By Saqib Iqbal Ahmed NEW YORK (Reuters) -The dollar climbed to a near four-week high against a basket of currencies on Friday, after data showed U.S. consumer prices accelerated in May, strengthening expectations the Federal Reserve may have to continue with interest rate hikes through September to combat inflation. In the 12 months through May, …
Dollar rises as hot U.S. inflation data seen keeping Fed hawkish Read More »
SAO PAULO (Reuters) -Singapore state investor GIC Pte and the Canada Pension Plan Investment Board (CPPIB) have not bought shares in Eletrobras’ privatization offering because they demanded prices below what the Brazilian government was willing to accept, two sources with knowledge of the matter said on Friday. CPPIB and GIC each had orders of 4 …
CPPIB, GIC did not participate in Eletrobras privatization -sources Read More »
By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) -Japan’s government and central bank said on Friday they were concerned by recent sharp falls in the yen in a rare joint statement, the strongest warning to date that Tokyo could intervene to support the currency as it plumbs 20-year lows. The statement underscores growing concern among …
Japan edges closer to intervention in yen after rare gov’t, cbank joint statement Read More »
TAIPEI (Reuters) – The United States understands Taiwan’s exchange rate policy stance and the two sides have “good” communication, a Taiwanese central bank official said on Friday, after the U.S. Treasury put Taiwan on its monitoring list. The U.S. Treasury said Taiwan continued to exceed some thresholds for possible currency manipulation and moved the island …
Taiwan says U.S. understands its exchange rate policy stance Read More »
By Leika Kihara and Tetsushi Kajimoto TOKYO (Reuters) – Japan’s government and the central bank are “concerned” about recent sharp yen declines and stand ready to respond as needed on currency policy, they said in a rare joint statement on Friday. “We have seen sharp yen declines and are concerned about recent currency market moves,” …
Explainer: What would Japan’s currency intervention to combat a weak yen look like? Read More »
By Mohi Narayan NEW DELHI (Reuters) -An oversupply of naphtha at a time of poor demand has squeezed the product’s Asian margins to their weakest levels since the 2008 global financial crisis, traders and analysts said. Since naphtha is used for petrochemicals that go into a wide variety of consumer goods, the current weakness of …
Oversupply, weak China demand depress Asia naphtha margins to 2008 lows Read More »
SEOUL (Reuters) – South Korea’s POSCO said on Friday all overland transport of steel products from its plants in Pohang and Gwangyang has been suspended due to an ongoing truckers’ strike in the country. The South Korean steelmaking giant said it has been unable to ship about 35,000 tonnes of steel products per day from …
S.Korea truckers strike hits shipments from POSCO steel plants Read More »
BEIJING (Reuters) – New bank lending in China jumped far more than expected in May and broader credit growth also quickened, as policymakers try to reverse a sharp, COVID-induced economic slump. Chinese banks extended 1.89 trillion yuan ($282.62 billion) in new yuan loans in May, nearly tripling April’s tally and handily beating expectations, data released …
China new bank loans nearly triple in May as Beijing steps up policy support Read More »
SINGAPORE (Reuters) – Japan’s government and central bank said on Friday they were concerned by recent sharp falls in the yen in a rare joint statement, the strongest warning to date that Tokyo could intervene to support the currency which has sunk to 20-year lows. The Bank of Japan’s commitment to super low interest rates …
INstant View- Japan govt, central bank voice concern over sharp yen fall Read More »
By Byungwook Kim and Heekyong Yang ULSAN, South Korea (Reuters) -Defiant South Korean truckers embarked on broader and more aggressive strike action on Friday, threatening to severely curtail deliveries of raw materials for semiconductors and petrochemical products. Entering its fourth day, the strike protesting soaring fuel costs halved production at Hyundai Motor Co’s biggest factory …
Striking South Korean truckers target chips, put brakes on port activity Read More »
