United States:
Inflation Is So Bad Democrats Want Biden to ‘Do More’ for Midterms
“As Ronald Reagan might have put it: Here we go again. Forty-two years after inflation helped sweep the former California governor into the White House and return the Senate to GOP control, surging prices threaten once again to upend a Democratic administration. President Joe Biden and his fellow Democrats in Congress are desperate to avoid the fate of President Jimmy Carter, ousted after one term. But Biden so far has had little success in either figuring out how to douse inflation that’s running at a four-decade high or even convincing voters that it wasn’t his $1,400 stimulus check that acted as kindling.”
Europe:
Bets Increase on Euro Slide to Parity With Dollar
“Hedge funds are increasingly betting on a slide in the euro to parity with the dollar for the first time in two decades. It’s the most popular wager in the options market among bets on a further drop in the common currency. Options pricing shows the odds of the milestone being hit in the next 12 months have risen to about 50%, a coin toss.”
Asia:
Dollar’s Demolition Job Puts Asia’s Central Banks on Defense
“The dollar’s relentless advance to a two-year high is roiling Asian currencies and pushing policymakers into action to curb losses. From direct dollar selling to verbal intervention, authorities are deploying every tool from their armories to ward off currency threats. India and Taiwan have intervened in the market, while Japan has tried to talk up the yen. China tweaked policy parameters to slow the slide in the yuan and Hong Kong is likely to step in as its currency brushes near the lower end of its trading band.”
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