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☆ 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 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

☆ 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

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

☆ Asia stocks snap losing streak, yields hit fresh peaks
▼ + stars: | 2023-08-22 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Benchmark 10-year yields climbed 2.5 basis points (bps) in early Tokyo trade to touch 4.366%, their highest level since 2007 and are up almost 40 bps for the month so far. European futures were last up 0.6% and FTSE futures rose 0.3%. At the same time, however, inflation expectations have hardly budged - meaning that "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% on Monday. Sovereign yields in Australia, Korea, New Zealand and Japan all rose on Tuesday, with 10-year Japanese yields hitting their highest since 2014 at 0.66%.

Persons: Issei Kato, BOJ's Ueda, Vishnu Varathan, Jerome Powell, Kazuo Ueda, Edwina Gibbs Organizations: REUTERS, SINGAPORE, Japan's Nikkei, Wall, Treasury, Mizuho Bank, Federal, Sovereign, BHP, Bank of Japan, New Zealand, Brent, Benchmark, Dalian, Nvidia, Thomson Locations: Tokyo, Japan, Asia, Pacific, Singapore, Australia, Korea, New Zealand, Hong Kong

☆ Soaring yields leave stocks struggling for headway
▼ + stars: | 2023-08-22 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Benchmark 10-year U.S. Treasury yields rose about 2.5 basis points (bps) in early Tokyo trade to 4.366%, extending an overnight rise to hit their highest since 2007. The 10-year real rate breached 2% in overnight trade. Sovereign yields in Australia, Korea, New Zealand and Japan all rose on Tuesday, with 10-year Japanese yields hitting their highest since 2014 at 0.66%. China disappointed markets with smaller-than-expected interest rate cuts on Monday, though it has been resolute in defending its sliding currency. The euro , which rose slightly overnight, was firm at $1.0906, while the Antipodean currencies , were pinned near nine-month lows and looking vulnerable.

Persons: Issei Kato, Vishnu Varathan, Jerome Powell, reiteration, Varathan, Himani Sarkar Organizations: REUTERS, Rights, Treasury, Japan's Nikkei, Wall, Mizuho Bank, Federal, UST, BHP, Reuters, Brent, Benchmark, Nvidia, Thomson Locations: Tokyo, Japan, Asia, Pacific, China, Singapore, Australia, Korea, New Zealand, CHINA, Hong Kong

The rupee closed at 82.9350 per U.S. dollar, 0.2% stronger than its close of 83.1075 on Monday. "Inflows for initial public offerings and presence of the central bank around 83.10 levels ensured some strength in the rupee after nearly two weeks of fall," said Anil Bhansali, head treasury at Finrex Treasury Advisors. The easing of the dollar index also aided in helping the rupee strengthen past the 83 mark, a trader with a private bank said. "A large foreign bank was mainly on the selling side," the private bank trader added. India's central bank ensured the rupee did not depreciate significantly despite immense dollar-buying pressure from oil companies, Bhansali said.

Persons: Francis Mascarenhas, Anil Bhansali, Vishnu Prakash R, Jerome Powell's, Jackson, Bhansali, Swati Bhat, Janane Organizations: REUTERS, Rights, Treasury, Companies, Aeroflex Industries, Vishnu, U.S, Traders, Jackson, Thomson Locations: Mumbai, India

☆ Dollar retreats from 2-month high, yuan turns higher
▼ + stars: | 2023-08-21 | by ( Samuel Indyk | ) www.reuters.com time to read: +4 min

The dollar index , which measures the currency against six other majors, was last down 0.2% at 103.18, but still close to Friday's two-month high of 103.68. Ten-year yields rose 14 basis points last week and touched a 10-month high of 4.328%, within a whisker of a 15-year high. The offshore yuan had fallen to the weak side of 7.3 per dollar before firming after Reuters reported that state-owned Chinese banks were seen actively mopping up offshore yuan liquidity, a move that raised the cost of shorting the currency. China's currency reversed course in the offshore market and was last up 0.2% to 7.2909 per dollar. Sterling rose slightly to $1.2756 and the Swiss franc was just above a six-week low hit last week at 0.8793 per dollar.

Persons: Dado Ruvic, Jackson, Michael Brown, I'm, Brown, Jerome Powell, Vishnu Varathan, Adam Cole, Sterling, Samuel Indyk, Tom Westbrook, Kirsten Donovan, Mark Potter Organizations: REUTERS, Federal, Trader, Wall, Treasury, Mizuho Bank, New Zealand, Authorities, RBC Capital Markets, Reuters, Swiss, Thomson Locations: Europe, Wyoming, Singapore, China, London

☆ Dollar gains intact as China disappoints, traders eye Jackson Hole
▼ + stars: | 2023-08-21 | by ( ) www.cnbc.com time to read: +3 min

The yuan slid to the weak side of 7.3 per dollar despite a firm fixing of its trading range by the central bank. The Antipodean currencies often function as a liquid proxy for the yuan owing to the region's exports to China. Like the yuan, the yen is also on intervention-watch, having fallen to levels around which authorities stepped in last year. The Swiss franc was just above a six-week low made last week at 0.8817 per dollar. "Two things that may come across are: decades of ultra-low rates backed by ultra-low inflation may be over," said Vishnu Varathan, head of economics and strategy at Mizuho Bank in Singapore.

