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Companies Standard Chartered PLC FollowJuly 31 (Reuters) - China's Ant Group and Standard Chartered (STAN.L) said on Monday they will work together in green finance and global fund management, broadening their existing partnership. The deal is the first high-profile tie-up between Ant and a major foreign bank since authorities cancelled a planned mega-IPO by the fintech giant in 2020. StanChart will help Ant build "an industry-leading global liquidity and foreign exchange management structure", they said in a joint statement. They also plan to enhance collaboration in environmental, social and governance, digital innovation and inclusive finance, the statement said. Ant also hired StanChart as one of the lead arrangers and book runners for the $6.5 billion sustainability-linked syndicated loan it took out last year.

Persons: StanChart, Ant, Roxanne Liu, Selena Li, Edwina Gibbs Organizations: Chartered, Standard Chartered, Thomson Locations: China

☆ The Fed may be about to crash the plane, but the focus should be on profits
▼ + stars: | 2023-07-30 | by ( Jim Cramer | ) www.cnbc.com time to read: +5 min

No matter what the Fed seems to do, it's become a game of whack-a-mole — whether it be wages, home prices, creeping commodities, or Fed subsidies that are about to roar in. The idea that the Fed is driving the price of a house to further unaffordability has taken hold. The yield curve can't be wrong, so it remains a matter of time before Fed Chair Jerome Powell crashes the plane — and let's not forget that lurking, lurking election. And the multiple on those profits is going up not because of hideous expansion, but because of a triumph over the pandemic. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: it's, Jerome Powell, let's, Jim Cramer's, Jim Cramer, Jim, Al Drago Organizations: Federal Reserve, Procter, Gamble, Treasury, Jim Cramer's Charitable, CNBC, US Federal Reserve, Market, Bloomberg, Getty Locations: Weimar Republic, Washington , DC

☆ Nigeria's Tinubu appoints investigator to probe central bank
▼ + stars: | 2023-07-30 | by ( ) www.reuters.com time to read: +1 min

[1/2] Nigeria's Central Bank Governor Godwin Emefiele briefs the media during the MPC meeting in Abuja, Nigeria January 24, 2020. REUTERS/Afolabi SotundeCompanies Tinubu Square Sa FollowABUJA, July 30 (Reuters) - Nigeria's President Bola Tinubu has appointed a financial watchdog to investigate the central bank, weeks after he suspended its governor, a copy of a letter from the president showed on Sunday. Tinubu on June 9 suspended Godwin Emefiele, who was then detained by state security agents for allegedly misappropriating funds and a "criminal breach of trust." In a letter dated July 28, Tinubu appointed the chief executive of Nigeria's Financial Reporting Council as special investigator of the Central Bank of Nigeria (CBN) and other government-owned entities. The investigator was to "provide a comprehensive report on public wealth currently in the hands of corrupt individuals and establishments."

Persons: Nigeria's Central Bank Governor Godwin Emefiele, Bola Tinubu, Tinubu, Godwin Emefiele, Dele Alake, Felix Onuah, MacDonald Dzirutwe, Christina Fincher Organizations: Nigeria's Central Bank Governor, MPC, REUTERS, Nigeria's, Central Bank of Nigeria, Thomson Locations: Abuja, Nigeria, ABUJA

☆ The Fed's newfound focus on data is bad news for the sliding dollar
▼ + stars: | 2023-07-29 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Its losing streak could carry on with the Fed taking a "data-dependent approach" to interest rates. Chair Jerome Powell said the central bank would start taking a "data-dependent approach" to rate hikes, with inflation cooling rapidly and the jobs market holding firm. When interest rates stop rising, the dollar becomes less attractive to foreign investors seeking higher yields, meaning the currency is likely to weaken against its rivals. The key number for currency traders to watch going forward will now be the monthly inflationary print, analysts said. If that cooling carries on, the dollar will likely keep sliding – but any flare-up could encourage the Fed to bring in further rate hikes, which could offer some support to the currency.

