News Snapshot:
“Yes inflation in the US is stubborn, yes the rates market is signalling higher-for-longer US rates but that doesn’t take away the fact that other economies in the world are catching up with the US.” A stronger-than-expected reading in a key US inflation gauge Friday, showed just how painful the US dollar’s strength can be. The greenback climbed near year-to-date highs, while riskier assets such as emerging market currencies and stocks slumped across the board. The Australian dollar and the Japanese yen fell more than 1 per cent. The relief that a weaker US dollar would bring to the world...
