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China Takes Its Most Visible Measure Yet to Curb Yuan's Rally

China forced banks to hold more foreign currencies in reserve for the first time in more than a decade, its most substantial move yet to rein the surging yuan. The nation's financial institutions will need to hold 7% of their foreign exchange in reserve from June ...

UPDATE 3-China raises banks' FX requirements to rein in yuan

Economic Times

... * FX reserve requirement ratios raised for financial institutions. * Yuan pulls back after hitting three-year high vs dollar. * Set for strongest monthly gain since August. * Former forex official joins chorus cautioning on yuan gains (Recasts with FX reserve ...

UPDATE 1-China officials talk down buoyant yuan as basket hits 5-year high

The Edge Markets MY

(Recasts, updates with former official's commentary). SHANGHAI, May 31 (Reuters) - China's yuan climbed to a five-year top against a trade-weighted basket of currencies on Monday, exerting pressure on the country's exporters, even as officials continued to ...

Dollar in doldrums as traders ponder Fed policy path; sterling soars

Sterling hit a three-year high and the dollar traded under pressure on Tuesday, as investors waited for the next batch of U.S. and European data to shape the outlook on interest rates. Central bankers on both sides of the Atlantic have repeatedly said recent ...

Today's Your Last Chance To Shop These 176 Memorial Day Sales

Forbes

Forbes

Just like that, Memorial Day weekend is almost over—which means time is running out to shop huge discounts from just about every retailer you can possibly think of. Whether you've been meaning to buy a new mattress (psst, this is one of the best times of ...

A K-Shaped Global Recovery

Hello. Today we look at the OECD's new economic forecasts, examine what Friday's U.S. jobs report has in store and explore the interaction between trade and gender equality. Left Behind. The global economic recovery is looking K-shaped. That's the ...

Crypto Mining Booms on Cheap, Subsidized Energy in Argentina

Bitcoin miners in Argentina are capitalizing on the inefficiencies of the country's interventionist economy to reap outsize returns, fueled by memories of currency busts and powered by government-subsidized electricity. While numerous countries have ...

Brent hits $70 on demand prospects of US summer driving season

Brent crude futures for August gained 83 cents, or 1.2%, to $70.15 a barrel by 0223 GMT. U.S. West Texas Intermediate crude for July was at $67.61 a barrel, up $1.29, or nearly 2% from Friday's close, with no settlement price for Monday due to a U.S. public ...

Oil prices climb on improving demand outlook

Oil prices climbed in early Asian trade on Monday, underpinned by the bright outlook for fuel demand growth in the next quarter, while investors looked ahead to the OPEC+ meeting this week to see how producers will respond. Brent crude futures for August ...

Brent hits $70 on demand prospects of US summer driving season

SINGAPORE (Reuters) -Oil prices rose on Tuesday, with Brent topping $70, as optimism grew over the fuel demand outlook during the summer driving season of the United States, the world's top oil consumer. FILE PHOTO: Crude oil storage tanks are seen in ...