China Burns Hedge Funds as $562 Million Yuan Bet Turns Worthless
Top Headlines
China Burns Hedge Funds as $562 Million Yuan Bet Turns Worthless – Bloomberg
The battle over the fate of China’s currency is starting to get bloody for the bears.
Pound’s Biggest Gain Since 2009 Signals `Brexit’ Anxiety Easing
Top Headlines
Pound’s Biggest Gain Since 2009 Signals `Brexit’ Anxiety Easing – Bloomberg
Easing anxiety over Britain’s potential exit from the European Union may be complemented next week by signs of a stronger U.K. economy, supporting the pound further after its best week since 2009 against the dollar.
Yen Stalls in Time to Avoid Intervention, Ex-Currency Boss Says
Top Headlines
Yen Stalls in Time to Avoid Intervention, Ex-Currency Boss Says – Bloomberg
The yen’s strongest gain since 2008 has petered out in time to forestall any intervention, according to Takatoshi Kato, a former top currency official at the Ministry of Finance.
U.S. Treasury Secretary Sees Reduced Risk of Currency Devaluations
Top Headlines
Commitments by China and other major economies over the weekend have lowered the threat of currency depreciations that could fuel global market turmoil, U.S. Treasury Secretary Jacob Lew said Tuesday.