Thoughts in the currency market are turning toward the Plaza Hotel. The stately pile at the southeast corner of Central Park has a lasting place in American culture as the scene of Tom Buchanan’s confrontation with Jay Gatsby in The Great Gatsby; in the financial world, it has lasting fame as the place where world finance...Read More
Sept 29 (Reuters) – Federal Reserve policymakers will press ahead with raising U.S. borrowing costs to fight the corroding effects of too-high inflation, taking in stride both turmoil in global financial markets and early signs their actions are weakening the job market. “I’m quite comfortable” with raising interest rates to 4%-4.5% this year and 4.5%-5%...Read More
After days of silence, Liz Truss has finally faced questions on the UK financial market turmoil triggered by the government’s plans for sweeping tax cuts. The prime minister agreed to a series of interviews with local BBC radio stations on Thursday, while Chris Philp, Kwasi Kwarteng’s number two at the Treasury, also answered questions on...Read More
The rupee appreciated 35 paise to 81.58 against the US dollar in early trade on Thursday as the American currency retreated from its elevated levels. At the interbank foreign exchange, the domestic unit opened at 81.60 against the dollar, then touched 81.58, registering a gain of 35 paise over its previous close. In initial trade,...Read More
Home Depot, Boeing lead Dow higher All but one of the 30 Dow stocks are now in positive territory as the market average is up 600 points on the day. Home Depot is the best performer in the Dow, up more than 5%. Construction stocks could be a beneficiary of national disasters, like the hurricane...Read More
WASHINGTON, Sept 27 (Reuters) – Now more than ever, the strength of the U.S. dollar reflects the relative strength of the U.S. economy, White House economic adviser Brian Deese told reporters on Tuesday. “In a highly uncertain global environment … what we’re seeing is reinforcing the unique position of strength that the United States economy...Read More
CLICK TO ENLARGE PETALING JAYA: The interest rate differential in favour of the US dollar and safe haven status will continue to keep the currency strong until inflation expectations and interest rates projections top off and policymakers start to roll back measures. The ringgit closed lower at RM4.609 against the dollar yesterday after the runaway...Read More
Sept 27 (Reuters) – Weather disasters linked to global warming are increasingly reducing the productive capacity of the U.S economy and sapping resources from governments, U.S. Treasury Secretary Janet Yellen said on Tuesday, arguing for an accelerated transition to renewable energy. Yellen, in the latest of a series of campaign-flavored economic speeches touting Democratic President...Read More
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