Japan may struggle to match threats of FX intervention with action
TOKYO Japan has stepped up threats to intervene to weaken the yen after Britain's vote for "Brexit" drove the currency to multi-year highs, but the risks of a costly failure may dissuade policymakers from matching words with action.The Bank of Japan (BOJ) is also wary of rushing into expanding its monetary stimulus, preferring to wait to see if the market turmoil triggered by Britain's vote to leave the European Union lasts long enough to threaten Japan's economic recovery, according to source..>> view originalThe Day After: Dow Tumbles 224 Points as Brexit Aftershocks Shake Market
By Ben LevisohnDoes anyone remember that mini-series from 1983 called The Day After, which looked at the impact of a nuclear war with Russia? My parents wouldn’t let me watch it (I would have been ten at the time), but I still remember the stir it caused. With the way some people are talking about Brexit and its impact on stocks, you would think it was a calamity on that scale–at least one referred to it as being as important as the collapse of the Berlin Wall–and the market, today, at least se..>> view originalStocks, pound fall again due to UK vote uncertainty
By ALEX VEIGA, AP Business Writer U.S. stocks fell sharply in early trading Monday following another slide in European markets as investors grappled with the fallout of Britain's vote to leave the European Union. The British pound, which last week plunged to its lowest level since 1985, continued to fall as traders expected the British economy would take a hit. The Dow Jones industrial average lost 234 points, or 1.4 percent, to 17,165 as of 10:05 a.m. Eastern Time. The Standard & Poor's..>> view originalBrexit: UK government shifts to damage control
British Prime Minister David Cameron said: "The British government will not be triggering Article 50 at this stage." He said that Britain would have to establish its new relationship with the European Union before doing so and that it would be up to the next prime minister and cabinet to decide. "Tomorrow is an opportunity -- we are leaving the EU but cannot turn our backs on Europe or the world," Cameron said.Not since World War II has Britain faced such an uncertain future.A vote last week to ..>> view originalDiet Pepsi With Aspartame Is Making a Comeback
Diet Pepsi hasn’t kicked its aspartame habit just yet. PepsiCo pep on Monday confirmed that it would make some key changes to the company’s diet soda portfolio in the U.S. this fall, including the return of a Diet Pepsi with aspartame after a big, splashy change to the beverage’s formula last year. Beginning in September, Pepsi says that the core Diet Pepsi brand will remain sweetened with sucralose and Ace-K, reflecting the formula change Pepsi made last year. But Diet Pepsi Classic Swe..>> view originalDespite Leaders' Assurances, 'Brexit' Leaves Markets Nervous
But investors remain skeptical. One worry is that further rounds of central bank activism could compound the problems in the markets. Some economists have expressed concern that artificially low interest rates, spurred by central bank moves, have helped distort markets and create asset bubbles — and done little to encourage wage increases or to lift growth.“This is a historic moment, of the same magnitude as the fall of the Berlin Wall, and the full impact won’t be seen for years,” said Phil..>> view originalSC gas prices dip below $2/gal ahead of Fourth of July
Just in time for the Fourth of July holiday, motorists across South Carolina will once again enjoy gasoline prices below $2 a gallon. Online For the latest local gas prices, go to postandcourier.com/gasprices. The average price now stands at $1.99 a gallon on average, the lowest in the nation, after falling 2.8 cents during the past week throughout the Palmetto State, according to gas price service GasBuddy. Motor club AAA puts the price a penny higher. The price of gasol..>> view originalBrexit hits US auto industry, US car sales rate slows, and more
The Detroit Three automakers all took a hit after the U.K. voted to leave the European Union. (Spencer Platt/Getty Images). BY Kyle Campbell. NEW YORK DAILY NEWS. Monday, June 27, 2016, 10:02 AM. Looking for a roundup of the latest and most ...>> view originalLew Says Orderly Markets Mean FX Intervention Unwarranted
U.S. Treasury Secretary Jacob J. Lew said financial markets are functioning in a orderly way after Britain’s vote to leave the European Union and signaled attempts by individual countries at currency intervention aren’t warranted."There is a kind of orderliness in the markets," Lew said Monday in an interview on CNBC, adding that there’s no sense that the world is sliding into another crisis. “There was a surprise and reaction, but the systems are all working.”The victory for Brexit June 23 tor..>> view originalBrexit Hijacks Draghi Retreat as ECB Faces Crisis Yet Again
Sintra was never meant to be like this.The European Central Bank’s annual forum in the lush Portuguese retreat outside Lisbon, which starts Monday evening, was intended as a laid-back event where central bankers and academic economists can thrash out the theories of monetary policy. Instead, reality has intruded once again, this time in the form of the U.K.’s shock decision to leave the European Union.The pain of the British vote, from the market ructions already under way to a possible economi..>> view original
Monday, June 27, 2016
Japan may struggle to match threats of FX intervention with action and other top stories.
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