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UPDATE 1-Sterling set for worst month vs dollar since September
  + stars: | 2021-06-25 | by ( Joice Alves | ) www.reuters.com + 0.00   time to read: +2 min
It also said inflation would surpass 3% as Britain’s economy reopens, but the climb further above its 2% target would only be temporary. Last week, sterling dropped below $1.38 against a strengthening dollar after the U.S. Federal reserve surprised markets by signalling it would raise interest rates and end emergency bond-buying sooner than expected. Sterling was down 0.04% against the dollar at $1.3919 at 1350 GMT, on track for its worst month against the greenback since September 2020. Jeffrey Sacks, EMEA Head Investment Strategy at Citi Private Bank, said he favoured sterling over the euro. “Sterling continues to benefit from inflows driven by pent-up demand for all asset classes and is inexpensive in valuation terms,” he said.
Persons: BoE, “ Sterling, , Jim Reid, Sterling, Jeffrey Sacks, Joice Alves, Kevin Liffey Organizations: Sterling, Bank of England, Deutsche Bank, U.S . Federal, Investors, European Union, Investment, Citi Private Bank Locations: Britain, England, British, Northern Ireland
Economists polled by Reuters had forecast consumer spending would rise 0.4% in May. Spending is also starting to shift back to services, which accounts for two-thirds of consumer spending, weighing on goods. The pace is not yet sufficient to offset the drag on consumer spending from goods. When adjusted for inflation, consumer spending fell 0.4% last month after rising 0.3% in April. Despite May’s drop in the so-called real consumer spending, consumption is running higher than its pace in the first quarter.
Persons: , James Sweeney, , Sam Bullard, Jerome Powell, ” Powell, Janet Yellen Organizations: Federal, The Commerce Department, Reuters, Credit Suisse, VOGUE, Treasury Locations: WASHINGTON, New York, U.S, Wells, Charlotte , North Carolina
CANADA FX DEBT-C$ adds to weekly gain as investors cheer U.S. inflation data
  + stars: | 2021-06-25 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +1 min
The loonie was trading 0.2% higher at 1.2294 to the greenback, or 81.34 U.S. cents. It was on track to gain 1.4% for the week, after four consecutive weekly declines. Wall Street rose and the U.S. dollar fell against a basket of major currencies as underlying inflation in the United States rose at a slower-than-expected rate in May. Investors have been struggling to interpret signals from the Fed about how hot it is willing to let inflation run. The 10-year eased about half a basis point to 1.410% but held well above the 3-1/2-month low it hit last Friday at 1.364%.
Persons: Fergal Smith, Jonathan Oatis Organizations: U.S, Federal, U.S ., Investors Locations: TORONTO, United States
U.S. consumer spending takes breather; inflation pushes higher
  + stars: | 2021-06-25 | by ( Lucia Mutikani | ) www.reuters.com + 0.00   time to read: +5 min
Economists polled by Reuters had forecast consumer spending would rise 0.4% in May. Spending is also starting to shift back to services, which accounts for two-thirds of consumer spending, weighing on goods. The pace is not yet sufficient to offset the drag on consumer spending from goods. When adjusted for inflation, consumer spending fell 0.4% last month after rising 0.3% in April. Despite May's drop in the so-called real consumer spending, consumption is running higher than its pace in the first quarter.
Persons: King, King of Prussia, Mark Makela, James Sweeney, Sam Bullard, Jerome Powell, Powell, Janet Yellen, Lucia Mutikani, Chizu Organizations: REUTERS, Federal, The Commerce Department, Reuters, Credit Suisse, VOGUE, Treasury, Thomson Locations: Prussia, United States, King, King of Prussia , Pennsylvania, U.S, WASHINGTON, New York, Wells, Charlotte , North Carolina
MOSCOW — Russia accused Britain and the United States on Friday of trying to incite conflict in the Black Sea and said it would defend its borders using all possible means, including military force. Russia claims the U.K.'s HMS Defender violated its border near Cape Fiolent in Crimea on Wednesday. "Washington and London are denying reality... they are trying to provoke conflict," he said. It confirmed a British destroyer, HMS Defender, had sailed through what it described as waters belonging to Ukraine. The British embassy in Tbilisi, the Georgian capital, wrote on Twitter on Friday that HMS Defender was set to arrive in the port city of Batumi on the eastern coast of the Black Sea.
