The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
Powell said policymakers are concerned about some of the recent economic developments and see a growing case for easier policy.The Fedread more
The Fed chief said that despite reports that Trump was looking to demote or fire him, he doesn't plan on leaving anytime soon.The Fedread more
Federal Reserve Chairman Jerome Powell said on Wednesday that Facebook spoke to the central bank about the digital currency called LibraThe Fedread more
With bold and targeted steps, economists say, government can increase opportunity and incomes for many more people in ways that strengthen, not weaken, American capitalism.Politicsread more
If the Trump administration and Congress fail to reach a spending agreement, the White House will offer to keep the government funded at its current levels for a year, Mnuchin...Politicsread more
Resident "Fast Money" crypto expert Brian Kelly breaks down the major differences between bitcoin and Facebook's new cryptocurrency Libra.Fast Moneyread more
Oracle found revenue growth from cloud applications in its fiscal fourth quarter, which helped it surpass analysts' expectations.Technologyread more
For those who want more power, the new Gran Coupe comes with a brutish, 523-horsepower twin-turbo V-8.Autosread more
The vote makes Mexico the first of the three countries to win legislative approval for the trade agreement.Politicsread more
The dollar rose broadly on Tuesday as concerns about a possible escalation in trade conflict between the United States and China boosted safe-haven demand for the greenback and as investors dumped emerging market currencies.
The dollar index, which measures the greenback against a basket of six currencies, was up 0.31 percent at 95.45. It rose as high as 95.625, its highest since Aug. 24, earlier in the session.
"By the middle of last week we were looking at renewed trade tensions and we were looking at economic data supporting ideas of a Fed rate hike," said Marc Chandler, global head of currency strategy at Brown Brothers Harriman in New York.
"Where we are now is that the underlying dollar up-trend is resuming," he said.
The public comment period on a U.S. proposal for new tariffs on Chinese goods is set to end on Thursday, after which U.S. President Donald Trump can follow through on plans to impose tariffs on $200 billion more of Chinese imports, though it is unclear how quickly that will happen.
Chinese state-owned banks have swapped dollars for yuan in tenors ranging from a month to a year in the offshore forwards market in recent days, traders said on Tuesday, providing some support for the yuan as markets braced for a potential major escalation in the U.S.-China tariff war.
Meanwhile, U.S.-Canada trade talks ended on Friday with no deal to revamp the North American Free Trade Agreement after the mood soured, and President Donald Trump notified Congress of his intent to sign a bilateral trade pact with Mexico.
The Canadian dollar weakened to a six-week low against its U.S. counterpart amid an uncertain outlook for Canada's trading arrangement with the United States.
"My sense would be Trump is focused on Mexico, but he is not in any mood to compromise on Canada, Europe or China," said Chandler.
Emerging market currencies came in for special punishment as investors feared these export-oriented economies would be caught in the middle of any escalating trade conflict.
A JPMorgan emerging market currency index fell to its lowest since May 2017. The Turkish lira and the Mexican peso slipped against the dollar.
The pound sank to a one-week low on Tuesday on rising doubt among investors about the progress of Brexit talks and the future leadership of the Bank of England.