Currencies are closing the valuation gap with the dollar The Economist’s Big Mac index gives a flavour of how far currency values are out of whack. It is based on the idea of purchasing-power parity, which says exchange rates should move towards the level that would make the price of …
LONDON — It is the closest thing to a certainty in the global economy. When trouble flares and anxiety mounts, people who manage money traditionally entrust it to a seemingly indomitable refuge, the American dollar. Yet on Wednesday, in the hours after President’s Trump’s threat to unleash “fire and fury” on …
No one wins a trade war, but the U.S. will probably lose less than China. One clear takeaway from Chinese President Xi Jinping’s Jan. 17 speech at the World Economic Forum in Davos was that U.S. President Donald Trump has him on the defensive. Xi delivered a minor surprise by …
Asian currency policymakers are worried that the strengthening of the dollar on expectations of U.S. President-elect Donald Trump’s fiscal policies could be used by his administration as a stick to beat them with on trade protectionist grounds. China, Japan, South Korea and Taiwan are already on the U.S. Treasury’s monitoring …
Donald Trump’s electoral upset has breathed new life into the bet that diverging economic paths will drive the euro toward parity with the dollar for the first time since 2002. Traders see about a 43 percent chance the European currency will sink to $1 within a year, almost double the …
Sterling is at a 7-week low against the dollar after Theresa May named the date for triggering Article 50. A ‘hard Brexit’ looks increasingly more likely. The pound is diving against the dollar and euro on Monday morning after Theresa May set a date for the beginning of official Brexit …
If you’ve traveled outside the U.S. recently, or sent your U.S.-made products abroad, you’ve probably noticed that the dollar is getting stronger. The stronger dollar is the sign of a healthier U.S. economy, but its strength has the potential to erode growth. There are a number of factors behind the …
Laos will not press ahead with the construction of a controversial dam on the Mekong river until environmental issues have been resolved, state-run media report. The government says two big issues – fish migration and sediment flow – will be addressed, the Vientiane Times says. Critics say the hydro-electric dam …
57.3275 — value per dollar of the rupee as of Friday, the value has gone up very little since then. This marks an all-time low for the currency which has depreciated by 21% in the last year. Indian Rupee Hits All Time Low | World | TIME.com.
Would better regulations have prevented J.P. Morgan Chase’s multi-billion dollar trading losses? Pat Bagley doesn’t buy CEO Jamie Dimon’s assurances that no further measures are required, while Nick Anderson doesn’t think they’re likely. via Double Take ‘Toons: Dimon Mined? : NPR.
LONDON (AP) — Travelers on London’s Underground need no longer fear being out of touch. The subway network began launching WiFi on Thursday, rolling out the service to a handful of stations this week as part of a build-up before the Olympics. The games are set for July 27 to …
Argentine President Cristina Fernandez says she is switching her personal savings from the US dollar to the Argentine peso. She said she would move her only remaining dollar account and urged officials to do the same. High inflation, officially at 9.8% but unofficially at about 25%, means many Argentines see …