Analysis: Currencies

Fed's Powell says monetary policy framework back on more traditional footing

Federal Reserve Chair Jerome Powell on Friday announced an updated operating framework more oriented toward traditional efforts of promoting price stability, supplanting what had been a troubled...

Powell says Fed may need to cut rates, will proceed carefully

JACKSON HOLE, Wyoming -Federal Reserve Chair Jerome Powell on Friday signaled a possible interest rate cut at the U.S. central bank's meeting next month, saying that risks to the job market were...

New Zealand's central bank may cut interest rates twice more this year to 2.50%

BENGALURU -New Zealand's central bank will likely cut its key interest rate twice more this year, taking it to 2.50%, according to a majority of economists polled by Reuters following the latest...

US DOJ to probe Fed's Cook, urging removal, Bloomberg News reports

JACKSON HOLE, Wyoming -The U.S. Justice Department plans to investigate Federal Reserve Governor Lisa Cook, with a top official informing Federal Reserve Chair Jerome Powell of the probe and...

Investors see risks for market as Powell walks tightrope at Jackson Hole

NEW YORK -Investors are bracing for volatility as Federal Reserve Chair Jerome Powell walks a fine line between curbing inflation and supporting the labor market, with thin August trading poised to...

China suspends Argentine poultry imports five months after ban lifted

BEIJING -China has suspended imports of Argentine poultry products from August 20, just five months after lifting a two-year ban. The ban came after the Argentine government temporarily...

India, Russia agree to boost trade ties after foreign ministers meet in Moscow

MOSCOW -India and Russia agreed to boost trade ties on Thursday as their foreign ministers met in Moscow, giving little indication that U.S. President Donald Trump's hefty tariffs on India for buying...

Fed's expansive experiment in strategy to get a reboot at Jackson Hole

JACKSON, Wyoming -The U.S. Federal Reserve's pivot toward the labor market in 2020 will get a reboot on Friday when Fed Chair Jerome Powell is expected to release a new framework for the central bank...

Russia orders state-backed MAX messenger app, a WhatsApp rival, pre-installed on phones and tablets

MOSCOW -A Russian state-backed messenger application called MAX, a rival to WhatsApp that critics say could be used to track users, must be pre-installed on all mobile phones and tablets from next...

South African rand slips as investors focus on Fed symposium

JOHANNESBURG -The South African rand weakened on Thursday, as investors looked to the U.S. Federal Reserve's annual Jackson Hole symposium for clarity on the economic outlook and policy direction. ...

Russian central bank official says further rate cut this year is not a foregone conclusion

MOSCOW -Russia's central bank may be able to cut its key interest rate from 18% this year if inflation slows rapidly, but it does not rule out holding it at that level in order to achieve a...

Dollar gains before key Powell speech at Jackson Hole on Friday

NEW YORK -The dollar gained on Thursday before a highly anticipated speech by Federal Reserve Chair Jerome Powell on Friday will be evaluated for any new clues on whether the U.S. central bank is...

BOJ chief's dogged caution tempers board's hawkish instincts

TOKYO -In 2024, Kazuo Ueda delivered Japan's first interest rate hike in 17 years, a bold shift for a central bank once dominated by advocates of ultra-loose monetary settings - now, the Bank of...

US tech-stock stumble shows vulnerability in AI trade

NEW YORK -U.S. technology shares are showing signs of vulnerability after a massive run, which has some investors pointing to overdone AI-driven gains while funds have taken steps to position away...

Exclusive-Judge in US crosshairs warns Brazil banks not to apply sanctions locally

BRASILIA -Brazilian Supreme Court Justice Alexandre de Moraes, who recently had sanctions imposed on him by the U.S. government, told Reuters that courts could punish Brazilian financial institutions...

Trump calls on Fed Governor Cook to resign over mortgage allegations

WASHINGTON -President Donald Trump on Wednesday called on Federal Reserve Governor Lisa Cook to resign on the basis of allegations made by one of his political allies about mortgages she holds in...

Russia, under war spending pressure, set for more austerity, tax hikes

MOSCOW -Moscow is preparing to raise taxes and cut spending as it tries to maintain high defence expenditure with Russia's economy creaking under the weight of financing the more than three-year war...

Tech angst on AI doubts

What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Finance and Markets In markets, the trigger for sudden confidence swoons is often elusive,...

Sterling edges up as inflation rises to highest in 1-1/2 years

LONDON -The British pound rose marginally against the dollar and euro on Wednesday after data showed inflation hit its highest in 18 months in July, with markets not fully pricing the next rate cut...