Commonwealth Bank of Australia

Dollar hits 20-year high as Fed flags rates higher for longer

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Dollar hits 20-year high as Fed flags rates higher for longer

SINGAPORE – The U.S dollar surged to a 20-year high against a basket of currencies on Monday after Federal Reserve Chair Jerome Powell signalled interest rates would be kept higher for longer to bring down soaring inflation. The dollar index scaled to a fresh two-decade peak of 109.4 in early Asia trade, with greenback strength … Read more

As Sanjeev Gupta rose from trader to tycoon, several banks backed away

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As Sanjeev Gupta rose from trader to tycoon, several banks backed away

British industrialist Sanjeev Gupta’s companies seemed to be prospering until his main lender, Greensill Capital, imploded last month. But long before Greensill collapsed, several banks had cut off the commodity trading business of Gupta’s Liberty House Group. Four banks stopped working with Gupta’s commodity trading business, starting in 2016, after they became concerned about what … Read more