September 7, 2022
Fed Effect Stirs Global FX Moves as Mighty Dollar Runs Rampant
The dollar is steamrolling currencies from Japan to South Africa and the UK as bond market bets on higher-for-longer US rates gave fresh fuel to the greenback’s rally, triggering a vocal pushback from officials in various countries.
BOE Says Energy Bill Cap Could Cut Inflation in Short Term
Bank of England Chief Economist Huw Pill said it’s the longer-term impact on inflation of the UK government’s multi-billion pound energy bail out that will be key to determining where interest rates are headed.
China’s Foreign Exchange Reserves Drop to Near Four-Year Low
China’s foreign exchange reserves declined for a second straight month to the lowest since October 2018 as global financial asset prices dropped, according to the government.
Reserves decreased to $3.0549 trillion as of the end of August, down $49.2 billion from a month ago, data released by the People’s Bank of China showed. That was slightly below the median estimate of $3.065 trillion in a Bloomberg survey of economists.
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