Analysis: Currencies

India eyes Russia, Brazil, Netherlands for pharma export growth as US tariffs concerns linger

India plans to increase pharmaceutical exports to Russia, the Netherlands and Brazil, according to two industry sources aware of the matter, aiming to expand its presence beyond the United States,...

What is Russia's Power of Siberia pipeline 2 to China?

MOSCOW -Russia's Gazprom has agreed to a modest rise in gas supplies to China via an existing pipeline and has signed a memorandum on building the vast Power of Siberia 2 pipeline. What...

Rupee recovers from record low to end flat after likely RBI intervention

The Indian rupee recovered from its record low to end unchanged on Monday, helped by likely intervention from the Reserve Bank of India towards the later part of the session, according to traders. ...

Liechtenstein bank LLB exits Gulf, refers clients to Rothschild

DUBAI -Liechtensteinische Landesbank is withdrawing from the United Arab Emirates and will refer its Gulf clients to Rothschild & Co, the two firms said in separate statements on Tuesday. ...

Ukraine's power exports jumped in August, analyst ExPro says

KYIV -Ukraine, whose power system has come under continued drone and missile attacks by Russia, boosted its electricity exports by 60% in August from July to 450 megawatt hours, the Ukrainian ExPro...

Sterling, Japanese yen slump on investor anxiety over public finances

SINGAPORE -Sterling and the Japanese yen slumped on Tuesday on the back of growing investor anxiety about government finances, allowing the dollar to claw back some ground after five days of selling....

German economy minister considers providing defence sector state financing

BERLIN -Germany's economy minister said on Monday she was considering providing state financing to the defence industry as it ramps up production in the face of the growing threat posed by Russia...

Exclusive-Fed should be independent but has made mistakes, Treasury Secretary Bessent says

ARLINGTON, Virginia -U.S. Treasury Secretary Scott Bessent said on Monday the Federal Reserve is and should be independent but said it had made a lot of mistakes and defended President Donald Trump's...

Currencies: Nec pluribus impar

This currency borrowed from Louis XIV is perfectly suited to the euro's current situation. Since the beginning of the year, it has been setting the pace against most G10 currencies, including the US...

Sterling on track for three-day slide versus euro amid fiscal concerns

Sterling rose against a weakening dollar on Monday but was on track for a 3-day falling streak versus the euro, as investors awaited U.S. economic data later this week amid renewed concerns over...

India rupee hits all-time low on US tariff strain; RBI under the lens

MUMBAI -The Indian rupee dropped to a record low against the U.S. dollar on Monday, reflecting mounting concerns over the higher U.S. tariffs on Indian goods and the broader economic implications for...

Euro zone manufacturing expanded for first time since early 2022 in August, PMI shows

BENGALURU -Euro zone manufacturing activity expanded in August for the first time since mid-2022 due to a surge in domestic demand and output, raising optimism around future production, a survey...

Russian factory activity contracts for third month running in August, PMI shows

Activity across Russia's manufacturing sector declined for the third month running in August, a business survey showed on Monday, driven by falls in output and new orders for both domestic and export...

Rupee hovers near all-time low, likely to keep underperforming Asia

The Indian rupee dipped on Monday, hovering near an all-time low, with analysts expecting its underperformance versus other Asian currencies to persist amid high U.S. tariffs. The rupee...

Rupee may weaken further on tariffs, outflows; bonds to eye fiscal clarity

MUMBAI -The Indian rupee, after falling to a lifetime low last Friday, will likely remain under pressure this week with U.S. tariffs and sluggish portfolio flows piling on the pressure, while...

Republican lawmaker Lankford says it's important for Fed to be independent

WASHINGTON -A Republican U.S. senator on the finance committee on Sunday stressed the importance of an independent Federal Reserve, diverging from Vice President JD Vance's statement that the...

Egypt's GDP grows 4.5% in 2024-25, boosted by reforms and manufacturing

CAIRO -Egypt's real gross domestic product grew by 4.5% in the 2024-25 financial year, up from 2.4% the previous year, Finance Minister Ahmed Kouchouk said on Saturday, boosted by reforms tied to IMF...

Brazil's Lula in "no rush" to retaliate against US tariffs

SAO PAULO -Brazilian President Luiz Inacio Lula da Silva said on Friday he is in no rush to reciprocate tariffs imposed by the United States on goods from his country, and reiterated that his...

Fed's balance sheet drawdown enters new stage as reverse repos largely drained

NEW YORK -The Federal Reserve's effort to shrink the size of its balance sheet is moving into a more uncertain phase as a key proxy of excess liquidity has been very nearly extinguished. ...