Persons: that's, Jerome Powell, John Hardy Organizations: Fed, Service, greenback, Federal Locations: Wall, Silicon

☆ India lets firms list on Modi's flagship finance hub to draw foreign capital
▼ + stars: | 2023-07-29 | by ( ) www.reuters.com time to read: +1 min

Listed and unlisted companies can list their shares in the International Financial Services Centre (IFSC) housed in the Gujarat International Financial Tech City (GIFT), which is Prime Minister Narendra Modi's flagship project. "I'm pleased to announce that the government has taken a decision to enable direct listing of listed and unlisted companies on the IFSC exchanges," Sitharaman said. Indian companies can currently only list on foreign exchanges through instruments such as depository receipts. The government had announced plans in 2020 to allow firms to have their primary listings on foreign exchanges. The government has said companies can use the IFSC route to access similar benefits of foreign capital.

Persons: Nirmala Sitharaman, Narendra Modi's, I'm, Sitharaman, Manch, Aftab Ahmed, Muralikumar Organizations: International Financial Services, Gujarat International Financial Tech City, Singapore, International Exchange, Thomson Locations: DELHI, India, Gujarat, Singapore, City, New Delhi

WASHINGTON/LONDON, July 28 (Reuters) - The International Monetary Fund said on Friday that it has reached a staff-level agreement with Argentina to unlock about $7.5 billion and complete the fifth and sixth reviews of the struggling country's $44 billion loan program. Reuters first reported that the agreement would combine the fifth and sixth reviews of Argentina's IMF program -- a move that provides additional loan funds sooner. The IMF said its board would meet to consider the agreement in the second half of August. The Fund said that the program will need waivers because these measures are "against the introduction of multiple currency practices." Argentina is set to have another three reviews on its 2022 IMF programme by September 2024, though the IMF statement didn't specify what would happen with those.

Persons: Sergio Massa, David Lawder, Hugh Lawson, Alistair Bell Organizations: WASHINGTON, Monetary Fund, Reuters, IMF, Argentine, Thomson Locations: LONDON, Argentina, Buenos Aires, Beijing, Washington, Rosario, London

☆ With quarterly beat, Procter & Gamble flexes its ability to win in any economy
▼ + stars: | 2023-07-28 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Procter & Gamble (PG) showed once again its ability to raise prices on its many household staples without damaging sales volume — one of the key reasons to own this stock in an uncertain economic environment. The company also delivered organic growth in all product categories and across all geographies in which it operates. Foreign exchange was a 3 percentage point headwind not reflected in organic growth. At the company level, the team has now notched seven straight quarters of 5% or better organic sales growth. Notably, all 10 major product categories posted organic sales growth in the quarter, with five growing double digits.

Persons: Gillette —, it's, Jim Cramer's, Jim Cramer, Jim, Proctor, Tiffany Hagler Organizations: Procter, Gamble, Tide, Management, Enterprise, CNBC, Gamble Co, Geard, Bloomberg, Getty Locations: buybacks, U.S, China, Europe, America, Hastings, Hudson , New York

☆ Argentina reach staff deal on loan reviews to unlock $7.5 billion
▼ + stars: | 2023-07-28 | by ( ) edition.cnn.com time to read: +3 min

The International Monetary Fund said on Friday that it has reached a staff-level agreement with Argentina to unlock about $7.5 billion and complete the fifth and sixth reviews of the struggling country’s $44 billion loan program. Reuters first reported that the agreement would combine the fifth and sixth reviews of Argentina’s IMF program — a move that provides additional loan funds sooner. The IMF said its board would meet to consider the agreement in the second half of August. The agreement calls for Argentina to tamp down import demand with new foreign exchange taxes for imported goods and to strengthen expenditure controls. Argentina is set to have another three reviews on its 2022 IMF program by September 2024, though the IMF statement didn’t specify what would happen with those.

Persons: Sergio Massa Organizations: Monetary Fund, Reuters, IMF, Argentine Locations: Argentina, Buenos Aires, Beijing

But it was the repeated use of the word holistic - or "bütüncül" - by the former Goldman Sachs banker and Turkey's first female central bank chief that caught most of the attention. "We are making the gradual and steady rate hikes more holistic and stronger through quantitative tightening and selective credit tightening," Erkan told the news conference. "Unless the credit and monetary tightening really kick in, investors would expect the central bank to hike more aggressively," he said. "She clearly wants to be the face of Turkish monetary policy making," said Neuberger Berman's Nazli. "We saw a person who seems to be capable of being a central bank governor, compared to previous governors, but cautious."

