Page 20 - Frx News Today

Britain's interest rate horizon skyrocketed this week on another alarming inflation reading that some fear entrenches the economy as outlier among Western peers - and yet the pound didn't know whether to laugh or cry.

A top-level meeting in Paris next month will lay out a $100 billion plan to drive more money into climate and development finance in poorer countries by providing currency guarantees to investors, according to a document seen by Reuters.

As Turkey's lira hit a record low ahead of the country's election decider on Sunday, the currency is looking increasingly dysfunctional with investors concerned about what may be in store if Tayyip Erdogan secures another decade in power.

Florida Governor Ron DeSantis said on Wednesday he would seek the 2024 Republican nomination for president, vowing to build a wall on the border with Mexico and not restrict usage of Bitcoin.

The euro dropped on Thursday as Europe's largest economy Germany was confirmed to be in a recession, while the dollar hit a two-month peak, benefitting from safe-haven demand as worries mounted about a U.S. default.

The South African rand was weaker in early trade on Thursday as investor concerns over the U.S. debt ceiling boosted the dollar and hurt riskier assets, before an interest rate announcement by South Africa's central bank.

A look at the day ahead in U.S. and global markets from Mike Dolan

South Africa's central bank raised its main interest rate on Thursday to a 14-year high, a move Governor Lesetja Kganyago described as "bitter medicine" needed to tame inflation.

The United States was put on review for a downgrade by credit rating agency DBRS Morningstar on Thursday over Washington's debt ceiling haggling, shortly after a similar warning from Fitch.

Nigeria has issued debt securities worth $1.18 billion to settle various judgment debts, outgoing President Muhammadu Buhari said in a public letter requesting parliament's approval.