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☆ Column: G7 'recognizing' FX disruption is damp squib :Mike Dolan
  + stars: | 2022-10-14 | by ( Mike Dolan | Thomson Reuters | Mike Dolan Is Reuters Editor-At-Large For Finance | ) www.reuters.com   time to read: +7 min
Their joint communique released by the U.S. Treasury late on Wednesday did give Japan something - but it was thin gruel. read more"Recognizing that many currencies have moved significantly this year with increased volatility, we reaffirm our exchange rate commitments as elaborated in May 2017," the G7 wrote. And, for the record, the 2017 phraseology was that excess volatility and disorderly currency moves have negative impacts on their economies and financial stability. read more"We cannot tolerate excessive volatility in the currency market driven by speculative moves," he opined after. The big question is whether this dollar surge is in fact a "short run" aberration or whether it is a more permanent feature of the global landscape.
☆ UK's Truss sacrifices finance minister, scraps tax plan in fight to survive
  + stars: | 2022-10-14 | by ( Elizabeth Piper Kate Holton Alistair Smout | Elizabeth Piper | Kate Holton | ) www.reuters.com   time to read: +7 min
To replace him, she appointed Jeremy Hunt, a former foreign and health secretary who had backed her rival Rishi Sunak in this summer's race to become Conservative Party leader. He is the fourth finance minister in as many months in Britain, where millions are facing a cost of living crisis. Kwarteng becomes Britain's shortest serving finance minister except for a predecessor who died suddenly in office in 1970. Christopher Chope, a veteran Conservative lawmaker and Truss supporter, said the party was now a laughing stock. "The markets have lost trust in the Conservative Party - and who can blame them?"
☆ Djokovic dazzles on return to action at Laver Cup
  + stars: | 2022-09-24 | by ( Martyn Herman | ) www.reuters.com   time to read: +4 min
With Roger Federer watching on from courtside at a sold out O2 Arena, the day after his emotional farewell match alongside Rafa Nadal, Djokovic returned to action in spellbinding fashion. U.S. Open semi-finalist Tiafoe was helpless to stop the Djokovic onslaught as the Serb won 6-1 6-3 to put Bjorn Borg's Team Europe into a 6-4 lead overall. Register now for FREE unlimited access to Reuters.com RegisterFormer world number one Djokovic was due back on court later to partner Italian Matteo Berrettini in a doubles against Team World pairing Jack Sock and Alex De Minaur. At one point Federer suggested world number eight should serve and volley, which Norrie promptly did but lost the point as Fritz sent a lob over his head. "If Roger Federer is telling you to do something, there is no chance I'm not going to do it, especially out there playing for Team Europe," Norrie said later.
☆ Analysis: No relief for bruised markets as Fed signals higher rates for longer
  + stars: | 2022-09-22 | by ( Davide Barbuscia David Randall | Davide Barbuscia | David Randall | ) www.reuters.com   time to read: +5 min
That left the yield curve even more inverted, a signal of looming recession. Those declines have come as the Fed has already tightened rates by 300 basis points this year. "We might not see as strong returns in the equity markets going forward now that interest rates have been somewhat normalized." The shape of the Treasury yield curve, where short-term rates stand above longer-term ones, supports caution as well. Known as an inverted yield curve, the phenomenon has preceded past recessions.
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