generations of Mills family members earned their money by expanding their great-grandfather’s Chicago apron business into a medical supplier that ranked among the nation’s largest private companies.But soon after Democrats turned their attention toward raising taxes for the wealthy this year, the family signed a deal to cash out billions.It was no coincidence, according to people close to the more-than $30 billion transaction, which sold part of Medline Industr
- NBC News
In the airline's 50-year history, it has never had a single layoff or furlough — even during the coronavirus pandemic.
The IPO activity this year continues a heavy momentum built up last year – when despite the corona crisis and the economic dislocations, the market saw record breaking IPO activity, with 407 new public offerings. It’s an example of the stock market’s dynamism, and the confidence of both company managers and investors that stocks are the place to find returns. This brings us to Goldman Sachs. The banking firm’s stock analysts have been looking for the equities primed to gain in current conditions
- Insider Monkey
In this article we will take a look at 10 cheap dividend stocks with high yields. You can skip our detailed analysis of dividend investing in 2021 and go directly to see 5 Dividend Stocks with High Yields. Dividend investing is a practice ingrained in investor circles, with many prospective investors constantly on the lookout […]
(Bloomberg) -- The biggest U.S. banks, led by JPMorgan Chase & Co. and Bank of America Corp., are expected to pay out $142 billion in capital to shareholders after clearing this year’s stress tests.One year after the Federal Reserve capped stock buybacks and dividends, the central bank is poised to lift remaining Covid-19 restrictions for lenders that perform well on this year’s exams when results are announced Thursday.All six of the biggest U.S. banks -- a group that also includes Citigroup In
Top Ranked Income Stocks to Buy for June 22nd
- Insider Monkey
In this article we discuss the 10 best dividend stocks to buy now according to billionaire Leon Cooperman. If you want to skip our detailed analysis of Cooperman’s history and hedge fund performance, go directly to the 5 Best Dividend Stocks to Buy Now According to Billionaire Leon Cooperman. Billionaire Leon Cooperman, who oversees Omega Advisors, […]
If it seems like the rich know something about money that the rest of us don't, it's probably because they do. There must be some reason the richest 1% of people now hold more than 40% of the world's...
The enhanced child tax credit is designed to give parents financial relief to help deal with fallout from the COVID-19 pandemic, but many might not know that the credits don't represent free money,...
The prospect of an upcoming stock market correction might be scary for investors, but most financial experts say there's no need to panic or worry -- if you make the right moves. See: AARP's CEO Says...
- Insider Monkey
In this article, we discuss the 13 stocks to buy amid rising inflation. If you want to skip our detailed analysis of these stocks, go directly to the 5 Stocks to Buy Amid Rising Inflation. The increase in prices of items because of supply chain problems and rising demand have led to fears of inflation […]
The FDA’s recent approval of Biogen’s Aduhelm (aducanumab) has been a transformative event for the Alzheimer’s disease (AD) space. The go ahead from the regulators amounts to a first for a treatment addressing the underlying causes of the memory-decimating disease and opens the previously locked door for others to enter. Cassava Sciences (SAVA) is one such name hoping to make its mark in the space, and going by the data available so far, the company’s AD candidate simufilam appears to be very pr
(Bloomberg) -- Bill Ackman said he has already re-engaged with a potential target for his remaining blank-check company after reaching a deal to buy a 10% stake in Universal Music Group before its spinoff from Vivendi SE this year.As part of the deal announced Sunday with Vivendi, investors in Ackman’s blank-check company, Pershing Square Tontine Holdings Inc., will not only receive shares in Universal Music but will also retain common stock in Ackman’s remaining blank-check company, which he re
These businesses could increase the resilience of your portfolio
There is possibly an endless list of things you shouldn't do with your money. But from bad habits to decisions based on wishful thinking, some of the bigger missteps can really cost you. To find out...