Analysis: Currencies

Investors react to Kugler's resignation, firing of  BLS commissioner

The Federal Reserve said on Friday that Governor Adriana Kugler was resigning from the central bank effective Aug. 8. Separately, U.S President Donald Trump ordered that the...

Kugler resigning from Fed, opening door to Trump appointment

The Federal Reserve said on Friday that Governor Adriana Kugler is resigning early from her term and will exit the central bank on Aug. 8, potentially shaking up what was already a fractious...

Trump says Fed's Powell should be put 'out to pasture'

U.S. President Donald Trump said on Friday that Federal Reverse Chairman Jerome Powell should be put out to pasture. He made the comments in a Truth Social post, where he ordered the...

Russian rouble expected to weaken by 20% in next 12 months, poll shows

MOSCOW -The Russian rouble is expected to weaken to 100 against the U.S. dollar in the next 12 months, a 20% decline from its current level, according to a Reuters poll of 14 analysts on Friday, with...

Sterling steadies after worst monthly performance since 2022

LONDON -The pound held steady on Friday, having posted its worst monthly performance against the dollar in three years, as the U.S. currency rallied after President Donald Trump imposed new tariff...

South African rand recoups some losses after US jobs data, stocks fall on tariff concerns

JOHANNESBURG, August 1 -The South African rand gained against a softer dollar after the United States reported weaker-than-expected jobs data, but stocks on the local bourse fell sharply as traders...

US labor market cracks widen as job growth hits stall speed

WASHINGTON -U.S. employment growth was weaker than expected in July while the nonfarm payrolls count for the prior two months was revised down by a massive 258,000 jobs, suggesting a sharp...

US official says differences with India cannot be resolved overnight for deal

WASHINGTON -Differences between the U.S. and India cannot be resolved overnight to arrive at a trade deal, a senior U.S. official told reporters late on Thursday, citing geopolitical disagreements. ...

Irish manufacturing sees robust output growth in July, PMI shows

DUBLIN -Ireland's manufacturing sector maintained strong growth in July, with output levels rising for the seventh successive month despite facing increased input cost pressures, a survey showed on...

US weekly jobless claims rise marginally

WASHINGTON -The number of Americans filing new applications for unemployment benefits increased marginally last week, suggesting that the labor market remained stable, though it is taking longer for...

Trump again slams Fed chair Powell after rates hold

WASHINGTON -U.S. President Donald Trump again criticised Federal Reserve Chairman Jerome Powell on Thursday, a day after the U.S. central bank held interest rates steady in a 9-2 vote. ...

Pound heads for worst month since 2022 budget crisis

LONDON -The pound headed towards its largest monthly loss against the dollar since September 2022 on Thursday, reflecting growing confidence among investors in the outlook for the U.S. economy and...

Brazil sees 35.9% of exports to US facing steeper tariff, pushes reversal for coffee

BRASILIA -Brazil estimates that 35.9% of its exports to the U.S. by value will be hit by a steep 50% tariff under a new executive order by Donald Trump's administration, Vice President Geraldo...

Key tariff plans for South Korea, Brazil and India

U.S. President Donald Trump said the U.S. would charge a 15% tariff on imports from South Korea, one of a number of such measures announced in the run-up to his August 1 deadline to impose such...

Russia's VTB reports drop in quarterly profit, raises full-year outlook

MOSCOW -Russia's second-largest lender VTB on Thursday reported a 10% year-on-year drop in second-quarter net profit to 139.2 billion roubles , as high interest rates squeezed the bank's net...

Cost of South African government borrowing falls as Reserve Bank targets lower inflation

JOHANNESBURG -South Africa's government borrowing costs dropped to their lowest in five years after the Reserve Bank announced on Thursday it would lower its inflation goal despite the finance...

Hungary's Orban pledges housing subsidies for public servants in pre-election push

BUDAPEST -Hungary plans to give public servants, including police and teachers, an annual 1 million forint housing subsidy, Prime Minister Viktor Orban announced as he gears up for a closely-fought...

Trump tariffs rattle India's markets, cloud growth outlook

MUMBAI -India's rupee plunged toward a record low and equity indexes declined on Thursday after U.S. President Donald Trump slapped steeper-than-expected tariffs on Indian goods, with analysts...

Fed's reticence on rate cuts forces market to rethink outlook

NEW YORK -The Federal Reserve's decision to avoid signaling imminent rate cuts despite relentless political pressure underscores its prevailing caution and has forced investors to dial back...