France is using its G7 presidency to spotlight mounting global economic imbalances, as China’s surging exports, chronic U.S. deficits and Europe’s weak investment risk exacerbating trade tensions and exposing the world economy to financial shocks.
Tag: Currencies
The dollar was perched near a two-month high on Monday after a blowout U.S. jobs report sent traders ramping up bets on a Federal Reserve rate hike this year, while the yen teetered further into the intervention zone.
As Japan’s yen drifts back to levels that prompted official intervention a month ago, markets are sizing up Tokyo’s remaining financial firepower and political will to defend its ailing currency.
The dollar held around its lowest levels in a week in Asian trading on Monday as hopes of a deal to reopen the Strait of Hormuz pushed oil prices below $100 per barrel, even as the U.S. played down the chances of reaching an agreement with Iran soon.
Britain’s government proposed the creation of a single market for goods with the European Union in what would be an ambitious reset of its post-Brexit ties with the bloc, but Brussels has rejected the idea, British media reported.