British pound crashes to all-time low as a warning for Australia

The British pound has plunged to its all-time low on a catastrophic day for the British currency, a major warning sign for Australia. As the following chart shows, the pound has taken a massive blow in recent months and completely capitulated on Monday, Australian time. It crashed to even lower levels than the dark days … Read more

Britain’s jump to Reaganomics gets thumbs down from the markets

Truss has now set the country on an economic path that is completely at odds with most, if not all, of the major global economies. Hannah Mckay | Reuters LONDON — New British Prime Minister Liz Truss may have talked a lot about ‘trickle-down economics’ during her campaign this summer, but no one could have … Read more

From the Fed to the currency crisis in Europe, here’s what’s behind this sell-off in the financial markets:

Stocks fell sharply, bond yields rose and the dollar strengthened Friday as investors heeded the Federal Reserve’s signal that the battle with inflation could lead to much higher interest rates and a recession. The sell-off was global on Friday, in a week in which the Fed raised interest rates by another three-quarters of a point … Read more

British pound plunges, bonds fall after tax cut announcement

Sterling hit its lowest level since July 1, 2020. Matt Cardy | Getty Images The controversial British pound fell 3% against the dollar on Friday after the new British government announced a radical economic plan to boost growth. Sterling had fallen to $1.0923 at 4:20 p.m. London time, increasing the losses it incurred after the … Read more

Turkey cuts interest rates again despite 80% inflation

The number of Russian tourists to Europe dropped dramatically during the summer, but rose in several other destinations, including Turkey (here). Onur Dogman | Sopa images | Light rocket | Getty Images Turkey’s central bank surprised markets again with its decision Thursday to cut its key interest rate, despite inflation in the country soaring above … Read more

Bank of England raises, says UK may already be in recession

The Bank of England raised interest rates by 0.5 percentage point on Thursday. Vuk Valcic | SOPA images | Light Rocket | Getty Images LONDON — The Bank of England voted Thursday to raise the key rate from 1.75% to 2.25%, lower than the 0.75 percentage point rise many traders had expected. Inflation in the … Read more

Investors brace for potential rate cut amid 80% inflation in Turkey

An electronic board displays exchange rate information at a currency exchange office in Istanbul, Turkey on Monday, August 29, 2022. Nicole Tung | Bloomberg | Getty Images The Turkish lira hit a new all-time low on Thursday, trading at 11:30 am at 18,377 against the dollar in Istanbul, continuing its downward decline of more than … Read more

What to expect at the next Bank of Japan (BOJ) meeting as the yen falls?

The Japanese yen is hovering close to its weakest level since 1998, and authorities have suggested taking action to stem the currency’s decline. Ahead of the Bank of Japan’s rate decision later this week, CNBC is looking at whether Japan’s central bank could move away from its ultra-easy monetary policy as the Federal Reserve maintains … Read more

Shares plunge after inflation remains higher than expected

NEW YORK — Stocks tumble and disappointment shakes markets around the world on Tuesday, after Wall Street realized inflation isn’t slowing down as much as hoped. the S&P 500 fell 2.3% in Tuesday’s early trading day, threatening to hit a four-day winning streak. Bond prices also fell sharply, pushing their yields higher after a report … Read more

Weak yen most ‘textbook-driven currency movement’ in 30 years: Monex Group

The worst is not over for the Japanese yen – it could fall further in the coming months, according to Jesper Koll, director of financial services firm Monex Group. “I think the parabolic overshoot is still on track, so I expect to see 150, 160 in the coming months,” Koll told CNBC’s “Street Signs Asia” … Read more