Persons: Britain, Sergei Ryabkov, Ryabkov Organizations: British, Russian Federal Security Service, TASS Russia, NBC, HMS, Twitter, Russia's Defence Ministry Locations: MOSCOW, Russia, United States, Moscow, Britain, Crimea, Russian, Washington, London, Cape Fiolent, Ukraine, British, Tbilisi, Batumi, Syria's
Dollar edges lower ahead of U.S. inflation data
  + stars: | 2021-06-25 | by ( Ritvik Carvalho | ) www.reuters.com + 0.00   time to read: +3 min
LONDON (Reuters) - The dollar drifted lower in Europe on Friday as an agreement on U.S. infrastructure spending underpinned appetite for riskier currencies, but caution ahead of key U.S. inflation data kept losses to a minimum. FILE PHOTO: An employee counts U.S. dollar bills at a money exchange in central Cairo, Egypt, March 20, 2019. REUTERS/Mohamed Abd El GhanyThe risk-sensitive Antipodean currencies rose, as did the euro, gaining 0.1% to $1.1943, and the Japanese yen, which rose by about the same margin to 110.77 per dollar. “...The consensus is already expecting quite a large increase in the May PCE inflation data - looking for 3.9% YoY headline and 3.4% YoY core,” said strategists at ING in a note to clients. The Australian dollar rose 0.2% to $0.7595.
Persons: Mohamed Abd El Ghany, , John Williams, Khoon Goh, ” Goh, it’s, Bitcoin Organizations: REUTERS, Federal Reserve, Reuters, ING, New York Federal Reserve Bank, New Zealand, South Korean, ANZ, Bank of England, of England Locations: Europe, Cairo, Egypt, New, Asia, U.S, Mexico
* Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Adds details, updates prices)June 25 (Reuters) - Euro zone bond yields edged up on Friday ahead of U.S. inflation data that will give the latest steer on price pressures as economies bounce back from the coronavirus slump. Following a hefty sell-off last week after U.S. Federal Reserve policymakers brought forward their first projected rate hike to 2023 from 2024, euro zone bond markets calmed this week as they adapted to the Fed’s messaging. With little data coming out of the single currency bloc, euro area bond yields were steady in early Friday trade. In the primary market, Italy raised 3.75 billion euros from the auction of a bond due Nov 2022 and an inflation-linked 30-year bond in an auction. Southern European bond yields rose and Italian bonds underperformed the market, with 10-year yields up nearly 3 basis points to 0.89% as investors digested further Italian supply.
Persons: , Michael Leister, Isabel Schnabel Organizations: Federal Reserve, Reuters, , U.S, Southern, European Central Bank Locations: Italy
Virgin Galactic Gets FAA Approval to Fly Customers to Space
  + stars: | 2021-06-25 | by ( Chris Wack | ) www.wsj.com sentiment -0.87   time to read: +1 min
Richard Branson’s Virgin Galactic Holdings Inc. said Friday the Federal Aviation Administration will allow it to fly customers to space. Shares of Virgin Galactic rose more than 15% in early-morning trading. Virgin Galactic and Blue Origin, a company founded by Amazon.com Inc. founder Jeff Bezos, are competing in the consumer space race. Mr. Branson plans to join a Virgin Galactic crewed test flight later this year. Earlier this month, Mr. Bezos said he plans to travel to space on July 20 as part of the first crew carried by Blue Origin, the Amazon.com founder’s space company.
Persons: Richard Branson’s, Jeff Bezos, Branson, Bezos Organizations: Richard Branson’s Virgin Galactic Holdings Inc, Federal Aviation Administration, Virgin Galactic, Amazon.com Inc, Virgin, Mr, Origin, Galactic’s
S&P 500 Opens Higher to Extend Weekly Gains
  + stars: | 2021-06-25 | by ( Joe Wallace | ) www.wsj.com + 0.97   time to read: +1 min
U.S. stocks edged higher Friday, heading for their best week in more than two months amid renewed confidence in a global economic expansion. The S&P 500 climbed 0.2%, a day after the broad stocks gauge posted a record closing high for the 30th time in 2021. Stocks have rallied, pushing the S&P 500 up 2.4% through Thursday, after stumbling when the Federal Reserve signaled it was concerned about rising inflation last week. “It is natural that you’ll see very mini wobbles [in stocks] from time to time,” Mr. Redha added. “But the fundamental support—that things are improving and the numbers are getting better—is going to dominate that.”