Persons: Goldman Sachs, Hafize Gaye Erkan, Erkan, Tayyip Erdogan, Turkey's, Kaan Nazli, Neuberger Berman, policymaker Mehmet Simsek, Tim Ash, Erdogan, Ash, Marek Drimal, Neuberger Berman's Nazli, swerved, Emre Akcakmak, Karin Strohecker, Libby George, Tomasz Janowski Organizations: Turkey's, Ministry, BlueBay Asset Management, Societe Generale, East Capital, Thomson Locations: Rosario, London

REUTERS/Dado Ruvic/IllustrationORLANDO, Florida, July 26 (Reuters) - Remember the U.S. twin deficits? The dollar did fall - around 40% between the dotcom bust and the global financial crisis - and the twin deficits were a factor. Indeed, when the twin deficits really exploded in 2008 as the government and Fed fought to prevent another Great Depression, the dollar actually rose 25%. "Twin deficits are inherently unsustainable – for Treasuries and the dollar - unless there is a shift towards a deflationary environment that stimulates demand for sovereign debt instruments," Costa said. Persistently wide twin deficits will test the appetite to use the dollar as the savings currency of choice for investors and countries around the world.

Persons: Dado Ruvic, Mark Carney, Tavi, Costa, Meera Chandan, Octavia Popescu, Bill, Jamie McGeever, Tomasz Janowski Organizations: REUTERS, Fed, Reuters, Bank of England, Crescat, Treasuries, United, Office, Thomson Locations: ORLANDO , Florida, U.S, Britain, United States, Americas, Washington

Deutsche Bank's emerging market carry strategy index had its best year on record in the 12 months to May. Reuters GraphicsOVERCROWDING FEARSInvestors, however, are becoming concerned the carry trade might be becoming too popular for its own good. "You have to be worried about some of these more crowded positions," said Stephen Gallo, European head of FX strategy at BMO Capital Markets. "I think that is big enough to offset any carry trade income," said Yujiro Goto, head of FX strategy for Japan at Nomura. A hypothetical $50,000 invested in a short Norwegian crown, long dollar carry trade in the first three weeks of July would have lost $3,000, according to Refinitiv.

Persons: Refinitiv, Kamakshya Trivedi, Goldman Sachs, Stephen Gallo, Gallo, James Athey, Yujiro Goto, Oliver Brennan, Brennan, Robin Winkler, Goldman's Trivedi, Geoff Yu, BNY Mellon, Harry Robertson, Alun John, Ankur, Rae Wee, Bernadette Baum Organizations: LONDON, Bank of America, FX, Deutsche, Federal Reserve, European Central Bank and Bank of Japan, BMO Capital Markets, Nomura, BNP Paribas, Bank of England, Bank of Japan, Reuters Graphics, Federal, Deutsche Bank, Swiss, Reuters, Korean, BNY, Thomson Locations: SINGAPORE, Japan, European, U.S, America, Asia, London, Singapore

☆ South Korea launches interagency investigation team to tackle rising crypto crimes
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +2 min

SEOUL, July 26 (Reuters) - South Korea launched an interagency investigation unit to tackle crypto-currency crimes on Wednesday amid a surge in illegal activities in the market and a lack of legal protections for investors. The Joint Investigation Centre for Crypto Crimes will be manned by some 30 personnel from judicial, financial, tax and customs agencies, the Prosecutors' Office said in a statement. The Prosecutors' Office said that until the crypto-currency market was regulated under law, the investigation team would fill the gap in investor protection. South Korea's crypto-currency market, which had been one of the fastest growing in the world, shrank 66% last year by market capitalisation, on a series of global and domestic events dampening investor sentiment, on top of high interest rates. Across local crypto-currency exchanges, suspected crime-related transactions jumped 1,263%, to 900 in 2022 from 66 in 2021, according to the statement.

Persons: Luna, Kown, 1,278.5000, Jihoon Lee, Michael Perry Organizations: Joint Investigation, Crypto, Prosecutors, Office, Thomson Locations: SEOUL, South Korea, Montenegro, United States

This brings the total impairments related to Russia to almost 700 million euros, Danone said. The adjustment on the balance sheet of 500 million euros to reflect the negative currency transaction difference will also be recognized by Dec. 31, it added. Danone also reported a better-than-expected rise in quarterly like-for-like sales, as it increased prices again to make up for rising costs. Like-for-like sales rose 6.4% in the second quarter, beating expectations for 5.6% growth in a company-compiled consensus of 18 analysts. ($1 = 0.9047 euros)Reporting by Richa Naidu; Editing by Edmund Klamann, Muralikumar Anantharaman and Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.

