Bullish US dollar bets hit $40 billion, highest in over a decade
Why it matters: Traders now expect at least one Fed rate hike this year after the dollar climbed 2% in June.
Subject
#US Dollar
Hong Kong dollar nears 7.85 weak limit as carry trades build
Why it matters: A wider US-Hong Kong rate gap and falling Hibor are raising the odds of Hong Kong Monetary Authority intervention.
Gold steadies near $4,000 after sliding into bear market
Why it matters: A stronger dollar and higher-rate bets have pushed bullion more than 20% below its January peak near $5,600.
Dollar hits 1-year high as Fed hike bets build, yen nears 1986 low
What's new: Futures imply an 85% chance of a quarter-point Fed hike by September, while Japan weighs possible currency intervention.
Singapore dollar seen rising 2.4% by year-end despite Fed hike bets
What's next: May inflation data due June 23 could shape a July MAS tightening move that would support the currency.
Hong Kong funding squeeze dulls dollar carry trade as Hibor climbs
Why it matters: higher Hibor could unwind bets against the Hong Kong dollar and raise mortgage costs in the city’s rate-linked market.
Indonesia reserves fall to $144.9 billion as rupiah hits new low
Why it matters: The fifth straight monthly drop came as Bank Indonesia spent reserves to support the currency and bond market.
China lets some banks pay above SOFR on corporate US dollar deposits
Why it matters: Higher yields could slow companies' yuan conversions and help cap the renminbi's 3% rise this year.