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☆ New Delhi’s Iron Pillar has been exposed to the elements for centuries. So why hasn’t it ever shown signs of rust?
▼ + stars: | 2024-05-07 | by ( Poonam Binayak | ) edition.cnn.com time to read: +7 min

The Quwwat-ul-Islam mosque is part of the UNESCO-listed Qutb Minar complex. Scientists both in India and abroad began studying the iron pillar in Delhi in 1912 to try to figure out why it hadn’t corroded. Stuart Forster/ShutterstockBeyond its metallurgical intrigue, the origin of the Iron Pillar is also veiled in mystery. In the epic poem “Prithviraj Raso,” penned by Chand Bardai, a courtier in the Chahamana dynasty under King Prithviraj Chauhan, the Iron Pillar holds great significance. “Bardai describes the Iron Pillar in Raso as a nail holding the Earth on the hoof of Sheshnag, the serpent king in Hindu mythology,” says Vikramjit.

Persons: Qutb, Anders Blomqvist, Balasubramaniam, Stuart Forster, Gupta, Chandragupta II, Vikramaditya, Vishnu, It’s, Garuda, Vikramjit Singh Rooprai, King Vikramaditya, Siddhanta, ”, Raja Anangpal, Qutbuddin, Prithviraj Raso, Chand Bardai, King Prithviraj Chauhan, “ Bardai, “ Raso, Anangpal, Qutub, Ravi Pratap Singh, Pragya Nagar Organizations: CNN, New Delhi’s UNESCO, UNESCO, Indian Institute of Technology, National Metallurgical Laboratory, Indian Institute of Metals, Varāhamihira, ASI, Survey Locations: Mehrauli, Islam, India, Delhi, Kanpur, Varah, Udayagiri Caves, Vidisha, Madhya Pradesh, “, Mihirapuri, Tomar, Raso

☆ Yen poised for best week in over a year; dollar waits on U.S. jobs data
▼ + stars: | 2024-05-03 | by ( ) www.cnbc.com time to read: +3 min

Elsewhere, the dollar lost ground against most of its peers and was headed for its worst week in nearly two months, in part due to the sharp rise in the yen this week. The euro ticked up 0.05% to last trade at $1.0730, and was eyeing a weekly gain of 0.35%. "Recent Fed speech has acknowledged the lack of progress on inflation and the desire to maintain the current level of policy rates for longer. Down Under, the Australian dollar edged 0.07% higher to $0.6570, and was on track to gain nearly 0.6% for the week. The New Zealand dollar tacked on a marginal 0.03% to $0.5963, and was eyeing a 0.4% weekly gain.

Persons: Tokyo's, Vishnu Varathan, Jerome Powell, Sterling steadied, Tai Hui Organizations: Traders, Bank of Japan, Ministry of Finance, Mizuho Bank, Federal, Fed, Morgan Asset Management, New Zealand Locations: Asia, tenterhooks, Tokyo, Japan

☆ Dollar a tad softer as markets wait for Fed
▼ + stars: | 2024-04-29 | by ( ) www.cnbc.com time to read: +2 min

Japan's yen was at 158.05 per dollar, up nearly 0.2% in quiet trading with Tokyo markets closed for the first of the country's Golden Week holidays. "The bar is pretty high for a sustained hawkish surprise, which would in turn lift yields," he said, referring to the Fed. "The BOJ disappointment might be transcribed onto the FOMC insofar that they may be more undecided than decidedly hawkish." The Fed is seen holding its benchmark interest rate steady at 5.25%-to-5.5% at the April 30-May 1 meeting. Markets are also on guard for any intervention by Japanese authorities to contain the yen's nearly 11% fall this year.

Persons: Jerome Powell, Vishnu Varathan, Sterling Organizations: U.S, Bank of, Mizuho Bank, Market Committee Locations: Japan, Tokyo, Bank of Japan, Asia, Singapore

☆ At a Holi festival in Brooklyn, tradition and contemporary celebration create a colorful union
▼ + stars: | 2024-04-15 | by ( Sheetal Banchariya | ) www.businessinsider.com time to read: +8 min

The Hindu festival Holi has become more popular and inclusive, especially in the Indian diaspora. The Hindu festival of colors, observed as Holi in India and Fagu Purnima in Nepal, holds immense cultural significance for South Asians. "There were not many or any events celebrating Holi at that time, despite a considerable number of Indians living in Jackson Heights," she said. He said that over the years he'd seen Indians, Pakistanis, Nepalese, Bhutanese, Sri Lankans, African Americans, and Irish people attending his Holi event. Love was in the air at the Holi celebration.

