Analysis: Currencies

UK must keep trade open and EU close in fragmenting world, Bank of England's Bailey says

Britain should stand up for free trade and rebuild ties with the European Union as the global economy fragments, Bank of England Governor Andrew Bailey said in a speech on Thursday that cast an eye...

Euro zone economy seen hit early next year by Trump tariffs, say economists

BENGALURU - The euro zone economy will be hit with tariffs from the incoming U.S. Trump administration early next year, according to a majority of economists polled by Reuters, all but ensuring a...

No end in sight for Trump-fuelled trade

A look at the day ahead in European and global markets from Rae Wee Market movement over the past week or so since Donald Trump won the U.S. presidential election have been characterised by a...

Russia's 2024 inflation to exceed government's forecast after weekly jump

MOSCOW - Russian consumer prices jumped by 0.3% in the latest week, bringing the headline number to 7% since January, close to the official government forecast of 7.3% for the full year, statistical...

Russia's GDP growth slows to 3.1% y/y in Q3, statistics service says

Russia's gross domestic product grew by 3.1% in the third quarter of 2024, down from a 4.1% annual rise in the second quarter and 5.4% in the first quarter, state statistics service Rosstat said on...

Russian central bank chief defends banking sector as criticism mounts

Russia's central bank governor Elvira Nabiullina gave an impassioned defence of the country's banking sector to Communist Party lawmakers, as criticism mounts over high interest rates and inflation....

Ukraine expects to avoid monetising debt markets in 2025, says central bank governor

LONDON - Ukraine's central bank expects it will not have to fund the government next year, Governor Andriy Pyshnyi told Reuters, as the war-torn country readies to push through its budget for 2025....

Why is the euro falling and could it hit $1?

LONDON - The euro has fallen to one-year lows, reviving talk the currency could hit the $1 mark. Donald Trump's U.S. election win raises the prospect of a hike in tariffs that could deal a fresh blow...

Pro-government economists blame central bank for plunging Russia into 'stagflation'

MOSCOW - Russia's tight monetary policy has failed to curb price growth and has created risks of an economic slowdown, dragging the economy into stagflation, a combination of stagnant growth and...

Currencies: The dollar soars with Trump 2.0

Donald Trump's arrival in power only reinforces the dollar's prevailing trend.

More ECB rate cuts coming but pace of easing uncertain, Rehn says

FRANKFURT -More European Central Bank interest rate cuts are coming and the deposit rate could hit the so-called neutral level in the first half of next year, Finnish central bank chief Olli Rehn said...

Spain's former central bank chief to lead Bank for International Settlements

LONDON - Spain's former central bank governor, Pablo Hernandez de Cos, was picked on Monday to lead the Bank for International Settlements, the near century-old institution that brings together...

India, Saudi Arabia top buyers of Russian VGO and fuel oil in October, LSEG data shows

MOSCOW - India and Saudi Arabia were the top destinations for Russian seaborne fuel oil and vacuum gasoil exports in October, traders said and LSEG data showed. Total fuel oil and VGO exports from...

IKEA store operator Ingka Group sells last Russian asset

MOSCOW -Ingka Group, which runs most IKEA stores globally, has sold its last asset in Russia, a warehouse near Moscow, it said on Friday, completing its exit from the country. Ingka sold its 14...

Sterling close to 2-1/2-year high versus euro on policy rate bets

Sterling was within striking distance of its highest level in more than 2-1/2 years against the euro on Friday as investors bet the European Central Bank would follow a faster monetary easing path...

China's exports to Russia grow at quickest pace in 11 months

BEIJING - China's exports to Russia in October rose 24.4% from a year earlier, the fastest pace since November last year, Chinese customs data showed on Thursday, as Beijing affirmed strong ties with...

FX traders brace for wild moves after US election

LONDON - Currency traders rushed to hedge against big overnight price movements that might ensue as the results of the 2024 U.S. election trickle out, pushing options volatility for the euro and...

Sweden's Riksbank seen making half percentage point rate cut

STOCKHOLM - Sweden's central bank is likely to cut its policy rate by half a percentage point to 2.75% when it meets this week, aiming to boost the weak economy and keep inflation from undershooting...

Global equity funds see first weekly outflow in five weeks on caution ahead of US elections

Investors withdrew money from global equity funds in the week ended Oct. 30, amid caution ahead of Tuesday's U.S. presidential election and the Federal Reserve's policy decision later in the week....