the U.S. central bank

Gold hit another fresh record high yesterday as investors grow confident that the Federal Reserve will cut interest rates this year, even after data showed a slight uptick in a key inflation report.

The precious metal has enjoyed healthy buying interest this year as the U.S. central bank hints at an easing of credit conditions.

Stock markets fell yesterday as traders took a step back following last week's rally, with Federal Reserve officials looking to temper expectations the U.S. central bank will cut interest rates several times next year.

Traders in markets are looking ahead to the Federal Reserve's summer conference for signs of whether the U.S. central bank thinks inflation is under control or more interest rate hikes are needed to cool inflation.

Fed officials have used the Jackson Hole, Wyoming, conference in previous years to indicate changes in policy direction.

The U.S. Federal Reserve raised its benchmark lending rate on July 26 to the highest level since 2001 to tackle above-target inflation, and signaled it could hike again later this year amid improving economic prospects.

The dramatic implosion of Silicon Valley Bank (SVB) last week could bring the Federal Reserve's current cycle of interest rate hikes to an end far sooner than many analysts expected.

Slowing inflation and a cooling property sector are fueling expectations that the U.S. central bank can adopt a smaller interest rate hike this week, as policymakers assess current efforts to rein in prices.

The U.S. Federal Reserve is pegged to make a fourth straight steep hike in the key interest rate this week as it battles surging costs, with its aggressive stance fueling expectations of a recession.

American households have been squeezed by soaring consumer prices, propelling economic issues to the top spot among voter concerns in upcoming midterm elections.

The United States economy remains strong but a series of aggressive rate hikes meant to cool soaring inflation could eventually trigger a recession, Federal Reserve Chair Jerome Powell has cautioned.

Red-hot U.S. inflation is showing few signs of cooling, putting the Federal Reserve on track to continue its aggressive interest rate increases to help cool high prices that are challenging Joe Biden's presidency.    

The yen hit its lowest level against the dollar in two decades yesterday, extending recent falls as the gap widens between Japan's ultra-loose monetary policy and U.S. tightening.

Despite being traditionally considered a safe-haven currency, uncertainty fueled by the war in Ukraine has not caused the yen to strengthen.