Persons: —, Fagu, bhalle, gulab jamun, I'd, Sheetal, Zayira Ray, Uma Kapoor, Kapoor, Manny Singh, Jarrod Fox, Festivalgoers, Akash Sheth, Sheth, Singh, Elise Young, Elise's Bodyshop, Carmen Perez, Young, who's, Vijay Satnarine, It's, Satnarine, Love, Lord Vishnu, King Hiranyakashipu, Prahlad, Hiranyakashipu's, Holika, Radha Rani, Lord Krishna Organizations: Service, BI, Morgan, Morgan Stanley's IT, Google, Hindu American Foundation, gulal, Apple Locations: Brooklyn , New York, India, Fagu Purnima, Nepal, New York, Asian, Queens , New York, Jackson Heights, Jersey, New York City, Morgan Stanley's, City, Brooklyn, Sri Lankans, African, Connecticut, Massachusetts, London, Wales

☆ While many flock to see the eclipse, these cultures are doing something different
▼ + stars: | 2024-04-05 | by ( Harmeet Kaur | ) edition.cnn.com time to read: +8 min

CNN —For many people, the upcoming total solar eclipse is a joyous and celebratory occasion. But in other cultures and faith traditions, an eclipse is less spectacle and more spiritual. Having drunk the nectar, Rahu becomes immortal while Ketu dies. Some Christians believe it signals the second coming of ChristPeople visit the Bald Knob Cross near Alto Pass, Illinois, on August 19, 2017 ahead of a total solar eclipse. The New Testament of the Bible contains several mentions of the sky darkening while Jesus was hung on the cross, which some believers associate with a solar eclipse.

Persons: Sanjay Kanojia, Sangeetha Kowsik, Kowsik, Vishnu, Mohini, Ketu, Rahu, Hanuman, ” Kowsik, Ganesha, Lord Hanuman, Fachrul Reza, NurPhoto, Akif Aydin, Muhammad’s, Ibrahim, Aydin, —, Prophet Muhammad, ”, Scott Olson, Jesus Christ, Jesus, Matthew, “, “ Eli, Eli, lema, Joel, Andrea L, Robinson, Brian van der, Evelyn Bahe, ” Bahe, Bahe, Institute’s Nancy C, Maryboy, David Begay, Kristin Fisher Organizations: CNN, Getty, New York University, Atlantic Institute SC, Christ People, Christianity, “, Los Angeles Times, Department of Diné, Sun, Institute’s Locations: Mexico, Canada, Prayagraj, Yamuna, AFP, South India, Lhokseumawe, Indonesia, South Carolina, Alto Pass , Illinois, American, America, it’s, Navajo, Rock , Arizona

☆ CNBC Daily Open: A projection is not a promise
▼ + stars: | 2024-04-03 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +2 min

Spencer Platt | Getty Images News | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayThe bottom lineU.S. Federal Reserve officials are dampening rate cut expectations again, and again. In comments echoing those of the Federal Open Market Committee's two weeks ago, San Francisco Fed President Mary Daly said Tuesday she expects cuts this year — but wants to see more convincing evidence that inflation has been subdued. "Three rate cuts is a projection, and a projection is not a promise," Daly said.

Persons: Spencer Platt, Mary Daly, Daly, Loretta Mester, Vishnu Varathan, —, Jeff Cox Organizations: New York Stock Exchange, Getty, CNBC, Federal Reserve, Federal, San Francisco Fed, Cleveland Federal, Malaysian, U.S Locations: New York City, U.S, Asia, Japan

The BOJ will now look to utilize its short-term interest rate as its primary policy tool. It will employ an interest rate of 0.1% to current account balances held by financial institutions at the central bank from March 21, while encouraging the uncollateralized overnight call rate (another interest rate used as a policy lever by the bank) to remain at around 0 to 0.1% — effectively raising interest rates from -0.1% previously. It would resort to "nimble responses" in the form of increased Japan government bond purchases and fixed-rate purchases of JGBs, among other things, if there is a rapid rise in long-term interest rates. Japanese investors have looked elsewhere for better returns given years of artificially depressed interest rates in their home market. The Fed is due to announce its own interest rate decision on Wednesday.

