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Dollar slides as recent rally takes a pause, may have seen short-term peak

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3 years ago

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Dollar slides as recent rally takes a pause, may have seen short-term peak

The dollar fell on Monday, posting its biggest one-day drop since November, as investors consolidated gains after hitting 1-1/2-year highs on Friday on expectations the Federal Reserve will accelerate the pace of interest rate hikes.

With the Federal Reserve making clear last week that it intends to raise rates as early as its March 15-16 policy meeting, Wall Street banks now expect five to seven rate hikes this year.

Fed funds futures priced in less than five rate hikes in 2022, or about 121 basis points of tightening, late Monday. They also showed a 17% chance of a 50 basis point rate hike in March, down from 32% on Friday.

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Atlanta Fed President Raphael Bostic, a non-voter on the Federal Open Market Committee, said in an interview with the Financial Times over the weekend that if inflation remains high , the Fed may extend the rate hike to half a percentage point.

The dollar index fell 0.7% on the day, its best one-day percentage gain in two months. In January, the dollar gained nearly 1%.

“The dollar’s dominance is largely priced in as the Fed now appears poised to raise rates 5-7 times this year,” Edward Moya, senior market analyst at OANDA, wrote in a research note.

He added that the dollar could start to “underperform compared with advanced economies that have become more aggressive in tightening policy.”

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Investors are also eyeing Friday’s U.S. nonfarm payrolls data for the Federal Reserve’s positivity in tightening policy. U.S. jobs are expected to increase by 153,000 jobs in January, down from 199,000 in December, with the unemployment rate steady at 3.9 percent, according to a Reuters poll. [EM]

“The dollar appears to have peaked for now, as Friday’s jobs report is expected to show another month of tepid hiring,” said Joe Mannybo, senior market analyst at Western Union Business Solutions in Washington.

The faster pace of rate hikes is also seen as dampening future growth expectations, as is the case in bond markets, where the spread between 2-year and 10-year U.S. Treasury yields fell below 59 basis points for the first time since early November. It is a phenomenon known as “flattening a bear market”. [we/]

Among other currencies, the Australian dollar led gains, rising 1% to $0.7068 ahead of the Reserve Bank of Australia’s policy meeting on Tuesday.

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USD/JPY was down 0.2% at 115.045 yen.

The Bank of England will also hold a policy meeting on Thursday, with the Bank of England set to raise interest rates for the second time in less than two months after British inflation rose to its highest level in nearly 30 years, a Reuters poll showed.

Sterling was last up 0.4% at $1.354

The European Central Bank is also meeting on Thursday. While no change in policy is expected, analysts said the imminent Fed rate hike would narrow the ECB’s window for action.

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The euro was last up 0.8% at $1.1240, its biggest one-day percentage gain in two months.

Complete News Source : Business Standard

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

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3 weeks ago

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January 30, 2025

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

Akshay Kumar and Priyadarshan, the acclaimed Indian director, celebrated their 68th birthday on Instagram. Kumar, who has worked with Priyadarshan on several cult comedies of the early 2000s, wished him a happy birthday and called him a mentor. The duo is now back together for their upcoming horror-comedy, Bhooth Bangla.

The first poster of the movie has been released, and it is expected to hit theaters in 2025. Akshay Kumar wore a black fedora and a green jacket, layered over a black tee, and fans have expressed their excitement for their new movie.

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The duo’s dynamic and deep bonding have been praised by fans, who have expressed high anticipation for their new movie. The first poster of Bhooth Bangla has already been released, and the movie is expected to hit theaters in 2025.

Akshay Kumar, the versatile Bollywood actor, recently celebrated director Priyadarshan’s birthday by sharing a behind-the-scenes (BTS) photograph from their upcoming film, “Bhooth Bangla.” In the image, Akshay humorously captioned, “Surrounded by ghosts…” The photo features Akshay alongside Priyadarshan and co-actor Paresh Rawal, all dressed in traditional attire, with a black cat perched on Akshay’s shoulder, adding a whimsical touch to the scene.

Reunion After 14 Years

This collaboration marks a significant reunion between Akshay Kumar and Priyadarshan, who last worked together on the film “Bhool Bhulaiyaa” in 2007. Their partnership has been celebrated in the past for delivering successful comedies like “Hera Pheri” and “Garam Masala.” Fans have eagerly anticipated their return to the big screen together, and “Bhooth Bangla” promises to be a delightful addition to their repertoire.

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About ‘Bhooth Bangla’

“Bhooth Bangla” is a horror-comedy that blends elements of suspense with humor, a genre in which both Akshay Kumar and Priyadarshan have excelled. The film is produced by Balaji Telefilms Ltd in association with Cape of Good Films. The motion poster released earlier this year features Akshay Kumar in a suit, with a cat on his shoulder, licking milk slyly, setting the tone for the film’s intriguing and humorous premise.

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Anticipation and Fan Reactions

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The BTS photo shared by Akshay Kumar has generated excitement among fans, who are eager to see the trio back together on screen. The playful caption and the presence of the black cat suggest that “Bhooth Bangla” will offer a mix of thrills and laughs, staying true to the successful formula of their previous collaborations.

As the release date for “Bhooth Bangla be a significant highlight in the upcoming entertainment lineup. The reunion of Akshay Kumar, Priyadarshan, and Paresh Rawal, combined with the intriguing premise and the playful BTS moments, has set high expectations among audiences. Fans can look forward to a cinematic experience that promises both chills and chuckles.

For a visual glimpse into the making of “Bhooth Bangla,” you can watch the following video Akshay Kumar expressed his gratitude as they once again united for their upcoming movie Bhooth Bangla. This marks a new chapter in their long-standing collaboration since the 2000s. He shared a picture from behind the scenes of their new movie, where it seems like they are laughing about something.

Akshay wrote,”Happy Birthday, Priyan Sir! What better way to celebrate than by spending the day on a haunted set, surrounded by ghosts…both real and unpaid extras? Thank you for being a mentor, and the only person who can make chaos look like a masterpiece. May your day be filled with fewer retakes. Wishing you a fantastic year ahead!”

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