Lavrov said the cap was irrelevant, the strongest hint yet of a possible softening. With such a generous cap, buyers and sellers can easily claim it's just business as usual
The US Department of Treasury on Friday removed India along with Italy, Mexico, Thailand and Vietnam from its Currency Monitoring List. China, Japan, Korea, Germany, Malaysia, Singapore, and Taiwan are the seven economies that are a part of the current monitoring list, the Department of Treasury said in its biannual report to the Congress. The countries that have been removed from the list have met only one out of three criteria for two consecutive reports, it said. China's failure to publish foreign exchange intervention and broader lack of transparency around key features of its exchange rate mechanism makes it an outlier among major economies and warrants Treasury's close monitoring, said the report.
Yellen will meet with tech sector haeds, visit Microsoft India Development Center, and hold a bilateral meeting with FM Sitharaman
The Dow Jones Industrial Average fell 0.46% to 32,001.25, the S&P 500 lost 1.06% to 3,719.89 and the Nasdaq Composite dropped 1.73% to 10,342.94
The dollar loomed over major peers as Treasury yields peaked at multi-year highs, while the yen tumbled to a fresh 32-year low and kept markets on high alert
US 10-year Treasury yield at highest since July 2008; Netflix jumps after reversing customer losses; P&G, Travelers post upbeat earnings; PHLX Housing Index falls 3% on weak US housing data
Gold prices on Monday rose more than 1% after declines in the previous two sessions, as the U.S. dollar and Treasury yields faltered
Dip in dollar, bonds, and oversold markets boost global equities
Gold's outperformance over equity has been even better in the international market, thanks largely to a big sell-off in equities in advanced economies such as the US and Western Europe
FPIs buy shares worth Rs 1,345 crore
The benchmark US 10-year yield was little changed at 3.945 per cent after earlier climbing to 4.015 per cent.
The benchmark 10-year Treasury yield hit its highest in over a decade on Monday and the dollar strengthened as investors were on edge before an expected hefty Fed interest rate hike
On Wall Street, all three major indexes ended with gains of at least 1%, scoring their first weekly increase in four weeks
The benchmark 10-year Indian government bond yield ended at 7.2318%. The yield rose two basis points on Thursday to end at 7.2146%
Gold snapped a six-session losing streak while Wall Street was little changed on hopes the Fed will turn dovish
Spot gold was flat around $1,771.29 per ounce by 0843 GMT, after hitting its highest since July 5 at $1,780.39 earlier in the session.
What led to such record outflows? "Rising global central banks' rates, rupee depreciation, expensive valuations and geopolitical risks," says BofA in a note.
Western markets fear recession and domestic business is uncertain ahead of festival season later this year
Yellen touted her "friend-shoring" concept as a way to reduce the vulnerabilities of a supply system badly strained over the past two years
Yellen, speaking at a meeting of G20 finance officials in Indonesia, said countries should target fiscal support measures to help those most in need