Overnight the Fed left policy unchanged but Powell foreshadowed a sustained battle to tame inflation.
The dollar leapt 0.7% against the yen in the wake of the Fed’s decision and Powell’s remarks, its steepest daily jump in more than two months as the prospect of imminent hikes spooked stock markets and drove bond yields higher.The euro was also sold and fell about 0.5% overnight to a five-week low of $1.1235, holding at that level in Asia.
“While communication from Fed members in the lead-up to this meeting meant that the pivot should not have been a surprise, risk appetite shrivelled as Powell’s press conference progressed and the extent of the Fed’s commitment to act in the face of significant inflation pressure became clear,” said ANZ analysts.
Sterling is hovering at $1.3469 as investors await a Bank of England meeting next week and have an eye on the political turmoil enveloping Prime Minister Boris Johnson, who is under pressure after attending parties during lockdowns.
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Scopa will not summon Ramaphosa - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Parliament’s Standing Committee on Public Accounts (Scopa) has decided not to summon President Cyril Ramaphosa to appear before it to provide information on the alleged misuse of public funds for political party activities. MervynDirks Ramaphosa If that's the case then it's clear the state capture phenomenon is as its peak. What happened to the Trias Politica? The legislature is no longer autonomous its controlled by the Executive just like he is controling the Judiciary. under the dictatorship of you know who 🇿🇦 Your headline suggest this is a WIN for Ramaphosa. Report properly that he'll be given between 7-10 days to supply a written statement abt what said on that clip, failing which he'll be summoned to appear b4 Scopa. Eventually he'll appear b4 Scopa to explain himself. Live with it
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Coup d'etats will remain a very unfortunate event on the African continent if governments don't act - Expert - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.United Nations Secretary-General Antonio Guterres once referred to the phenomenon in 2021 as an epidemic of coup d’etats.
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