Analysis: Currencies

Russia slashes 2025 economic growth forecast to 1.5% from 2.5%

MOSCOW -Russia sees economic growth in 2025 slowing to 1.5%, far below the earlier 2.5% forecast, as high interest rates imposed to reduce inflation have stifled borrowing, Finance Minister Anton...

Sterling retreats as dollar rebounds, traders digest British PPI

August 27 -Sterling slipped on Wednesday as the U.S. dollar firmed against major currencies, recouping losses spurred by investor worries over independence of the U.S. Federal Reserve while traders...

India's Russian oil gains wiped out by Trump's tariffs

NEW DELHI -India saved billions of dollars by stepping up imports of discounted Russian oil in the wake of the war in Ukraine, but punitive tariffs imposed by the U.S. that came into effect on...

Senate panel prepares to hold hearing on Trump's Fed pick, Bloomberg News reports

The Senate Banking Committee will hold a hearing next week to consider U.S. President Donald Trump's nomination of White House economic adviser Stephen Miran as a Federal Reserve governor, Bloomberg...

Bank of Canada Governor says bank will not review 2% inflation target next year

The Bank of Canada will not review its inflation target when its monetary policy framework comes up for renewal next year, Governor Tiff Macklem said on Tuesday, saying the current target has helped...

New BIS head stresses importance of central bank independence and accountability

LONDON -The new head of the Bank for International Settlements on Tuesday stressed the need for central banks to focus on inflation and, amid Donald Trump's escalating attacks on the Fed, for their...

Mantra of central bank independence shaken by Trump moves on Fed

FRANKFURT -U.S. President Donald Trump's attacks on Federal Reserve policymakers are emerging as the biggest threat in decades to central bank independence, which is widely seen as key to keeping...

Trump's Fed battle raises risks of ever-higher yields for Japan

TOKYO -Japanese government bond yields tested record highs on Tuesday after U.S. President Donald Trump's attempt to oust Federal Reserve Governor Lisa Cook, raising concerns about inflationary...

Indian central bank likely intervening to cushion rupee against US tariff risks

MUMBAI -The Reserve Bank of India is reportedly selling dollars via state-run banks to stabilize the rupee, which has come under pressure on worries about the fallout from potential steep U.S....

Exclusive-US and Russian officials discussed energy deals alongside latest Ukraine peace talks

LONDON -U.S. and Russian government officials discussed several energy deals on the sidelines of negotiations this month that sought to achieve peace in Ukraine, according to five sources familiar...

Impending Trump tariff hike pushes rupee down for 5th straight session

The Indian rupee continued its losing streak for a fifth consecutive session on Tuesday as Washington confirmed it will impose an extra 25% levy on Indian goods, clouding the outlook for Asia's...

Fed Governor Cook will sue to keep her job as Trump mulls replacement

WASHINGTON -Federal Reserve Governor Lisa Cook will file a lawsuit to prevent President Donald Trump from firing her, a lawyer for the embattled central bank official said on Tuesday, kicking off...

South American bloc Mercosur and Canada to resume talks for free-trade agreement

BRASILIA -Canada and South American bloc Mercosur will resume negotiations for a free-trade agreement, Brasilia and Ottawa announced on Monday after a meeting in Brazil's capital. ...

Currencies: New bout of weakness

To hell with greed. Jerome Powell seems determined to loosen the purse strings by cutting rates in September. In Fed chairman terms, this translates as: The central scenario and the evolution of the...

South African rand weakens as investors await local data signals

JOHANNESBURG -The South African rand was on the backfoot on Monday as investors booked profits after a rally that took the currency to a nine-month peak. At 1522 GMT the rand traded at...

Major brokerages pivot to Sept Fed rate cut on Powell's labor warning

Major brokerages, including Barclays, BNP Paribas and Deutsche Bank, now expect a 25-basis-point U.S. Federal Reserve rate cut in September following Chair Jerome Powell's shift in tone at Jackson...

India rupee slips for fourth session on tariff anxiety, importer bids

The Indian rupee gave up early gains to end lower on Monday as concerns over steep tariffs on Indian goods spurred dollar demand, with importer bids adding pressure.   The currency...

Dollar rebounds from slump spurred by Powell's dovish surprise

NEW YORK -The dollar advanced against major currencies on Monday, bouncing from a steep fall last week that followed remarks from Federal Reserve Chair Jerome Powell that boosted expectations for a...

Trump says he'll fire Fed's Cook if she doesn't resign over mortgage questions

WASHINGTON -U.S. President Donald Trump on Friday said he would fire Federal Reserve Governor Lisa Cook if she doesn't resign, intensifying his effort to gain influence over the U.S. central bank. ...