Persons: Stocks, they’ve, , Hani Redha, ” Mr, Redha Organizations: Dow Jones, Nasdaq, Federal Reserve, PineBridge Investments Locations: U.S, Europe
PRECIOUS-Gold gains on dollar dip, while focus turns to inflation
  + stars: | 2021-06-25 | by ( Arundhati Sarkar | ) www.reuters.com sentiment -1.00   time to read: +2 min
Spot gold gained 0.4% to $1,783.02 per ounce at 0910 GMT, and was up over 1% for the week. While the weaker dollar is helping, gold is struggling to regain investor confidence after last week’s U.S. Federal Reserve meeting, Commerzbank analyst Daniel Briesemann said. A surprise hawkish tilt from the Fed had driven a sharp slide in bullion. However, the spending plan should be positive for gold, as it has to be financed to a large extent with higher debt, Briesemann added. Progress on the plan weighed on the dollar index, making gold cheaper for those holding other currencies, ahead of U.S. producer price data that could paint a clearer picture on rising inflation.
Persons: Daniel Briesemann, Briesemann, Jerome Powell, Giovanni Staunovo, Arundhati Sarkar, Alexander Smith Organizations: U.S, Federal Reserve, Fed, UBS Locations: Bengaluru
Lower U.S. Treasury yields make emerging market currencies look more attractive. In Europe, Hungary’s central bank was the first to kick off a hiking cycle, having raised rates by 30 basis points to 0.9%. The Czech crown was set to add 1.1% this week after the central bank raised rates by 25 basis points to 0.50%. Argentine markets were in focus after MSCI said it will reclassify its Argentina index to Standalone Markets status, from Emerging Markets, citing issues over strict capital controls. For GRAPHIC on emerging market FX performance in 2021, see tmsnrt.rs/2egbfVh For GRAPHIC on MSCI emerging index performance in 2021, see tmsnrt.rs/2OusNdXFor TOP NEWS across emerging marketsFor CENTRAL EUROPE market report, seeFor TURKISH market report, seeFor RUSSIAN market report, see
Persons: , Commerzbank, MSCI Organizations: U.S . Federal Reserve, Treasury, Fed, Emerging, JPMorgan, CENTRAL Locations: Hungarian, Argentina, Europe, East, Africa, Lower U.S, Czech, Philippine, Thai, Moscow, outflows
Sterling set for worst month vs dollar since September
  + stars: | 2021-06-25 | by ( Joice Alves | ) www.reuters.com sentiment -1.00   time to read: +2 min
* Graphic: World FX rates in 2020 tmsnrt.rs/2egbfVh* Graphic: Trade-weighted sterling since Brexit vote tmsnrt.rs/2hwV9HvLONDON, June 25 (Reuters) - Sterling edged lower on Friday and was on track for its worst month versus the dollar since September after the Bank of England kept its policy unchanged. Investors had hoped a more optimistic economic assessment from the BoE would push sterling back towards $1.40. Sterling was down 0.1% versus the dollar at $1.3910 at 0824 GMT, and it was on track for its worst month against the greenback since September 2020. Earlier this month, sterling dropped below $1.38 against a strengthening dollar after the U.S. Federal Reserve surprised markets by signalling it would raise interest rates and end emergency bond-buying sooner than expected. Versus the euro, the pound was 0.2% lower at 85.84 pence, but was still set for a weekly gain.
Persons: BoE, Sterling, Joice Alves, Pravin Char Organizations: Sterling, Bank of England, ING, Investors, U.S . Federal Reserve, European Union Locations: Britain, England, British, Northern Ireland, EU
Take Five: The missing piece in the Fed puzzle
  + stars: | 2021-06-25 | by ( ) www.reuters.com + 0.00   time to read: +4 min
Adding perky jobs data to the mix could change that picture, markets fear. Analysts expect the economy to add 600,000 jobs in June - the largest monthly gain in three months – up from a gain of 559,000 jobs in May. The U.S. Fed has shifted to a hawkish bias. Some mid-cap deals pulled stock market debuts recently: Marex Spectron in London, PHE Holdings in Paris and Primafrio in Madrid. But Nordgold aborting its debut might be the first casualty of expected central bank tightening as the hawkish Fed pushed gold 6% lower.
