Currencies

The dollar slipped on Tuesday in thin, choppy trading after Federal Reserve Chair Jerome Powell struck a moderately dovish tone in his comments, suggesting that the U.S. central bank is more than likely to start its easing cycle later this year.Brendan Mcdermid | ReutersThe yen sank to a fresh 38-year low against the U.S. dollar and a record trough versus the euro on Wednesday, as the Japanese unit continued its downward spiral, with market participants on high alert for Japan intervention to boost the currency.The dollar, on the other hand,...

Unlock the US Election Countdown newsletter for freeThe stories that matter on money and politics in the race for the White HouseThe writer is professor of economics and political science at the University of California, BerkeleyThe fate of the dollar — like much else — turns on the outcome of this November’s US presidential vote. On this everyone agrees. They just don’t agree on the direction of the turn.The implications of a victory for Democrats are relatively uncontroversial. The dollar has been strong in recent years because President Joe Biden has championed...