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The Latest Breaking News from US Dollar

Asia posts biggest 6-month drop in FX reserves since 2015-16

SINGAPORE: Foreign exchange reserves in Asia have recorded their biggest six-month decline in years, a testament to policymakers' determination to defend currencies facing persistent downward pressure from a strong US dollar.

Bangkok Post

Inflation is spiking in Zimbabwe (again). Why high interest rates aren't the answer

The central bank of Zimbabwe has raised its benchmark rate from 80% to a fresh record of 200%. This increase comes as Russia’s invasion of Ukraine is driving global commodity prices higher, exacerbating inflation in many countries around the world, including Zimbabwe.

The Conversation

Microsoft Earnings Fall Short as Computer Sales Sag

Microsoft on Tuesday said that its earnings in the recently ended quarter fell shy of expectations as personal computer sales suffered from production holdups in China and sagging demand. The US technology giant reported profit of $16.7 billion on revenue of $51.9 billion, topping the same quarter a year earlier…

Asharq Al-Awsat

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Coca-Cola results boosted by comeback in 'away-from-home' spending

New York (AFP) - Higher prices and a comeback in away-from-home sales helped Coca-Cola score solid quarterly profits Tuesday in spite of increased operating costs and the drag of the strong US dollar in international markets.

AFP

Higher prices boost Coca-Cola's Q2 results

New York (AFP) - Higher prices for soda helped Coca-Cola score better-than-expected quarterly profits in spite of higher operating costs and the drag of the strong US dollar in international markets, the company announced Tuesday.

AFP

Middle East Sovereign Funds Reposition Strategies as Inflation Bites

Surging inflation and the Russian invasion of Ukraine have prompted sovereign investors to reposition their asset allocation, according to the latest Invesco Global Sovereign Asset Management Study. Investors now favor private markets over fixed income and equities, and among geographies, prefer the US and the Asia Pacific over Europe. More…

Asharq Al-Awsat

Business: Rupee hits all-time low of 80 against US dollar, subdues Indian stock indices

Indian stock indices declined marginally in early trade on Tuesday, weighed down by a consistent depreciation of the rupee. Read more on Dynamite News:

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Indian rupee breaches 80 per dollar, hits new record low

Mumbai (AFP) - The Indian rupee fell to more than 80 per US dollar for the first time on record Tuesday, as the greenback extended its rally and foreign capital outflows intensified.

AFP

Crypto Price Check: Bankruptcies Taking Sector into Uncharted Waters

The fall of integral crypto players has triggered 'a downward spiral', one analyst says, that's taken other crypto investors and companies down with it.

The Street

Oil Prices Extend Gains

Oil prices extended gains on Monday, propped up by a weaker dollar and tight supplies that offset concerns about recession and the prospect of widespread COVID-19 lockdowns in China again reducing fuel demand. Brent crude futures for September settlement rose 69 cents, or 0.7%, to $101.85 a barrel by 0421…

Asharq Al-Awsat

What prompted euro’s loss of value and what’s its impact?

Experts identify two main reasons why the euro has lost value and the potential effects on the European Union.

Al Jazeera

Numbers Highlight Lebanon’s Collapse During Aoun’s Tenure

Less than two months before the constitutional date that allows for the election of a new president for Lebanon, the severe economic and financial crisis that the country has been witnessing since the fall of 2019 continues to worsen. The devaluation of the Lebanese currency, which has lost more than…

Asharq Al-Awsat

Euro hits US dollar parity for first time in 20 years

The euro has been vulnerable given the effect of a continuing spike in natural gas prices and the war in Ukraine.

Al Jazeera

FTSE 100 Live: US dollar index near 20-year high, China lockdown worries continue

US dollar strength and the impact of China’s Covid lockdowns remain the focus for traders ahead of a big week for economic updates.

Evening Standard

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The Conversation

Five ways that the super-strong US dollar could hurt the world economy

The US dollar has been on a major surge against major global currencies in the past year, recently hitting levels not seen in 20 years. It has gained 15% against the British pound, 16% against the euro and 23% against the Japanese yen.

Bangkok Post

Industry cowers as baht dips again

The Federation of Thai Industries (FTI) has warned against further currency depreciation to 37 baht against the US dollar, claiming it would make life more miserable for businesses and households because of higher oil prices.

AFP

Markets react badly to Argentina economy minister appointment

Buenos Aires (AFP) - Argentina's peso fell sharply against the US dollar on the informal market Monday after the appointment of a new economy minister who sought to calm investor jitters by vowing to pursue "fiscal balance."

AFP

Markets react badly to new Argentina economy minister appointment

Buenos Aires (AFP) - Argentina's peso fell sharply against the US dollar in the informal market on Monday following the appointment of new Economy Minister Silvina Batakis.

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Bristol Post

Why does the UK/US exchange rate affect fuel prices? Petrol hits record 191.5p high

The pound’s weakness against the US dollar is partly to blame for soaring fuel prices on British forecourts. Figures show the average price of petrol reached a new high of 191.5p per litre on Sunday.

AFP

US multinationals grapple with soaring dollar

New York (AFP) - The rapid rise of the US dollar since the start of the year is a double-edged sword for American multinational companies, pushing some of them to decide whether to hedge or reposition their activities abroad to avoid fallout.

Benzinga

EUR/USD Barely Clinging Above 1.04

June didn’t work out to be a great month for EUR/USD. At the time of writing, the single currency looked on course to end the month down by 2.62% against the US dollar. May’s gains in hindsight look more like a cadaveric spasm than a serious promise of retracement or…

Evening Standard

How to buy Tether (USDT)

Tether is the world’s largest ‘stablecoin’ by market capitalisation. In theory, stablecoins offer a less volatile alternative to bitcoin and altcoins because their value is tied to a fiat currency such as the US Dollar.

Benzinga

Crypto Winter - Multiple Blow-ups Leading To A Much Bigger Problem...

During periods of rampant excess in financial markets, we move from valuations based on the present value of future cash flows to valuations based on stories. How compelling is your story? Is it one of future growth and revolutionized economic reform all powered by smart contracts? Sounds pretty neat.

Al Jazeera

Investors excited by Zimbabwe plan to mint gold to curb inflation

President Mnangagwa is reportedly desperate to shed some of the legacy economic problems his administration inherited.

Bangkok Post

Central banks in Asia spend billions to slow currency declines

After years of building their foreign-exchange reserves, central banks in Asia are tapping into their stockpiles to bolster their weakening currencies against a rising US dollar.

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