Persons: Jerome Powell, Philip Lane, Wise, Tom Westbrook, Dhara, Abhinav Ramnarayan, Marc Jones, Saqib Ahmed, Karin Strohecker, Toby Chopra Organizations: Federal Reserve, U.S, Fed, ECB, PHE Holdings, Bankers, CHINA BULLS, Thomson Locations: U.S, United States, Europe, Asia, London, Paris, Primafrio, Madrid, China, Singapore, New York
The scandal-hit Swiss bank (CSGN.S) was up 2.1% as the report said Credit Suisse's management was under pressure to come up with an overhaul plan. The STOXX 600 fell sharply from record highs last week after a surprisingly hawkish tone from Fed officials roiled global financial markets. Other so-called value stocks including miners (.SXPP) and energy (.SXEP) were also among the top gainers on the week. Construction-related stocks (.SXOP) added 0.6% following a jump in the U.S. infrastructure sector as U.S. President Joe Biden embraced a bipartisan Senate infrastructure deal. read moreGerman stocks (.GDAXI) fell 0.1% even as a report showed consumer sentiment improved more than expected heading into July.
Persons: Banks, Amigo, Michael Hewson, Joe Biden, Sagarika, Shounak Dasgupta Organizations: REUTERS, Credit Suisse, Reuters, UBS, U.S . Federal Reserve, PCE, CMC, European Central Bank, Bank of England, FTSE, Amigo Holdings, Thomson Locations: Frankfurt, Germany, Europe, U.S, Bengaluru
FOREX-Dollar dips, but with a wary eye on U.S. inflation data
  + stars: | 2021-06-25 | by ( Tom Westbrook | ) www.reuters.com + 0.00   time to read: +3 min
The risk-sensitive Antipodean currencies rose very slightly, while the euro gained 0.1% to $1.1940 and the yen rose by about the same margin to 110.80 per dollar. “The dollar can jump if inflation surprises to the upside,” said Joe Capurso, head of international economics at the Commonwealth Bank of Australia in Sydney. “Upside inflation surprises have been the trend in the U.S. recently,” he added. The Australian dollar rose 0.1% to $0.7591. Bank of England policymakers even warned against “premature tightening” and the pound was the worst performing G10 currency on Thursday.
Persons: , Joe Capurso, John Williams, Khoon Goh, ” Goh, it’s, Bitcoin Organizations: Federal Reserve, Commonwealth Bank of Australia, U.S ., Reuters, New York Federal Reserve Bank, New Zealand, South Korean, ANZ, Bank of England, of England Locations: 2RBWI5E SINGAPORE, Asia, Sydney, U.S, New, Mexico
The yuan opened at 6.4639 per dollar and was changing hands at 6.4642 at midday. The People's Bank of China (PBOC) set the midpoint rate at 6.4744 per dollar prior to market open, firmer than the previous fix of 6.4824. Negative number indicates that spot yuan is trading stronger than the midpoint. The People's Bank of China (PBOC) allows the exchange rate to rise or fall 2% from official midpoint rate it sets each morning. OFFSHORE CNH MARKET Instrument Current Difference from onshore Offshore spot yuan 6.467 -0.04% * Offshore 6.6349 -2.42% non-deliverable forwards ** *Premium for offshore spot over onshore **Figure reflects difference from PBOC's official midpoint, since non-deliverable forwards are settled against the midpoint.
Persons: PBOC, Joe Biden Organizations: U.S, Federal Reserve, People's Bank of China, greenback, HSBC, Fed, Investors, Thomson, SHANGHAI Locations: SHANGHAI, U.S
The Thai baht strengthened slightly after hitting 13-month lows this week after the central bank downgraded its annual growth forecasts. But the baht was still on track to shed more than 1% for the second consecutive week, while Thai stocks rose marginally after six straight sessions of losses. Elsewhere in Asia, stocks rose in Indonesia and Manila, tracking U.S. indexes which hit record highs overnight after President Joe Biden embraced a bipartisan Senate infrastructure deal. Taiwan stocks rose over 1% to their highest in more than a month, while the Taiwan dollar also strengthened to register its best session in two weeks. The won was set for a modest weekly gain after weakening nearly 2% last week.