Persons: Japan Alexander Spatari, Kazuo Ueda, Rob Carnell, BOJ, Ueda, Michael Brown, —, JGBs, Vishnu Varathan, Hayden Briscoe, Briscoe Organizations: Japan's, Japan Inc, Asia, ING, CNBC, Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, Mizuho Financial Group, Bank of America, Barclays, U.S . Federal, UBS Asset Management Locations: Dotonbori, Japan, Japan's, U.S, Mizuho's, Asia

☆ China has vowed to save its crashing stock market, but investors are just not convinced
▼ + stars: | 2024-02-05 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Read previewChina's stock market watchdog upped its game over the weekend after its brutal week of selloff, vowing to prevent "abnormal market fluctuations" — but stock market investors don't seem quite convinced. These continued gyrations in China and Hong Kong's stock markets have widened losses that are now totaling $7 trillion following an extended market meltdown since their peaks in 2021, as foreign investors beeline for the exit. Still, Beijing's frequent pronouncements on market stabilization may not be a bad thing. Advertisement"The frequency of these statements may indicate market stabilization is becoming more important for policymakers," wrote analysts at Dutch bank ING wrote on Monday. "Formalization of a potential market stabilization fund could provide a short-term boost for markets but investor sentiment remains downbeat for now, awaiting improvement in fundamentals," the ING analysts added.

Persons: —, selloff, Vishnu Varathan, Nomura Organizations: Service, China Securities Regulatory Commission, Business, Asia Asia, Mizuho Bank, Nomura, ING, Bloomberg Locations: China, Asia, Japan, Shanghai, Hong, Beijing

☆ Mizuho says China's recent policy support is driven by its desire for social stability
▼ + stars: | 2024-01-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMizuho says China's recent policy support is driven by its desire for social stabilityChina isn't boosting the stock market for its own sake, says Vishnu Varathan of Mizuho Bank.

Persons: Vishnu Organizations: Mizuho, Mizuho Bank Locations: China

☆ Factbox-What Are the Contentious Events Behind India's New Ram Temple?
▼ + stars: | 2024-01-20 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +3 min

(Reuters) - Indian Prime Minister Narendra Modi will lead a ceremony on Monday to consecrate a grand new temple to the Hindu god-king Ram, delivering on a campaign promise his political party made more than three decades ago. Legal battles ended in 2019 with the Supreme Court deciding to allow a Hindu temple to be built there, on condition that Muslims received another plot to build a mosque. In Dec. 1949, authorities seized the mosque after Hindu activists placed idols of Ram inside the disputed structure. Hindu and Muslim groups tried unsuccessfully to resolve the dispute through talks, before Modi's Hindu nationalist Bharatiya Janata Party (BJP) launched a nationwide campaign in 1990 to build the temple. He rode to the office of prime minister in 2014 on a Hindu nationalist platform that included the promise to build the temple.

Persons: Narendra Modi, Ram, Modi, Modi's, Nripendra Misra, Lord Vishnu, Babur, India's, Lal Krishna Advani, Krishn Kaushik, Krishna Das, YP Rajesh, Clarence Fernandez Organizations: Reuters, Indian, Bharatiya Janata Party, BJP, YP Locations: India, Ayodhya, Uttar Pradesh, New Delhi, Gujarat

☆ A war over Taiwan would be even more damaging to the US economy than COVID was, Bloomberg forecasts
▼ + stars: | 2024-01-09 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

A war over Taiwan could wipe out 6.7% from the US economy in its first year, according to a Bloomberg Economics analysis. AdvertisementThe US economy could take a major hit if war breaks out over Taiwan, according to a Bloomberg Economics analysis published on Tuesday. US GDP could take a 6.7% hit in the first year of conflict if Washington gets drawn into the war, Bloomberg forecasts. AdvertisementOverall, a war over Taiwan could hit the world's economy to the tune of $10 trillion — or about 10% of global GDP — Bloomberg forecasts. Bloomberg Economics' analysis is based on geopolitical considerations and economic modeling.