Persons: Danone, Richa Naidu, Edmund Klamann, Muralikumar Anantharaman, Conor Humphries Organizations: France's Danone, Danone, Evian, Nestle, Thomson Locations: Russia, Russian, Ukraine

THE REVIEWUnder the terms of the $44 billion program agreed in 2022, the funds are released in tranches based on regular reviews of steps Argentina takes to shore up its economy. The IMF did not respond to a request for comment on the likelihood of a board meeting soon to discuss the Argentina program. Argentina made the last IMF payment due end-June partially with its holdings of IMF special-drawing rights (SDRs), but analysts calculated that this has wiped out the country's $1.65 billion in IMF reserve assets. Argentina used $1.1 billion in yuan from a recently extended and expanded swap line with China to complete the June payment to the IMF. Reuters GraphicsFALLING INTO ARREARSMissing payments would automatically put Argentina in default with the IMF because there is no grace period with the multilateral lender.

Persons: Goldman Sachs, Sergio Massa, Gordian Kemen, Kemen, Gross, Jorgelina, Rosario, Rodrigo Campos, Karin Strohecker, Tomasz Janowski Organizations: International Monetary Fund, IMF, Standard Chartered Bank, Reuters, Thomson Locations: Argentina, Buenos Aires, Beijing, China

☆ Pan Gongsheng: China's new central bank governor faces daunting tasks
▼ + stars: | 2023-07-26 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —China has a new central bank governor. He replaced Yi Gang, who took office in March 2018, when China’s longest-serving central banker Zhou Xiaochuan stepped down after a 15-year tenure. He was previously a deputy governor of the PBOC and has served as head of China’s foreign exchange regulator since 2016, managing currency reserves worth $3.18 trillion. In China’s political system, the Communist Party boss is usually the top official in the relevant organization, be it a level of government or a public institution. In March, Beijing created a powerful financial watchdog run by the Communist Party, named the Central Financial Commission, as part of a broad reform of governing bodies to strengthen the party’s oversight of economic affairs.

Persons: Pan Gongsheng, Yi Gang, Zhou Xiaochuan, Xi Jinping, Xi, ”, Ken Cheung, Zhou Organizations: Hong Kong CNN, People’s Bank of China, Communist Party, Renmin University of China, Cambridge University, Harvard University, Xinhua, Mizuho Bank, Central Financial Commission, Financial Regulatory Locations: Hong Kong, China, Beijing

Microsoft is weaving AI into its own products, such as the $30-a-month "Copilot" assistant for its Microsoft 365 service that can summarize a day's worth of emails into a quick update. Microsoft's results show heavy spending on AI services ahead of commensurate revenue growth. For the segment that includes Azure, Microsoft forecast a first-quarter revenue range with a midpoint of $23.45 billion. Microsoft's forecast for its Windows segment had a midpoint of $12.7 billion, below analysts' estimate of $13.14 billion. Microsoft has started integrating AI functionality across its products such as Azure, Microsoft 365, GitHub and several developer tools.

Persons: Amy Hood, Hood, Satya Nadella, Yuvraj Malik, Devika Syamnath, Richard Chang Organizations: Microsoft, Wall, Nvidia Corp, Revenue, Alpha, Thomson Locations: Bengaluru

☆ China state banks seen selling US dollars to prop up yuan -sources
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +2 min

China's state banks usually trade on behalf of the central bank in the country's foreign exchange market, but they could also trade on their own behalf. Policymakers also said China will keep the yuan exchange rate basically stable at reasonable and balanced levels, and vowed to invigorate the capital market and restore investor confidence. This is in line with the People's Bank of China's (PBOC) further tightening of FX policy recently." The onshore yuan strengthened more than 0.6% to a high of 7.1411 per dollar and was fetching 7.1541 as of 0314 GMT. Its offshore counterpart followed the strengthening trend and surged to a week high of 7.1475 before being last traded at 7.1542.