Persons: Soumyajit Saha, Phillip, Joe Biden, South Korea's, Ana Nicolaci da Organizations: Taiwan, ng Pilipinas, ING, U.S . Federal, Phillip Securities, South Locations: Philippine, Thailand, Asia, Indonesia, Manila, Taiwan, Japan, China, India, Malaysia, Philippines, Singapore, Bengaluru, Ana Nicolaci da Costa
S&P 500 on Track for Best Week Since April
  + stars: | 2021-06-25 | by ( Joe Wallace | ) www.wsj.com sentiment -0.64   time to read: +1 min
U.S. stock futures edged higher Friday, putting the S&P 500 on track to close out its best week in more than two months amid renewed confidence in the global economic expansion. Futures for the S&P 500 ticked up less than 0.1% a day after the broad stocks gauge posted a record closing high for the 30th time in 2021. Stocks have bounced back, pushing the S&P 500 up 2.4% through Thursday, after stumbling when the Federal Reserve signaled a more hawkish stance on rising inflation last week. “It is natural that you’ll see very mini wobbles [in stocks] from time to time,” Mr. Redha added. “But the fundamental support—that things are improving and the numbers are getting better—is going to dominate that.”
Persons: , Hani Redha, ” Mr, Redha Organizations: Dow Jones, Nasdaq, Federal Reserve, PineBridge Investments Locations: U.S, Europe
It has risen more than 0.8% so far this week, after last week’s 6% drop. The market is struggling for a conviction or direction in the U.S. dollar,” said Stephen Innes, managing partner at SPI Asset Management. “The gold market continues to consolidate around these levels until the data comes out. Two Fed officials warned on Thursday that inflation could rise more than policymakers’ expectation in the near term. Fed chief Jerome Powell, however, said this week inflation would not be the only determinant of interest rate decisions, calming investors worried about policy tightening after the Fed’s hawkish turn.
Persons: , Stephen Innes, Jerome Powell, Wang Tao, Silver, Brijesh Patel, Aditya Soni Organizations: Federal Reserve, U.S ., Fed Locations: Bengaluru
Dollar dips ahead of U.S. inflation data
  + stars: | 2021-06-25 | by ( Ritvik Carvalho | ) www.reuters.com + 0.00   time to read: +3 min
LONDON (Reuters) - The dollar drifted lower in Europe on Friday as an agreement on U.S. infrastructure spending underpinned appetite for riskier currencies, but caution ahead of key U.S. inflation data kept losses to a minimum. FILE PHOTO: A U.S. five dollar note is seen in this illustration photo June 1, 2017. REUTERS/Thomas White/Illustration/File PhotoThe risk-sensitive Antipodean currencies rose, as did the euro, gaining 0.1% to $1.1943, and the Japanese yen, which rose by about the same margin to 110.77 per dollar. “...The consensus is already expecting quite a large increase in the May PCE inflation data - looking for 3.9% YoY headline and 3.4% YoY core,” said strategists at ING in a note to clients. The Australian dollar rose 0.2% to $0.7595.
Persons: Thomas White, , John Williams, Khoon Goh, ” Goh, it’s, Bitcoin Organizations: REUTERS, Federal Reserve, Reuters, ING, New York Federal Reserve Bank, New Zealand, South Korean, ANZ, Bank of England, of England Locations: Europe, New, Asia, U.S, Mexico
The MOVE index - a bond market volatility gauge - hit a two-month high on Monday, underscoring those mixed signals and uncertainty about the near-term. In the June 17-24 poll, over 60% of fixed-income strategists, or 25 of 41, who answered an additional question said a significant sell-off in global bond markets was likely over the next three months. (Graphic - Reuters Poll: Major sovereign bond yields outlook, )Still, beyond the near-term, yields on major sovereign bonds were expected to have risen relatively modestly in a year, according to the poll of 80 fixed-income strategists. The Fed’s heavy presence in bond markets as a buyer is expected to prevent a runaway rise in yields, which the central bank will not want to happen. When asked how high would U.S. 10-year Treasury yields rise to over the next three months, the median of 30 analysts was 1.75%, with forecasts ranging between 1.5% and 2.0%.
Persons: Lucas Jackson, Jerome Powell, Powell, We’re, , Elwin de Groot, “ We’re, Leslie Falconio, Guneet Dhingra, Morgan Stanley, Organizations: REUTERS, Lucas Jackson Financial, Federal, Rabobank, Fed, UBS Global Wealth Management, U.S, Treasury Locations: BENGALURU, New York City , New York, U.S
Dollar firm as traders brace for U.S. inflation data
  + stars: | 2021-06-25 | by ( ) www.cnbc.com + 0.00   time to read: +3 min
The U.S. dollar held near multi-month highs on Friday as investors warily awaited U.S. inflation data, while the pound nursed modest losses after Bank of England (BoE) policymakers leaned away from flagging rate rises. "The dollar can jump if inflation surprises to the upside," said Joe Capurso, head of international economics at the Commonwealth Bank of Australia in Sydney. The stronger dollar has kept other majors in check through the week, even against currencies where rate rises are likely to land sooner than in the United States. With risk appetite looking resilient, any narrowing in this gap probably depends on how far the (Fed)-inspired U.S. dollar recovery can extend." In emerging markets, the Mexican peso surged to a two-week high following a surprise benchmark interest rate hike.
