Oil prices rose more than $1 today, reversing the previous days loss, amid concerns over a possible US recession reducing demand in the world’s largest oil consumer. Brent crude prices rose $1.25, or 1.6%, to $77.55 per barrel, while US West Texas Int…
Business
Dollar Suffers Sharp Losses amid Weaker Yen, Rate Cut Expectations
The US dollar suffered steep losses today, with the Japanese yen on the back foot after a sharp rise in the previous session as traders contend with unwinding of popular carry trades and the prospect of deep rate cuts from the Federal Reserve.
The do…
Japanese Yen to 7-Month Highs as US Economic Slowdown Persist
Japan’s yen today hit its highest levels against the dollar since January 2024, as markets extended moves triggered last week after weak US labour data stoked recession worries and expectations of deeper rate cuts by the Federal Reserve.
The dollar i…