Currency markets
Goldman strategist: This sector has been ‘unduly’ punished and could be a buy right now
Sharon Bell, a senior strategist at Goldman Sachs, has shared her favorite sectors after this week’s market madness. Source
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Philippine central bank chief says he’s ‘not concerned’ about recent peso weakness
There are multiple reasons why the Philippines’ central bank chief, Benjamin Diokno, is “not concerned” about recent weakness in the peso against the dollar. As of Tuesday morning during Asia trading hours, the peso has weakened more than 2.5% against the greenback so far this year. It last traded at 52.38 per dollar, after Reuters […]
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British pound plummets as Bank of England warns of recession risk
Sterling notes and coins are laid out Matt Cardy | Getty Images The British pound on Thursday was set for its largest daily drop since the onset of the coronavirus pandemic, after the Bank of England warned of a sharp growth slowdown in the U.K. economy. Sterling hit a low of 1.2393 against the dollar […]
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Bank of England chief defends cautious rate-hiking cycle, sees unprecedented shock to people’s income
Bank of England Governor Andrew Bailey. Simon Dawson | Bloomberg via Getty Images LONDON — Governor Andrew Bailey has sought to defend the Bank of England’s cautious approach to monetary tightening, saying policymakers are considering the wider picture of an inflation shock that the U.K. economy is now experiencing. The BOE may have completed its […]
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The dollar is surging, but these ETFs can stop it from taking a bite out of your portfolio
The dollar has risen sharply in April, but these international stock funds have a way to offset that. Source
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The Bank of Japan may have limited tools to deal with the weak yen, but that’s not its focus
The Bank of Japan may be limited in its ability to deal with recent weakness in the yen, but experts who spoke with CNBC noted the currency is not really the central bank’s main focus anyway. The Japanese yen went above 130 against the dollar on Thursday after the BOJ reiterated its ultra-easy monetary policy […]
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UBS names the best and worst Japanese stocks to buy if the dollar-yen rises further
UBS has identified Japanese stocks that are set to be the most affected — both positively and negatively — if the yen continues to slide against the dollar. Source
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Euro sinks to five-year low on energy supply, slowdown fears
The euro traded almost 0.4% against the U.S. dollar to a level not seen since 2017. This after Gazprom decided to cut gas supplies to Poland and Bulgaria. Kinga Krzeminska | Moment | Getty Images The euro tumbled against the U.S. dollar Wednesday morning as investors grew increasingly concerned with energy supply and a potential […]
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Japanese yen could weaken to 135 per dollar in the ‘very near future,’ says Wells Fargo
This photo illustration shows Japanese 10,000 yen banknotes in Tokyo on November 19, 2021. The Japanese currency has weakened sharply against the dollar in recent weeks amid expectations the Bank of Japan will lag its peers in normalizing monetary policy. Behrouz Mehri | AFP | Getty Images The Japanese yen may continue to see weakness […]
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Sri Lanka’s reluctance to tap IMF helped push it into an economic abyss
Protesters in Colombo on Easter, April 17, 2022. The Rajapaksa government has leaned heavily on its foreign exchange reserves, eroding them by more than 70% in two years. Jewel Samad | AFP | Getty Images Sri Lanka’s worst economic crisis has triggered an unprecedented wave of spontaneous protests as the island nation of 22 million […]
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