The central bank is not normally in the business of easing into an economy that is showing few signs of a recession, generally holding fire until more pronounced signs of a...The Fedread more
His case for gold comes as central banks get more aggressive with policies that devalue currencies and are about to cause a "paradigm shift" in investing.Marketsread more
CSX said it expects revenue to fall as much as 2% in 2019, well below a previous forecast of an increase of 1% to 2%.Marketsread more
Challenging conditions in the U.S. housing market, along with tighter currency controls by the Chinese government, cause a stunning drop in foreign demand for American homes.Real Estateread more
The growth in net interest income, a main engine of the industry's profit, looks to slow to a halt in the back half of this year.Banksread more
Here's how Amazon sells ads, and why it has a natural edge over Google and Facebook in some areas.Technologyread more
Netflix reports earnings Wednesday as it loses licensed shows to rivals launching their own streaming services.Technologyread more
Federal Judge William Pauley wrote in a court filing made public Wednesday that materials related to Cohen's campaign-finance probe should be unsealed — and denied a request...Politicsread more
The "'Cadillac tax," set to go into effect in 2022, is unpopular with both Republicans and Democrats, who say it punishes the middle class.Health and Scienceread more
Facebook's head of Calibra David Marcus is grilled during a House Financial Services Committee hearing over the company's digital currency plans.Technologyread more
Gov. Phil Murphy of New Jersey announced a lawsuit against the IRS and Treasury Secretary Steven Mnuchin, responding to new, final rules from the IRS that would largely block...Personal Financeread more
The U.S. dollar fell broadly on Monday, as currencies battered by trade tensions between the United States and China staged a comeback after leaders from the two countries declared a truce on tariffs.
China's yuan and several trade-dependent currencies made strong advances against the greenback as investors sold the safe-haven U.S. currency and bought up riskier assets.
China and the United States agreed to a ceasefire in their bitter trade war on Saturday after high-stakes talks in Argentina between U.S. President Donald Trump and Chinese President Xi Jinping.
The offshore yuan gained about 1 percent to 6.8813, while the Aussie - viewed as a barometer of Chinese growth - was 0.7 percent higher against the greenback.
"It's pretty much a sigh of relief across the board," said Brad Bechtel, global head of FX at Jefferies, in New York.
Emerging market currencies, which have suffered in recent months amid increased trade-related tensions, advanced and MSCI's index for emerging currencies was up -0.2 percent.
Bechtel pointed to the U.S. 10-year Treasury yield drifting below 3 percent briefly, trade tension relief and a rebound in commodities as helping emerging markets currencies gain a stronger footing in recent days.
"It's one of those markets where we have had a slew of news to basically calm some of the tensions built up over several weeks and that's now just being sort of unwound a little bit," he said.
Bechtel, however, warned that investors should treat the latest trade developments with caution.
"You always have to take it with a grain of salt because at any moment a tweet or headline of some sort could knock things off kilter," he said.
The dollar index, which measures the greenback against a basket of six major currencies, was 0.4 percent lower. The euro was 0.2 percent higher against the greenback.
With trade tensions taking a back seat for the moment, investors' attention is likely to turn to U.S. monetary policy, analysts said.
The Federal Reserve is expected to raise interest rates again later in December but recent comments from central bank officials about how many more hikes are needed in the current cycle have hurt the dollar in recent sessions.
Sterling gave up all its early gains and dived to its lowest level since the end of October as growing concerns about British parliamentary approval for a proposed Brexit deal prompted investors to sell the currency.