Myanmar currency drops 60% in weeks as economy tanks since February coup
Sept 29 (Reuters) – Myanmar’s currency has lost more than 60% of its value since the beginning of September, driving up food and fuel prices in an economy that has tanked since a military coup eight months ago. Many gold shops and money exchanges closed on Wednesday due to the turmoil, while the kyat’s dive […]
Dollar marooned as investors shrug off inflation spike
After a week of anxious waiting, markets got the high U.S. inflation number they dreaded, shrugged it off and moved on – leaving the U.S. dollar under pressure and most majors stuck in ranges.
Stocks rally, yields drop as U.S. CPI data calms investors
Global stock markets rallied to new highs and bond yields slid on Thursday after a jump in U.S. inflation was viewed as insufficient to alter the Federal Reserve’s easy monetary policy stance that rising consumer prices will be transitory.
China c.bank chief says inflation under control, vows ‘normal’ monetary policy
China’s central bank governor said inflation is “basically under control”, and monetary policy would be kept steady, in comments a day after concerns over inflationary pressures were fanned by data showing the fastest rise in factory-gate prices in 12 years.
Dollar teeters as inflation test looms
The dollar clung to a small bounce on Wednesday as traders looked to upcoming U.S. inflation data and a European Central Bank (ECB) meeting to gauge the global recovery and policymakers’ thinking.
One password allowed hackers to disrupt Colonial Pipeline, CEO tells senators
The head of Colonial Pipeline told U.S. senators on Tuesday that hackers who launched last month’s cyber attack against the company and disrupted fuel supplies to the U.S. Southeast were able to get into the system by stealing a single password.
Dollar subdued as investors look to key U.S. inflation gauge
The U.S. dollar was subdued on Tuesday as investors looked to U.S. inflation data due later in the week after softer-than-expected jobs data quelled expectations of an early tapering in the Federal Reserve’s stimulus.
Oil prices retreat but outlook remains positive
Oil prices extended losses on Tuesday on profit taking and a stronger U.S. dollar, but overall optimism about strong demand recovery kept a floor under prices.
China’s imports grow at fastest pace in decade as materials prices surge
China’s imports grew at their fastest pace in 10 years in May, fuelled by surging demand for raw materials, although export growth slowed more than expected amid disruptions caused by COVID-19 cases at the country’s major southern ports.
Asia shares turn cautious ahead of U.S. inflation
Asian shares turned lower on Monday as relief over the benign U.S. jobs report was chilled by caution ahead of key inflation data later this week, while a coronavirus outbreak in Taiwan took a toll on chip manufacturers.
