Analysts say the partial U.S.-China trade deal doesn't touch on thorny issues plaguing both sides, and warn talks could break down again.World Economyread more
"The Champagne should probably be kept on ice, at least until the two presidents put pen to paper," said state-owned media China Daily.Traderead more
Economists polled by Reuters had expected Chinese exports denominated in the U.S. dollar to fall by 3% and imports to decline by 5.2% in September, compared to a year ago.China Economyread more
The U.K. and EU are gearing up for what could be the busiest week in British politics since June 2016.Europe Politicsread more
"It seems like what the two leaders have done is try to set some of the thorny political issues to the side," said Dhruva Jaishankar, director of the U.S. Initiative at the...Asia Politicsread more
The U.S. had plans to hike duties on at least $250 billion in Chinese goods to 30% from 25% on Tuesday. Despite the partial trade deal, some banks on Sunday wrote that tariff...Marketsread more
The industry has pulled in $322 billion over the past six months, the fastest pace since the second half of 2008.Marketsread more
The United States has cleared the final procedural hurdle in order to impose tariffs on billions of dollars of European products later this month.World Economyread more
A technical recession occurs when there are two consecutive quarters of economic contraction.Asia Economyread more
"Deepfakes" are being used to depict people in fake videos they did not actually appear in, and can potentially affect elections, diplomacy and how markets move, experts say.Technologyread more
Chinese President Xi Jinping warned on Sunday that any attempt to divide China will be crushed.China Politicsread more
The dollar climbed on Wednesday, nearing a 3 1/2-month high against the , as investor optimism about the greenback rose ahead of major announcements on U.S. fiscal and monetary policy after strong economic data.
The Federal Reserve kept U.S. overnight interest rates unchanged and highlighted "solid" economic growth at the conclusion of its two-day policy meeting. Analysts said the Fed's statement indicated that a rate hike next month is overwhelmingly likely.
Boris Schlossberg, managing director of FX Strategy at BK Asset Management, said the statement was the Fed's latest clue to the market that it planned to begin a cycle of interest rate increases rather than just a "one-and-done" hike.
"As that begins to disseminate to the market, thats going to be dollar positive," he said.
The Fed's decision followed strong data releases on the U.S. economy. The ADP National Employment survey showed private employers added 235,000 jobs in October, surpassing estimates for 200,000 and setting up expectations for a strong U.S. nonfarm payrolls report on Friday.
The ADP number was the latest in a string of strong data releases on the U.S. economy that have backed the Federal Reserve's stance that weakness in reports earlier this year was transitory.
"There's a lot of positivity in the air," said Juan Perez, a currency strategist at foreign exchange company Tempus in Washington.
Perez pointed to recent positive readings on U.S. gross domestic product, consumer confidence, housing prices and inflation data. Additionally, no other central bank is seen as likely to raise rates in the near term, except for the Bank of England, an expectation which has already been priced into the market.
The market also is focused on President Donald Trump's tax reform plans, which are expected to be revealed soon, and his pick for Fed chair, slated for Thursday.
The dollar rose 0.5 percent against the yen, hovering below its highest since mid-July.
The greenback rose 0.6 percent against the Swiss franc, nearing its highest since mid-May.
The euro fell to $1.1618.
The New Zealand dollar rose as much as 1.2 percent to a one-week high after data showed the country's jobless rate had sunk to a nine-year low.
Bitcoin, which has more than doubled in price since mid-September, touched another all-time high, hitting $6,622 on the European Bitstamp exchange, boosted by bets that it could enter the financial mainstream after CME Group said it would launch bitcoin futures trading.