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Business
Sterling gains 1.6% against the euro year-to-date despite new UK government
The British pound has outperformed most other G10 currencies this year, though recent political instability and rising borrowing costs threaten to reverse that momentum.
Business
Banco Central sells $50,000 swap contracts as Lula-Flávio vote dispute intensifies in Brazil polls
New polling data highlights a tight second-round race between Luiz Inácio Lula da Silva and Flávio Bolsonaro, causing the dollar to drop against the real. The Central Bank executed a 50,000 contract swap sale on Tuesday.
Central Banks
China's foreign reserves reach $3.438 trillion as official gold purchases resume largest pace in three years
China's international currency reserves rose $19.5 billion in August, reaching $3.438 trillion, driven by a drop in the dollar and strong trade surpluses. Official gold stockpile additions totaled 650,000 ounces, marking the highest monthly gain since October 2023.
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Central Banks
ECB expected to raise rates to 2.50% as oil hits $100/barrel amid Iran conflict
Technology
BIS predicts top five tech firms will invest over $1 trillion in AI by 2026
Central Banks
Japanese 10-year yields jump to 2.93% as BOJ official signals potential rapid rate hikes amid oil surge
Central Banks