Wall Street ends lower ahead of US data; greenback pressured by yen, yuan

Israeli embassy told to remove Facebook post that was an ‘astonishing attempt to rewrite history’, says Singapore’s law minister Shanmugam

The dollar dipped as the risk of yen intervention loomed and it came under pressure from China’s government-supported yuan rally.Wall Street focused on Boeing after the planemaker said its CEO Dave Calhoun will step down by year-end after a flurry of safety concerns. Year-on-year, headline and core PCE price indexes are expected to land at 2.5 per cent and 2.8 per cent, respectively, hovering within one percentage point of the Fed’s average annual 2 per cent target.

The pan-European STOXX 600 index rose 0.04 per cent and MSCI’s gauge of stocks across the globe shed 0.24 per cent. “China and Japan trying to shore up their currencies is a reflection of weakness in their economies, and they’re putting a band-aid on something that requires something more significant,” said Oliver Pursche, senior vice president at Wealthspire Advisors, in New York.The Japanese yen strengthened 0.02 per cent versus the US dollar at 151.46 per dollar, while Sterling was last trading at US$1.2635, up 0.27 per cent on the day.

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