Analysis: Currencies

Rupee slides for third straight week as tariff deadline, Fed decision near

The Indian rupee fell to a one-month low on Friday, and logged its third straight weekly decline, pressured by outflows from local stocks and caution among investors ahead of a news-heavy week...

AI drives new highs

ORLANDO, Florida -TRADING DAY Making sense of the forces driving global markets By Jamie McGeever, Markets Columnist  Key U.S. and global stock markets...

Trump presses Powell to cut rates during tense visit to Fed

WASHINGTON -President Donald Trump locked horns with Federal Reserve Chair Jerome Powell during a rare presidential visit to the U.S. central bank on Thursday, criticizing the cost of renovating two...

Austria's RBI 'derecognizes' $1.41 billion legal claim from Rasperia for Q2

Austria's Raiffeisen Bank International on Thursday said it derecognizes 1.2 billion euros in expected proceeds from enforcing claims against Rasperia Trading Limited's Austrian assets for the...

US business activity rises; tariffs fuel inflation concerns

WASHINGTON -U.S. business activity picked up in July, but companies asked higher prices for goods and services, supporting economists' views that inflation will accelerate in the second half of the...

US labor market steady, jobless claims at three-month low

WASHINGTON -The number of Americans filing new applications for jobless benefits fell to a three-month low last week, pointing to stable labor market conditions, though sluggish hiring is making it...

Russia says rising tariffs threaten US and global economy

MOSCOW -Russian Foreign Ministry spokeswoman Maria Zakharova said on Thursday that rising trade tariffs carried risks for the economy of the United States and the whole world. Zakharova...

Pakistan spy agency targets black market dollar trade to curb rupee slide

KARACHI -A deputy chief at Pakistan's spy agency met with currency exchange firms this week amid a sharp slide in the rupee, leading to a crackdown on black market dollar trade, the head of the...

Euro zone business activity growth hits 11-month high in July, PMI shows

LONDON -Euro zone business activity accelerated faster than forecast this month, supported by a solid improvement in the bloc's dominant services industry and with manufacturing showing further signs...

Subdued dollar firms after ECB leaves rates alone; tariffs and Fed in focus

The dollar traded sideways versus the euro on Thursday after the European Central Bank held rates steady, and was confined to a tight range against the yen as prospects for higher Japanese rates...

Britain and India sign free trade pact during Modi visit

LONDON/NEW DELHI -Britain and India signed a free trade agreement on Thursday during a visit by Indian Prime Minister Narendra Modi, sealing a deal to cut tariffs on goods from textiles to whisky and...

Bessent says Fed forecasts 'politically biased'

WASHINGTON -U.S. Treasury Secretary Scott Bessent on Wednesday suggested without evidence that the Federal Reserve's widely followed economic forecasts are motivated by politics, as the Trump...

Exclusive-Chinese engines, shipped as 'cooling units', power Russian drones used in Ukraine

Chinese-made engines are being covertly shipped via front companies to a state-owned drone manufacturer in Russia, labelled as industrial refrigeration units to avoid detection in the wake of Western...

Trump administration not in a rush to replace Powell, Treasury chief Bessent says

WASHINGTON -U.S. Treasury Secretary Scott Bessent said on Wednesday that the Trump administration was not in a rush to nominate a new Federal Reserve Chair to replace Jerome Powell. We...

US Fed independence under threat, say economists, but no one expects a July rate cut- Reuters poll

BENGALURU -The U.S. Federal Reserve's independence is under threat from mounting political interference, according to a clear majority of economists polled by Reuters, although no one expects a July...

India cenbank net bought $1.76 billion in forex market in May, bulletin shows

MUMBAI -The Reserve Bank of India bought a net of $1.76 billion in the foreign exchange market in May, data released on Wednesday as part of the central bank's monthly bulletin showed. ...

Newly sanctioned Indian refiner Nayara skips naphtha export tender award, say sources

NEW DELHI -Russia-backed Indian refiner Nayara Energy, sanctioned by the European Union, did not award a spot naphtha export tender after revising its payment terms, three trade sources said on...

South African rand gains as inflation rises modestly, stocks hit new peak

JOHANNESBURG -The South African rand strengthened on Wednesday as inflation rose only modestly, keeping the central bank on track to continue cutting interest rates, while the local stock market...

Rupee dips but firmer yuan, exporter dollar sales cushion losses

The Indian rupee ended marginally weaker on Wednesday with the strength in the Chinese yuan and exporter activity helping the currency hold above a psychologically important support level. ...