Page 7 - Frx News Today

Big global currencies are rarely on different paths. Yet Japan's yen and China's yuan are slumping against the dollar while in Europe the euro is outperforming and sterling is on a tear.

Western central banks have been warned this week not to quit in the final lap of their monetary tightening campaign - the hard yards households and financial markets may now find exhausting.

A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist.

The European Central Bank will likely keep raising interest rates after its next meeting even as the economy slows because inflation remains too high, ECB policymaker Martins Kazaks said on Tuesday.

Turkey's lira touched a record low of 26.10 against the dollar early on Tuesday during low liquidity hours, after an official and bankers said the central bank had stopped using its reserves to support the currency.

China's major state-owned banks were seen selling dollars in the offshore spot foreign exchange market on Tuesday, four sources with knowledge of the matter said, suggesting authorities wanted to slow the pace of the yuan's recent slide.

A look at the day ahead in European and global markets from Vidya Ranganathan.

A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist.

Oil was slightly higher on Monday as an abortive weekend mutiny by Russian mercenaries raised questions about crude supply, while stocks lacked direction as investors waited for more clarity around the situation.

The dollar held near a one-week high against its major peers on Monday as traders weighed the impact of protracted monetary tightening cycles on the global growth outlook and as worries over a deep downturn in major economies lingered.