Analysis: Currencies

New BIS head stresses importance of central bank independence and accountability

LONDON -The new head of the Bank for International Settlements on Tuesday stressed the need for central banks to focus on inflation and, amid Donald Trump's escalating attacks on the Fed, for their...

Exclusive-US and Russian officials discussed energy deals alongside latest Ukraine peace talks

LONDON -U.S. and Russian government officials discussed several energy deals on the sidelines of negotiations this month that sought to achieve peace in Ukraine, according to five sources familiar...

Currencies: New bout of weakness

To hell with greed. Jerome Powell seems determined to loosen the purse strings by cutting rates in September. In Fed chairman terms, this translates as: The central scenario and the evolution of the...

Major brokerages pivot to Sept Fed rate cut on Powell's labor warning

Major brokerages, including Barclays, BNP Paribas and Deutsche Bank, now expect a 25-basis-point U.S. Federal Reserve rate cut in September following Chair Jerome Powell's shift in tone at Jackson...

Dollar rebounds from slump spurred by Powell's dovish surprise

NEW YORK -The dollar advanced against major currencies on Monday, bouncing from a steep fall last week that followed remarks from Federal Reserve Chair Jerome Powell that boosted expectations for a...

Russia orders state-backed MAX messenger app, a WhatsApp rival, pre-installed on phones and tablets

MOSCOW -A Russian state-backed messenger application called MAX, a rival to WhatsApp that critics say could be used to track users, must be pre-installed on all mobile phones and tablets from next...

Russian central bank official says further rate cut this year is not a foregone conclusion

MOSCOW -Russia's central bank may be able to cut its key interest rate from 18% this year if inflation slows rapidly, but it does not rule out holding it at that level in order to achieve a...

Dollar gains before key Powell speech at Jackson Hole on Friday

NEW YORK -The dollar gained on Thursday before a highly anticipated speech by Federal Reserve Chair Jerome Powell on Friday will be evaluated for any new clues on whether the U.S. central bank is...

Russia, under war spending pressure, set for more austerity, tax hikes

MOSCOW -Moscow is preparing to raise taxes and cut spending as it tries to maintain high defence expenditure with Russia's economy creaking under the weight of financing the more than three-year war...

Sterling edges up as inflation rises to highest in 1-1/2 years

LONDON -The British pound rose marginally against the dollar and euro on Wednesday after data showed inflation hit its highest in 18 months in July, with markets not fully pricing the next rate cut...

Swedish central bank keeps key rate on hold, could still cut this year

STOCKHOLM -Sweden's central bank held its key interest rate at 2.00% as expected on Wednesday and said it still sees some probability of a further rate cut this year as it tries to balance...

Oil flows resume to Hungary, Slovakia via Druzhba pipeline, officials say

Oil is once again flowing to Hungary and Slovakia via the Druzhba pipeline, officials from both countries said late on Tuesday, after a Ukrainian drone strike on an oil pumping station in Russia's...

Trading Day: Tech it down a notch

ORLANDO, Florida -TRADING DAY Making sense of the forces driving global markets By Jamie McGeever, Markets Columnist  Wall Street slumped on Tuesday,...

Switzerland considers joining UK's 'dirty money' task force

LONDON -Switzerland is considering joining a British-led international task force targeting kleptocrats and recovering stolen assets, it said on Tuesday, as it seeks to shake off its reputation as a...

Currencies: A week of tension

Despite news about US inflation, the major currency crosses have changed little over the past week. However, things could change quickly with the meeting between the US president and European leaders...

Sterling nudges higher against dollar, inflation data in focus

Sterling tracked the euro higher against the dollar on Tuesday as markets gauged the probability of a peace deal between Russia and Ukraine following encouraging diplomatic signals from a White House...

Foreign investors stock up on euro zone debt in June

FRANKFURT -Foreign investors added to their stock of euro zone debt in June, European Central Bank data showed on Tuesday, in a tentative sign the bloc was becoming more popular at a time of...

Trading Day: Muted Monday, eyes on Trump summitry

ORLANDO, Florida -TRADING DAY Making sense of the forces driving global markets By Jamie McGeever, Markets Columnist  Many world markets took a breather on...

Barter is back in Russia as one Chinese company seeks to navigate settlement issues

MOSCOW -In Russia, barter is back for the first time since the chaos of the 1990s as settlement problems resulting from the conflict in Ukraine have forced at least one Chinese company to seek steel...