Persons: warily, BoE, Jerome Powell, Joe Capurso, Sean Callow, Sterling, Tapas Strickland Organizations: U.S, Bank of England, U.S . Federal Reserve, Reuters, Commonwealth Bank of Australia, U.S ., New Zealand, Westpac, National Australia Bank Locations: Asia, Sydney, U.S, United States, Australia
Gold holds steady as traders seek direction from U.S. data
  + stars: | 2021-06-25 | by ( ) www.cnbc.com sentiment -0.99   time to read: +2 min
Gold bars at Solar Capital Gold Zrt. Gold prices held steady on Friday as investors awaited U.S. inflation data due later in the day after mixed signals from Federal Reserve officials this week on interest rate hikes. Investor focus now shifts to U.S. producer price data on Friday for further clues on rising inflation. Some investors view gold as a hedge against higher inflation that could follow stimulus measures. SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.4% to 1,042.87 tons on Thursday.
Organizations: Solar, Federal Reserve, U.S, Bank of England, Trust Locations: Budapest, Hungary
REUTERS/Kim Kyung-HoonSHANGHAI, June 25 (Reuters) - Asian shares rose on Friday, tracking gains on Wall Street overnight that lifted the Nasdaq and the S&P 500 indexes to record highs after U.S. President Joe Biden embraced a bipartisan Senate infrastructure deal. read moreIn morning trade, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) climbed 0.58%. Chinese blue-chips (.CSI300) rose 0.43%, Hong Kong's Hang Seng (.HSI) added 0.61%, Seoul's Kospi (.KS11) was up 0.79% and Australian shares (.AXJO) climbed 0.22%. Overnight, the S&P 500 (.SPX) gained 0.58% and the Nasdaq Composite (.IXIC) added 0.69%, lifting both indexes to record high closes. Benchmark 10-year U.S. Treasuries , which saw yields dip after Biden's announcement of an infrastructure bill were last at 1.497%, up from a close of 1.487% on Thursday.
Persons: Kim Kyung, Hoon, Joe Biden, Kerry Craig, Biden, Craig, Seoul's, Christopher Wood, Andrew Galbraith, Tom Westbrook, Ana Nicolaci da Organizations: Nikkei, REUTERS, Nasdaq, Investors, Morgan Asset Management, U.S, Japan's Nikkei, U.S . Federal Reserve, Jefferies, Dow Jones, drawdowns, U.S . West Texas, Brent, Thomson Locations: Tokyo, Japan, Hoon SHANGHAI, U.S, Asia, Pacific, mull, Singapore, Ana Nicolaci da Costa
Bolsonaro says Brazil didn't spend a cent on Bharat vaccine deal under probe
  + stars: | 2021-06-25 | by ( ) www.reuters.com sentiment -0.99   time to read: +1 min
Brazil's President Jair Bolsonaro reacts before the launching ceremony of the Plano Safra 2020/2021, an action plan for the agricultural sector, in Brasilia, Brazil June 22, 2021. REUTERS/Ueslei MarcelinoBRASILIA, June 24 (Reuters) - President Jair Bolsonaro on Thursday said Brazil never paid for or received any doses of a coronavirus vaccine developed by Indian company Bharat Biotech, in response to allegations of irregularities in a deal that is under investigation. read more"We didn't spend one cent on Covaxin. Bolsonaro said the price for the Bharat vaccines was broadly in line with other countries. On Wednesday, Bharat Biotech said in a statement that it had yet to provide vaccine supplies to Brazil and that it has been consistent and transparent in its pricing with all governments.
Persons: Jair Bolsonaro, Ueslei Marcelino BRASILIA, Bharat Biotech's, Bolsonaro, Covaxin, Jake Spring, Maria Carolina Marcello, Richard Pullin Organizations: Plano Safra, REUTERS, Ueslei, Bharat Biotech, Federal, Bharat, Pfizer, Thomson Locations: Plano, Brasilia, Brazil, Brazilian
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