Persons: Christopher Cushing Organizations: HSBC, People's Bank of China's, greenback, Thomson Locations: SHANGHAI, BEIJING, China, Shanghai, Beijing

☆ Here are Tuesday's biggest analyst calls: Apple, Disney, Costco, Nike, Imax, Walmart, Meta & more
▼ + stars: | 2023-07-25 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are Tuesday's biggest calls on Wall Street: UBS reiterates Nike as buy UBS said it's getting incrementally bullish on the stock and that it could double. " BTIG upgrades Zscaler to buy from neutral BTIG said its checks on the IT stock have been "consistently positive." Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by its overweight rating heading into Apple earnings next week. Goldman Sachs reiterates Apple as buy Goldman said it's standing by its buy rating heading into earnings next week. Morgan Stanley names Elevance a top pick Morgan Stanley named the health insurance provider as a top pick and said it sees further earnings per share growth.

Persons: it's, Morgan Stanley, Apple, Piper Sandler, Wells, Goldman Sachs, Goldman, Mizuho, Oppenheimer, TSCO, Citi downgrades Goldman Sachs, TD Cowen, Wolfe, Baird, HWM, Elevance, Comm, Flywire Organizations: UBS, Nike, Apple, Walmart, Piper, Signet, Superior Unit, Costco, Citi, adv, 2Q, Meta, Digital Ad, Bank of America downgrades, Supply, Bank of America, HSBC, Zynga, Disney, Mizuho, Howmet Aerospace, Airbus Locations: Wells Fargo, 2Q23

☆ S&P lowers Bangladesh's rating outlook to negative on liquidity risks
▼ + stars: | 2023-07-25 | by ( Ruma Paul | ) www.reuters.com time to read: +2 min

DHAKA, July 25 (Reuters) - S&P Global Ratings on Tuesday lowered Bangladesh's long-term rating outlook to negative from stable, citing risks the country's external liquidity position could deteriorate in the next year while foreign exchange reserves remain under pressure. "Lower generation of current account receipts than we expect, a higher overall current account deficit than we forecast, or a failure to materially boost foreign exchange reserves would indicate downward pressure on the rating," S&P said. "This would cause either more uncertainty and more costs to weigh the growing risks of uncertainty in repayment," he said. Moazzem said measures were needed particularly in subsidy management and energy imports, which are the main weaknesses in the foreign exchange reserve situation. "The government needs to take bold actions in these regards including substituting importing energy by exploring gas and substituting energy import for power, agriculture by solar based and other renewable energy measures," he added.

Persons: Khondaker Golam, Moazzem, Ruma Paul, Juby Babu, Jacqueline Wong, Lincoln, Jamie Freed Organizations: International Monetary Fund, Thomson Locations: DHAKA, Ukraine, Bangladesh, Dhaka, Bengaluru

The income Luis earns from his Airbnb rental is paid in dollars into a digital account on US payment platform Payoneer, he said. Argentine hosts on Airbnb can receive payments to a local or overseas bank account as well as Payoneer and Paypal, options on one host's account reviewed by Reuters showed and Airbnb confirmed. Airbnb told Reuters in a statement that guidance published on its website advised hosts to register their short-term rental properties with Argentine authorities. Argentine tax authority AFIP said that it "always encourages people to declare" income. The Buenos Aires tourism department told Reuters, however, that just 570 properties were listed on the city's register of short-term rentals in June.

Persons: Luis, Airbnb, Payoneer, AFIP, Ramiro Raposo, AIRBNB, Ariel Yeger, Gaston Levy, Gustavo, Ana Maria Ianni, Ianni, Anna, Catherine Brigida, Adam Jourdan, Suzanne Goldenberg Organizations: Reuters, Argentine, Paypal, Internal Revenue Service, PayPal, AirDNA, Airbnb, Peronist, Thomson Locations: BUENOS AIRES, Airbnb, Buenos Aires, Argentina, Argentine, United States, Senate's

☆ China’s New Central Banker Once Fixed a Crisis. He May Need to Again.
▼ + stars: | 2023-07-25 | by ( Keith Bradsher | More About Keith Bradsher | ) www.nytimes.com time to read: +1 min

For nearly eight years Pan Gongsheng has overseen one of the world’s biggest pots of money: China’s $3 trillion in foreign currency reserves. Now he will run the country’s central bank, playing an even more powerful role in the Chinese economy. Mr. Pan, a prominent economist, was named on Tuesday as governor of the central bank, the People’s Bank of China. The appointment of Mr. Pan comes at a delicate time for China. Foreign currency reserves are effectively a country’s emergency fund to be used at times of financial stress.

