
Dollar retains strength against peers after Fed rate decision
The Fed kept its benchmark interest rate steady in the 4.25 per cent-4.50 per cent range, but said that the risks of higher inflation and unemployment had risen and that the U.S. economic outlook remains uncertain.
"They were a little more hawkish than a lot of the market expected and they didn't really change or water down any of the views on inflation being above average or the jobs market selling at a low level," said Marvin Loh, senior global market strategist at State Street in Boston.
"I still think we're in an extended hold period until data tells them that they need to do something and/or we get a lot more trade clarity," Loh added.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


CNA
4 hours ago
- CNA
South Korea seeks mutually agreeable US trade package as Aug 1 tariff deadline looms
SEOUL: South Korea will prepare a trade package that is mutually agreeable with the United States ahead of minister-level meetings planned next week and a US tariff-pause deadline of Aug 1, the presidential office said on Saturday (Jul 26). The package will include shipbuilding cooperation, a sector of high interest to US Commerce Secretary Howard Lutnick, who discussed the matter with South Korea's Industry Minister Kim Jung-kwan on Friday, it said in a statement. Friday's meeting was a follow-up to a meeting on Thursday, where Lutnick and Kim reaffirmed their commitment to reach a trade deal by Aug 1, after a joint meeting of finance ministers and top trade envoys that had been scheduled for Friday was postponed. South Korea, facing 25 per cent tariffs, is rushing to reach a trade deal with Washington, with National Security Adviser Wi Sung-lac visiting the US recently for high-level talks and Minister for Trade Yeo Han-koo also in the US for negotiations, as pressure grows on officials to clinch a deal that is no worse than Japan's that cut tariffs to 15 per cent. South Korea's trade negotiations with the US have included non-tariff barriers in the agricultural and digital service sectors, but foreign exchange has not been part of trade talks beyond usual consultations, according to South Korean officials. US President Donald Trump arrived in Scotland on Friday for bilateral talks with European Commission President Ursula von der Leyen on Sunday, which could yield a trade deal with the European Union, after making a deal earlier this week with Japan and the Philippines. Next week, US officials will hold a new round of trade talks with China in Sweden for an extension to a separate deadline of Aug 12 set between the two countries. South Korea's Finance Minister Koo Yun-cheol and Foreign Minister Cho Hyun will also hold meetings with US Treasury Secretary Scott Bessent and State Secretary Marco Rubio, respectively, next week.


CNA
9 hours ago
- CNA
Amorim prepared to reintegrate exiled Man Utd players if valuations not met
Manchester United manager Ruben Amorim has said he is prepared to reintegrate the club's exiled players into his squad if they cannot be sold for fees that match the valuations expected by the former Premier League champions. Alejandro Garnacho, Jadon Sancho, Antony and Tyrell Malacia have been excluded from the squad that has travelled to the United States for the club's pre-season tour with the quartet seeking transfers away from Old Trafford. But while they have had to work separately from the first team squad since United returned for training ahead of the new season, Amorim acknowledged he would be prepared to accept the players back into his squad should they not be sold. "Some players have to find a new place to have more space in the team and other players clearly show they want a new challenge and want new teams," Amorim told reporters in Chicago ahead of Saturday's pre-season meeting with West Ham United. "We are just allowing these players to have time to think and to decide. If we reach a point where they have to join the team, they will join the team because they are our players. "I'm ready to receive the players. They have more competition, more competition if you want to play in the World Cup next year, you need to play. "So I'm really happy with that because I have more options. If they have to fight each other to play, for me it's perfect." United have signed Matheus Cunha and Bryan Mbeumo so far in the transfer window, while England winger Marcus Rashford has left to join Barcelona on loan as Amorim's side looks to bounce back from a lowly 15th place finish in last year's league table. The club's financial situation is such that United need to sell players if they want to add to their squad. Chief Executive Omar Berrada and director of football Jason Wilcox are charged with finding buyers for their "bomb squad". "I know for a fact these people - Jason, Omar and the club - have a number for these players," said Amorim. "If they don't reach that, they will be Manchester United players, no doubt about that.
Business Times
13 hours ago
- Business Times
LVMH in talks to offload fashion label Marc Jacobs: sources
[NEW YORK] French luxury goods group LVMH is in discussions with multiple buyers to offload its fashion label Marc Jacobs, sources familiar with the matter told Reuters on Friday (Jul 25). The Bernard Arnault-led company has been holding talks with potential buyers, including Reebok-owner Authentic Brands Group and WHP Global, the sources said, who asked not to be named because the discussions are confidential. Authentic Brands declined to comment on the matte,r while WHP did not immediately respond. Brookstone's owner Bluestar Alliance is also a suitor for Marc Jacobs, which could be worth around US$1 billion, according to The Wall Street Journal (WSJ), which earlier reported the news. LVMH, Marc Jacobs and Bluestar Alliance did not immediately respond to requests for comments on the WSJ report. In 2024, Bloomberg reported that LVMH was exploring strategic options for the label with advisers after receiving interest from potential buyers, though the company denied the claim at the time. A NEWSLETTER FOR YOU Friday, 2 pm Lifestyle Our picks of the latest dining, travel and leisure options to treat yourself. Sign Up Sign Up Founded in 1984 by American designer Marc Jacobs, the luxury fashion brand is renowned for its eclectic, bold designs that blend high fashion with street style. In 1997, LVMH tapped Jacobs to lead the Louis Vuitton brand and acquired a stake in the designer's eponymous label. The Wall Street Journal said that a deal could be finalised soon, provided talks do not fall apart. LVMH has recently been offloading some of its brands to streamline its portfolio. Last year, it sold the Off-White clothing brand, founded in 2012 by the late Virgil Abloh, to the New York-based company Bluestar Alliance for an undisclosed value. Another label, Stella McCartney, earlier this year, repurchased the minority stake held by LVMH in the house she founded about five years after the luxury group bought it. McCartney, who famously does not use leather or fur, said it will continue to advise LVMH chief Arnault and the group's executive team on sustainability matters. Dealmaking in the luxury retail sector has drawn attention in Europe. Earlier this year, Prada acquired Versace from Capri Holdings, combining two iconic Italian fashion brands in a US$1.4 billion deal. LVMH's second-quarter sales, which include products such as Louis Vuitton handbags, Dior dresses and Moet & Chandon champagne, came in slightly below market expectations. The company's shares rose, with analysts pointing to hopes on the horizon as the group said it saw some signs of recovery in the key Chinese market. Deutsche Bank analyst Adam Cochrane said that while the second-quarter results were not 'stellar', there were some 'glimmers of hope'. French luxury brands have been navigating prolonged market challenges, including a downturn and the potential impact of US import tariffs. REUTERS