top of page
Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.

Forex

The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Stock Market

21 Apr 2022

Dollar Advances but Remains Vary as Finance Ministers Convene

The Index Today

The dollar rose on Thursday spurred by investor anticipation of hawkish monetary tightening by the U.S. Federal Reserve. However, the safe haven currency failed to attain the previous day’s highs as finance ministers of the G7 countries are set to convene.

According to Reuters, the dollar index edged up by 0.16% to 100.50 by 1:15am ET. On Wednesday, the greenback remained unchanged at 0.34% to 128.305 yen, after hitting a two-decade high of 129.430. This comes after the Bank of Japan (BOJ) continued to defend its decision to not hike interest rate hikes, contrary to what the Fed and other central banks across the globe have been doing to counter soaring inflation.

Westpac strategists contended, "Few central banks will match the Fed this year for policy hikes and balance sheet retrenchment, making for a dramatic policy differential in the USD's favour."

The BOJ on Wednesday offered to purchase unlimited 10-year Japanese government bonds for four consecutive sessions, extending its reliance on stimulus with Governor Haruhiko Kuroda contending that a frail yen could spell well for the economy, even as he maintained that currency volatility could negatively affect the country’s commerce, reported Reuters.

©Photo: Reuters

Clay pottery with table linens
bottom of page