Persons: Jackson, Sterling, Jerome Powell, Vishnu Varathan Organizations: Federal, Treasury, New Zealand, Australian, Commonwealth Bank of Australia, Swiss, Mizuho Bank Locations: China, London, New York, Wyoming, Singapore

☆ China's central bank steps up intervention after yuan hits 16-year low against greenback
▼ + stars: | 2023-08-18 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

The yuan midpoint is a reference point for trading, and caps the range between +2% and -2%. Stock Chart Icon Stock chart iconFriday's move comes after the onshore yuan fell to a 16-year low against the greenback on Wednesday, trading at 7.2981. The onshore yuan strengthened 0.1% against the greenback at 7.2836 on Friday, and the offshore yuan weakened marginally to 7.3057. The onshore yuan is traded on the mainland and referred to as the CNY, while the offshore yuan — traded in markets like Hong Kong and Singapore — is referred to as the CNH. It vowed to "maintain the basic stability of the RMB exchange rate at a reasonable and balanced level, and resolutely prevent the risk of exchange rate overshoot."

Persons: Vishnu Varathan Organizations: Nurphoto, People's Bank of, U.S, Reuters, Mizuho Bank Locations: Fuyang city, East China's Anhui, People's Bank of China, Hong Kong, Singapore, Asia, Oceania

☆ Dollar stands tall as US economic resilience trumps fiscal uncertainty
▼ + stars: | 2023-08-03 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

U.S. Dollar banknotes are seen in this illustration taken July 17, 2022. Data out on Wednesday showing U.S. private payrolls rose more than expected in July boosted the greenback, as the figures pointed to continued labour market resilience which is likely to keep U.S. rates higher for longer. That sent the dollar index to its highest since July 7 in the previous session. "The U.S. dollar actually strengthened against most other currencies (and) there were risk-aversion trades across all the asset classes." The yen edged marginally higher to 143.31 per dollar, though languished near an over three-week low of 143.545 hit earlier in the week.

Persons: Dado Ruvic, shrugging, Treasuries, Vishnu Varathan, nonfarm, Fitch, Tina Teng, Karen Fishman, Goldman Sachs, Rae Wee, Shri Navaratnam Organizations: REUTERS, Treasury, U.S ., Mizuho Bank, White, New, CMC Markets, U.S, Bank, Bank of Japan, Thomson Locations: SINGAPORE, Asia, U.S, Wall, New Zealand

☆ Dollar stands tall as U.S. economic resilience trumps fiscal uncertainty
▼ + stars: | 2023-08-03 | by ( ) www.cnbc.com time to read: +3 min

Data out on Wednesday showing U.S. private payrolls rose more than expected in July boosted the greenback, as the figures pointed to continued labor market resilience which is likely to keep U.S. rates higher for longer. That sent the dollar index to its highest since July 7 in the previous session. The risk-off sentiment also hurt the risk-sensitive Australian and New Zealand dollars, which had each tumbled more than 1% on Wednesday. "The U.S. dollar actually strengthened against most other currencies (and) there were risk-aversion trades across all the asset classes." The yen edged marginally higher to 143.31 per dollar, though languished near an over three-week low of 143.545 hit earlier in the week.

Persons: shrugging, Treasuries, Vishnu Varathan, nonfarm, Fitch, Tina Teng, Karen Fishman, Goldman Sachs Organizations: Treasury, U.S ., Mizuho Bank, White, New, CMC Markets, U.S, Bank, Bank of Japan Locations: Asia, U.S, Wall, New Zealand

☆ Oppenheimer's famous quote 'I am become Death' isn't really his. The ominous words come from Hindu scripture.
▼ + stars: | 2023-07-20 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +4 min

J. Robert Oppenheimer watched the first atom bomb explode and thought, "Now I am become Death." That's right," Alan Robock, a climatologist and leading expert on nuclear winter, told Insider. The mushroom cloud of the Trinity nuclear test rises over the New Mexico desert. It was the first atom bomb explosion, ever. Similarly, the new film grapples with the question of how much Oppenheimer was (or wasn't) responsible for how the US used the atom bomb, and for the people it killed.

Persons: Robert Oppenheimer, Oppenheimer, Vishnu, —, Alan Robock, Christopher Nolan's, Prince, Kenneth Bainbridge, Rev, Stephen Thompson, Gita, Leslie Groves, J, Arjuna, Lord Krishna, Krishna, Thompson Organizations: NBC, Service, Manhattan, Trinity, National Security Research, Trinity Test, Wired Locations: Wall, Silicon, New Mexico, Hiroshima, Nagasaki

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