foreign-exchange
Top StoriesSterling Set for Its Biggest Weekly Rise Since Dec 2020 vs Dollar
Top Stories‘We Are Going to Die’: Food Shortages Add to Sri Lanka’s Woes
Top StoriesUK Sanctions Russian Airlines to Prevent Them Selling Landing Slots
TradingPound Falls as UK Inflation Hits 40 Year High
Sri Lanka to Default on Debt, No Money for Fuel, Minister Says
Date: May 18, 2022
By Uditha Jayasinghe and Alasdair Pal COLOMBO (Reuters) – Sri Lanka is expected to be placed into default by rating agencies on Wednesday after the non-payment of coupons on two of its sovereign bonds, while the energy minister said the country had run out of money to pay for fuel. An economic crisis unprecedented in...
The Dollar’s Primacy Will Not Be Threatened by Sanctions Against Russia
Date: May 17, 2022
By Nicholas Sargen, Darden School of Business Russia’s invasion of Ukraine poses one of the biggest challenges to the post-World War II order, and it could portend further problems ahead if the conflict is protracted, as General Mark Milley recently warned. Shortly after the invasion began, the United States and its NATO allies invoked sanctions against Russia...
Sri Lanka Down to Last Day of Petrol, PM Tells Crisis-Hit Nation
Date: May 16, 2022
By Alasdair Pal and Uditha Jayasinghe COLOMBO (Reuters) -Sri Lanka’s new prime minister said on Monday the crisis-hit nation was down to its last day of petrol, as the country’s power minister told citizens not to join the lengthy fuel queues that have galvanised weeks of anti-government protests. Ranil Wickremesinghe, appointed prime minister on Thursday,...
Dollar Firm at 2-decade Highs as Aussie, Yuan Sink
Date: May 16, 2022
By Saikat Chatterjee LONDON (Reuters) – The Australian dollar and the Chinese yuan came under pressure from weak Chinese economic data on Monday, while the U.S. dollar consolidated gains near a 20-year peak. Comments by ECB policymaker Francois Villeroy de Galhau that the euro’s weakness could threaten the European Central Bank’s efforts to steer inflation...
ECB’s Villeroy: Overly Weak Euro Could Threaten Inflation Goal
Date: May 16, 2022
PARIS (Reuters) -The euro’s weakness on currency markets could threaten the European Central Bank’s efforts to steer inflation towards its target, ECB policymaker Francois Villeroy de Galhau said on Monday. The euro on Thursday hit its lowest against the dollar since 2017. It traded slightly above that early on Monday. The euro’s weakness makes imported...
Worsening Global Risk Sentiment Knocks Sterling
Date: May 16, 2022
By Joice Alves LONDON (Reuters) – Sterling fell on Monday as weak Chinese economic data added pressure on risky currencies, while investors scaled down their expectations for Bank of England interest rate rises this year. Risk-sensitive sterling has fallen 10% against the dollar this year as the war in Ukraine, rising inflation, poor domestic economic...