Persons: —, Xi Jinping, William Lai Ching, Lai, Vishnu Varathan Organizations: Bloomberg, Service, Democratic Progressive Party, Mizuho Bank Locations: Taiwan, China, Washington, South Korea, Japan, Beijing, Asia

The New Zealand dollar was last up 1.1% at a four-month high of $0.6207, having blown past resistance. The U.S. dollar, meanwhile, slid to fresh multi-month lows on the euro, yen, sterling, the Australian dollar, yuan and Swiss franc. Overnight Fed Governor Christopher Waller - an influential and previously hawkish voice at the U.S. central bank - told the American Enterprise Institute that rate cuts could begin in a matter of months, provided inflation keeps falling. Fed funds futures rallied on the remark to price more than hundred basis points of cuts in 2024 and 40% chance they begin as soon as March. Two-year Treasury yields fell sharply and along with the dollar fell further still in Asia.

Persons: Christopher Waller, Governor Waller's, Tapas Strickland, Jerome Powell, Waller, CONDITIONALITY Waller's, Seng, Vishnu Varathan, Simon Cameron, Moore Organizations: New Zealand, Nikkei, U.S ., Swiss, U.S, American Enterprise Institute, Governor, National Australia Bank, Fed, HK, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, Hong Kong, Sydney, China, Meituan, Zealand, Singapore

☆ Beijing is making its biggest move yet to patch up the property crisis threatening to blow up China's economy
▼ + stars: | 2023-11-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

China is drafting a "white list" of property developers for bank financing, per Bloomberg. China's massive property sector is in a slump, adding to the country's post-COVID economic woes. AdvertisementChina's finally starting to do something about the three-year property crisis that's been weighing on its COVID-scarred economy. China's real-estate sector has been mired in a crisis since the second half 2021 when a liquidity crisis at Evergrande — once China's second-largest developer — came into public view. AdvertisementStill, not everyone is convinced Beijing's property "white list" will be the solution to China's property problems.

Persons: —, China's, Nomura, it's, Rory Green, Green, White Knight, Vishnu Varathan Organizations: Bloomberg, Service, BI, Mizuho Bank, Business Locations: China, Beijing, Asia

☆ Dollar beaten to over two-month low as Fed cut bets take charge
▼ + stars: | 2023-11-20 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. Against the weaker greenback, the euro hit its highest since August at $1.09365, while the yen firmed at a one-month high of 148.68 per dollar. The Japanese yen remained on the stronger side of 150 per dollar and was last 0.3% higher at 149.17. The onshore yuan rose 0.5% to an over three-month high of 7.1700 per dollar, while the offshore yuan similarly got a boost and jumped roughly 0.6% to an over three-month top of 7.1703 per dollar. The Aussie was last 0.5% higher at $0.6546, having struck a three-month high of $0.6563 earlier in the session, while the kiwi gained 0.54% to $0.6025.

Persons: Dado Ruvic, Carol Kong, Vishnu Varathan, CBA's, Rae Wee, Sam Holmes Organizations: REUTERS, Rights, Federal Reserve, New Zealand, Fed, Commonwealth Bank of Australia, Treasury, ., Mizuho Bank, Thomson Locations: Rights SINGAPORE, Asia, China

☆ Dollar stumbles to over two-month low as markets eye Fed cuts
▼ + stars: | 2023-11-20 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

The yuan struck three-month highs in both the onshore and offshore markets, propped up by China's central bank, while the Australian dollar similarly scaled a three-month top against the falling greenback. "If we do see risk appetite improve again, then the dollar can definitely weaken further." Against the weaker dollar, the euro rose to an over two-month high of $1.0924, ahead of flash PMI readings in the euro zone due later this week. The risk-sensitive Australian dollar edged roughly 0.5% higher to $0.6546, its strongest level since August, while the New Zealand dollar rose 0.52% to $0.60235. The onshore yuan rose 0.5% to an over three-month high of 7.1753 per dollar, while the offshore yuan similarly got a boost and jumped roughly 0.6% to an over three-month top of 7.1745 per dollar.