Persons: Pan Gongsheng, Pan, Mr Organizations: People’s Bank of China, bank’s Communist Party, Administration of Foreign Exchange Locations: China, bank’s

LONDON/JOHANNESBURG, July 25 (Reuters) - Gabon launched what is set to be Africa's first debt-for-nature swap on Tuesday, with a plan to buy up at least $450 million of its government debt and switch it to an eco-friendly blue bond. The February 2031 maturity rose 2.203 cents to 83.702 cents and November 2031 maturity jumped 2.129 cents to 83.573 cents, compared to Gabonese government's offer to buy back the bonds for 85 cents per $1 of the bond. ,The 2025 maturity rose 1.194 cents to 95.4 cents, also still below the offer price of 96.75 cents.. Ecuador pulled off a record $1.1 billion debt-for-nature swap in May, freeing up $18 million annually for the next 20 years for conservation of the Galapagos Islands. The African Development Bank and European Investment Bank are interested in providing credit guarantees.

Persons: Marc Jones, Rachel Savage, Gerauds Wilfried Obangome, Karin Strohecker, Ed Osmond, Tomasz Janowski Organizations: London Stock Exchange, Republic, Industry, U.S . International Development Finance Corporation, African Development Bank, European Investment Bank, Bank of America, Thomson Locations: JOHANNESBURG, Gabon, Gabonese, Ecuador, Belize, Galapagos, Sri Lanka, Indian, Libreville

☆ China has announced a slew of measures to bolster its economy. Here's what we know so far
▼ + stars: | 2023-07-24 | by ( Clement Tan | ) www.cnbc.com time to read: +5 min

Here are some of the key measures released by the Chinese government in recent weeks. Private businessesOn Monday, China's economic planning agency announced a series of measures to promote private investment. Julian Evans-Pritchard Capital EconomicsThe NDRC said it will support private investment in sectors — such as transportation, water conservancy, clean energy, new infrastructure, advanced manufacturing and modern agriculture facilities. The agency is also encouraging private investment projects to issue real estate investment trusts (REITS) in the infrastructure sector to promote asset diversification and further broaden investment and financing channels for private investment. Business sentiment has generally soured amid lackluster economic growth after China's initial recovery following its exit from "zero Covid" faltered.

Persons: Julian Evans, Pritchard Organizations: Afp, Getty, China, Private, Communist Party, National Development, Reform, Pritchard Capital, People's Bank of China, State Administration of Foreign Exchange, China Economics, Capital Economics, Household, Commerce Locations: China, Beijing, Shanghai

☆ Analysts are getting even more bullish on Apple into its earnings report
▼ + stars: | 2023-07-24 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Two analysts raised their expectations for Apple shares, a week ahead of the technology giant's next earnings report. Deutsche Bank analyst Sidney Ho reiterated his buy rating on the Big Tech stock while raising his price target by $30 to $210. Wells Fargo analyst Aaron Rakers also upped his price target on Sunday, bringing his expected price per share to $225 from $210. The new price target from Rakers, who has an overweight rating on the stock, shows that he thinks shares could jump 17.2% over the next year. He said to expect an in-line revenue report and slight beat to expectations for earnings per share.

Persons: Sidney Ho, AAPL, Ho, Apple, Wall, Wells, Aaron Rakers, Rakers, Michael Bloom Organizations: Apple, Deutsche Bank, Big Tech

ORLANDO, Florida, July 23 (Reuters) - Hedge funds have ramped up their bearish dollar bets by more than $7 billion in a week, and are now sitting on their biggest net short dollar position in over two years. Foreign exchange speculators' long sterling position are now the biggest on record, although decent interest in shorting the pound means the overall net long position remains at a 16-year high, not an all-time peak. It is the most substantial bet on the dollar falling since March 2021, and marks the 37th week in a row funds have been net short. The value of funds' short dollar position is big, but not extreme. Earlier this month, their net short position was the largest in five and a half years.

Persons: Jamie McGeever, Shri Navaratnam Organizations: Federal Reserve, European Central Bank and Bank of Japan, Futures, ECB, Thomson, Reuters Locations: ORLANDO, Florida, Foreign, That's

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