Euro rally against US dollar steadies - German car makers optimistic at Detroit Auto Show - Demand soaring for luxury watches
Tumbling emerging market currencies, including the Russian ruble, have caused Moscow to publicly wish for the "demise" of the greenback from global finance. Lars Halter examines how realistic such a wish actually is.
Turkish leader Erdogan has recently called on his compatriots to convert their dollar and euro savings into lira. But economist Per Hammarlund says many Turks will continue to save in dollars and other hard currencies.
Turkey's central bank has shown it has teeth, hiking interest rates beyond expectations to quell inflation and calm investor nerves. But as recession looms and Erdogan growls, Turkey is not quite out of the woods.
The US currency has suffered painful losses in Asian trading while sovereign bonds gained strongly after the US Federal Reserve raised interest rates, but signaled no pick-up in the pace of tightening.
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