Persons: Dado Ruvic, Carol Kong, Sterling, Vishnu Varathan, CBA's, Rae Wee, Sam Holmes Organizations: REUTERS, Rights, Federal Reserve, Fed, Commonwealth Bank of Australia, Treasury, ., Mizuho Bank, New Zealand, Thomson Locations: Rights SINGAPORE, Asia, China

☆ Rescuers in India tunnel collapse begin replacing drilling machine on 7th day
▼ + stars: | 2023-11-18 | by ( Saurabh Sharma | ) www.reuters.com time to read: +2 min

The disaster management office revised the number of people trapped since Sunday morning in the tunnel in Uttarakhand state to 41, up from 40. A rescue mission is currently underway at the Silkyara tunnel in Uttarakhand to free 41 workers who are stuck inside following a landslide. Authorities have not said what caused the 4.5-km (3-mile) tunnel to cave in, but the region is prone to landslides, earthquakes and floods. Work was suspended on Friday after a "large-scale cracking sound" was heard as rescue workers sought to restart the drilling machine, according to a report from NHIDC. Close to 100 tunnel workers gathered at the site on Saturday, demanding faster progress in reaching and freeing those trapped.

Persons: Shankar Prasad Nautiyal, Anshu Malik Halko, Halko, Vishnu Sahu, Sahu, Saurabh Sharma, Ira Dugal, William Mallard, Tom Hogue Organizations: REUTERS, Highways, Infrastructure Development Corporation, Reuters, Authorities, Thomson Locations: Uttarkashi, Uttarakhand, India, Madhya Pradesh

☆ Diwali, the Festival of Lights, explained
▼ + stars: | 2023-11-11 | by ( Manav Tanneeru | Harmeet Kaur | ) edition.cnn.com time to read: +6 min

CNN —More than a billion Hindus, Sikhs, Jains and Buddhists around the world are celebrating Diwali, the festival of lights. Narinder Nanu/AFP/Getty Images• Choti Diwali, or Naraka Chaturdashi: The second day of Diwali marks Lord Krishna’s defeat of the demon king Narakasura. • Diwali, or Lakshmi Puja: The third day of the festival is what people typically think of as Diwali. For some Hindus, Diwali marks Rama and Sita’s triumphant return to their kingdom after 14 years of exile. For Jains, Diwali signifies the day Lord Mahavira, their last spiritual leader, attained physical death and achieved enlightenment.

Persons: It’s, Rafiq Maqbool, Lakshmi, Dhanvantari, Ayurveda, Narinder Nanu, Krishna’s, Narakasura, •, Krishna, Lord Indra’s, • Bhai Dooj, Lord Yama, tilak, Prince Rama, Vishnu, Sita, Ravana, Rama, Sita’s, Xavier Galiana, Lord Krishna’s, Bali, Bandi, Hargobind, Emperor Jahangir, Jahangir, Guru Hargobind, Mahavira, Emperor Ashoka, Manjunath Kiran, patti, Shiva, Parvati Organizations: CNN, Getty, Lord Locations: India, Nepal, Malaysia, Fiji, Homes, Mumbai, AFP, Vrindavan, Bangalore

Euro zone business activity data took a surprise downturn this month, suggesting the bloc may slip into recession, creating a drag on the outlook for oil demand. Overall, the region's oil refineries have been consuming less crude than a year ago amid lacklustre economic growth, Euroilstock data has shown. Falling crude oil stockpiles in the U.S., the world's biggest oil consumer also supported prices. That went against eight analysts polled by Reuters who had estimated on average that crude inventories were up by about 200,000 barrels for the week. Gasoline inventories dropped by 4.2 million barrels, while distillate inventories fell by about 2.3 million barrels, the API data showed.

