· The dollar rose on Friday, hitting 10-week-highs against the yen, as risk appetite improved amid a more upbeat outlook on some major economies of the world and the prospect of a trade deal between China and the United States.
The dollar index, a gauge of the currency's value against six major currencies, rose 0.4 percent on Friday, posting its largest daily percentage gain in two weeks.
In afternoon trading, the dollar index rose 0.36 percent to 96.51. For the month of February, the dollar index was up 0.4 percent. The dollar was also supported by data on Thursday showing U.S. gross domestic product grew at an annual 2.6 percent rate in the fourth quarter, exceeding forecasts for a 2.3 percent gain.
Benchmark 10-year U.S. Treasury yields have risen about nearly 10 basis points this week, the highest weekly increase in four months. The yield surged to 2.759 percent on Friday, a four-week high.
The dollar was up 0.52 percent against the yen at 111.95 yen after hitting a 10-week peak, its best daily increase since Feb. 11.
Sterling was also down 0.55 percent versus the dollar at $1.3192, its largest percentage fall in roughly three weeks.
The euro, meanwhile, slipped 0.1 percent against the greenback at $1.1359.
· President Donald Trump reiterated his criticism of the Federal Reserve's monetary policy and said it is promoting a strong U.S. dollar, possibly at the expense of the U.S. economy, during a nearly two-hour speech at the Conservative Political Action Conference on Saturday.
"America is now booming like never before," Trump said. "Other countries are doing very poorly. That makes it even harder for us to be successful. Plus, we have a gentleman that likes raising interest rates in the Fed," he said, referring to Federal Reserve Chair Jerome Powell.
"We have a gentleman that loves quantitative tightening in the Fed. We have a gentleman that likes a very strong dollar in the Fed. So with all of those things — we want a strong dollar but let's be reasonable — with all of that we're doing great. Can you imagine if we left interest rates where they were? If we didn't do quantitative tightening? I want a dollar that's great for our country but not a dollar that's prohibitive for us to be doing business with other countries."
· U.S. President Donald Trump said on Saturday that North Korea does not have any economic future with nuclear weapons as the Pentagon confirmed the United States and South Korea had agreed to end joint large scale spring military exercises.
It is not possible that the European Union will offer Britain a long delay to Brexit because of upcoming European elections, British trade minister Liam Fox said on Sunday.
Fox said it was still “entirely possible” Britain leaves the bloc as scheduled on March 29 but an extension to the Article 50 negotiating period may be necessary in order to deliver a smooth exit from the bloc.
· Prime Minister Theresa May will on Monday set out plans for a 1.6 billion pound fund to help to boost economic growth in Brexit-supporting communities, particularly in the north of England.
The “Stronger Towns Fund”, details of which appeared in newspapers last month, is seen by many as part of May’s efforts to win support for her Brexit deal from Labour MPs who represent areas that voted strongly in favour of leaving the European Union.
· Irish Prime Minister Leo Varadkar has told Cabinet colleagues that a delay of Britain's exit date from the European Union from March 29 to June is "very likely", Ireland's Sunday Independent quoted an unnamed minister as saying.
· British businesses reported their weakest growth in nearly six years during the past three months due to fears of a no-deal Brexit and rising global trade barriers, the Confederation of British Industry said on Sunday.
The CBI's index of private-sector activity over the past three months dropped to -3 in February from zero in January.
· The House Judiciary Committee will seek documents from more than 60 people and organizations as it begins investigations into possible obstruction of justice and abuse of power by President Donald Trump, the panel’s chairman said on Sunday.
As evidence of obstruction, Nadler cited Trump’s May 2017 firing of FBI Director James Comey, who was leading an investigation into Russia activities in the 2016 U.S. presidential election and possible collusion with Trump’s campaign.
· Oil prices reversed course on Friday, falling 2 percent as bearish U.S. manufacturing data stoked concerns over global energy demand growth.
The ISM manufacturing activity index in February sank to the lowest since November 2016, and was below expectations.
U.S. West Texas Intermediate futures fell $1.42, or 2.5 percent, to settle at $55.80 a barrel. The contract had earlier hit a high of $57.88. Global benchmark Brent crude futures for May fell $1.32 to $64.99 a barrel, after earlier touching a session high of $67.14.
· Oil prices firmed on Monday as the United States and China were reported to be close to signing a trade deal, ending a tit-for-tat tariff row that has roiled financial markets and clouded the outlook for the global economy.
International Brent futures were at $65.25 a barrel at 0022 GMT, up 18 cents, or 0.3 percent, from their last close. Brent fell 1.5 percent on Friday.
U.S. West Texas Intermediate (WTI) crude futures were at $56.05 per barrel, up 25 cents, or 0.5 percent. WTI futures fell 2.5 percent on Friday.
Reference: CNBC, Reuters
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