Persons: Nick Oxford, Israel, Vishnu Varathan, durably, Varathan, Stephanie Kelly, Muyu Xu, Tom Hogue Organizations: REUTERS, U.S, West Texas, Iran, Mizuho Bank, American Petroleum Institute, Reuters, Thomson Locations: Cushing , Oklahoma, Gaza, East, Israel, Palestinian, Saudi Arabia, China, U.S

☆ This otherworldly image of an alien-like golden crab has won gold in Wildlife Photographer of the Year
▼ + stars: | 2023-10-12 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +5 min

This year's Wildlife Photographer of the Year Grand Title went to a picture of a very strange crab. AdvertisementAdvertisementAn image of a rare golden horseshoe crab gliding close to the sea floor has won Laurent Ballesta the grand prize at the Wildlife Photographer of the Year award. Wildlife Photographer of the Year, developed and produced by the Natural History Museum in London, selected the winning picture from about 50,000 entries. VISHNU GOPAL / Wildlife Photographer of the YearPhotographer Vishnu Gopal followed characteristic footsteps at his campsite into the Brazilian rainforest. Mike Korostelev / Wildlife Photographer of the YearMike Korostelev spent two years visiting Kosi Bay, South Africa, to ingratiate himself with the local hippopotamuses.

Persons: Laurent Ballesta, —, Kathy Moran, Vishnu Gopal, GOPAL, Mike Korostelev, ingratiate, Juan Jésus Gonzales Ahurrada, Juan Jésus Gonzales, didn't, Bertie Gregory, Weddell, Karine Aigner, Karine Organizations: Service, Wildlife, West Texas Locations: London, Pangatalan, Philippines, Bay, South Africa, USA

[1/2] Dollar banknotes are seen under Euro saving money box in this picture illustration taken February 16, 2017. The European common currency was last down 0.16% at $1.0533, a touch above Tuesday's 10-month low of $1.0448 but still set for a further weekly decline of 0.2% making that streak the longest since its launch in 1999. The dollar's recent strength has been underpinned by a rapid sell-off in U.S. government bonds, which sent yields to multi-year highs. "The pause in the bond sell-off is granting some room for recovery for most currencies against the dollar. The Australian dollar was steady at $0.6364, but set for a 1% weekly decline.

Persons: Dado Ruvic, Francesco Pesole, Vishnu Varathan, Rae Wee, Alun John, Shri Navaratnam Organizations: REUTERS, Rights, ING, Bank of Japan, Ministry of Finance, Mizuho Bank, Swiss, Thomson Locations: Rights SINGAPORE, LONDON, U.S, United States, Singapore, London, Lincoln

☆ Dollar pauses rally as markets brace for U.S. nonfarm payrolls test
▼ + stars: | 2023-10-06 | by ( ) www.cnbc.com time to read: +3 min

The dollar dipped on Friday but traders were largely keeping to the sidelines in both the currency and U.S. Treasury markets as they looked to U.S. nonfarm payrolls data later in the day for potential catalysts. The dollar index , which earlier in the week hit a roughly 11-month high of 107.34, last settled at 106.37, but remained on track for 12 straight weeks of gains. The benchmark 10-year Treasury yield last stood at 4.7269%, while the two-year yield settled at 5.0267%. The pause in the dollar's rally has also provided a much-needed reprieve for the yen , which last bought 148.48 per dollar. Sterling edged 0.03% lower to $1.2188 and was likewise headed for five straight weeks of losses, struggling against a dominant dollar.

Persons: Rodrigo Catril, We've, Vishnu Varathan, Thierry Wizman Organizations: . Treasury, greenback, U.S, Treasury, National Australia Bank, Bank of Japan, Ministry of Finance, Mizuho Bank ., Sterling, European Central Bank, Bank of England, Reserve Bank of Australia, New Zealand, Reserve Bank of New Locations: U.S, Reserve Bank of New Zealand

☆ Dollar pauses rally as markets brace for US nonfarm payrolls test
▼ + stars: | 2023-10-06 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. The dollar index , which earlier in the week hit a roughly 11-month high of 107.34, last settled at 106.37, but remained on track for 12 straight weeks of gains. The benchmark 10-year Treasury yield last stood at 4.7269%, while the two-year yield settled at 5.0267%. The pause in the dollar's rally has also provided a much-needed reprieve for the yen , which last bought 148.48 per dollar. Sterling edged 0.03% lower to $1.2188 and was likewise headed for five straight weeks of losses, struggling against a dominant dollar.

Persons: Rick Wilking, Rodrigo Catril, We've, Vishnu Varathan, Thierry Wizman, Rae Wee, Shri Navaratnam Organizations: REUTERS, Rights, . Treasury, greenback, U.S, Treasury, National Australia Bank, Bank of Japan, Ministry of Finance, Mizuho Bank ., Sterling, European Central Bank, Bank of England, Reserve Bank of Australia, New Zealand, Reserve Bank of New, Thomson Locations: Westminster , Colorado, Rights SINGAPORE, U.S, Reserve Bank of New Zealand

China's onshore yuan meanwhile ended its domestic session at the weakest since 2007, as it battles capital outflow pressures and a widening yield gap with major economies. The U.S. dollar index , which measures the greenback against major peers, was last 0.05% lower at 105 but remained not far from the previous session's six-month high of 105.15. IN THE DOLDRUMSThe onshore yuan opened at 7.3400 per dollar on Friday and touched its weakest level since December 2007 at 7.3510, while its offshore counterpart sank to a 10-month low of 7.3621 per dollar. The onshore yuan has fallen roughly 6% against the dollar so far this year and has become one of the worst-performing Asian currencies alongside its offshore counterpart. The Australian dollar was last 0.28% higher at $0.6395, but eyed a weekly loss of over 0.8%.

Persons: Dado Ruvic, Dane Cekov, Nordea's Cekov, Sterling, Vishnu Varathan, Shunichi Suzuki, Samuel Indyk, Rae Wee, Shri Navaratnam, Gerry Doyle, Angus MacSwan, Mark Heinrich Our Organizations: REUTERS, U.S, Nordea, Mizuho Bank, Finance, Bank of Japan, Bank of, Australian, New Zealand, Thomson Locations: U.S, Germany, Europe's, Europe, United States, Bank of Japan

☆ Don’t Miss Comet Nishimura This Weekend, a Once-in-a-Lifetime View
▼ + stars: | 2023-09-08 | by ( Katrina Miller | More About Katrina Miller | ) www.nytimes.com time to read: +1 min

Astronomy aficionados are buzzing about a bright new comet. The ball of dust and ice is formally named C/2023 P1, but is also called Comet Nishimura, for Hideo Nishimura, the Japanese photographer who first spotted it. How was the comet discovered? Mr. Nishimura captured the comet on Aug. 12 while imaging the sky before sunrise with a digital camera — the third comet he has discovered. That’s exactly how scientists discovered Comet NEOWISE in 2021, which was named for the NASA space telescope that detected it, the Near-Earth Object Wide-field Infrared Survey Explorer.

Persons: Comet Nishimura, Hideo Nishimura, Nishimura, Vishnu Reddy, ” Dr, Reddy, Comet NEOWISE Organizations: Central Bureau, University of Arizona, NASA, Survey

But it was U.S. Treasuries that hogged the limelight once again, with benchmark 10-year yields climbing to 4.366% - their highest level since 2007 and up almost 40 bps month-to-date - before losing some ground to 4.3141%. "There's a more cautiously optimistic mood across financial markets," said Fiona Cincotta, senior markets analyst at City Index in London. At the same time, however, inflation expectations have hardly budged - meaning "real" yields, which discount inflation expectations, have surged - a development likely to prompt investors to re-evaluate taking risks. The 10-year real rate breached 2% late last week. In Europe, benchmark bond yields in Germany, France and Italy eased after Monday's sharp climb , , .

Persons: BOJ's Ueda, Fiona Cincotta, Jackson, Padhraic Garvey, Vishnu Varathan, Kazuo Ueda, Karin Strohecker, Elizabeth Howcroft, Dhara Ranasinghe, Tom Westbrook, Chizu Organizations: REUTERS, Staff, Nvidia, Wall, Index, Federal Reserve, Treasury, ING . Markets, Fed, European Central Bank, Bank of England, Bank of Japan, Mizuho Bank, NVIDIA, Wednesday, Tech, P, Brent, Benchmark, Dalian, Thomson Locations: Frankfurt, Germany, Europe, Asia, U.S, London, Americas, Jackson Hole , Wyoming, Singapore, France, Italy

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