As Egypt hopes to free itself from the pressure posed by the dollar, it looks to join BRICS, which some see as a potential counter-alliance and future rival of G7.
The US currency has faced rivals before. Its reserve currency status looks safe while rivals like China's renminbi and the euro are without key advantages underpinning its international appeal.
The U.S. dollar held its ground on Wednesday as traders waited for this week's U.S. consumer price data to see whether it will confirm that inflation is in retreat.
The euro flattened against the…
The Egyptian pound weakened to 26.49 to the dollar on Wednesday, its biggest one-day move since the central bank allowed it to fall by 14.5% on Oct. 27, according Refinitiv Data.
It was about 24…
The pound and Japanese yen edged off multi-month highs against the dollar on Monday as traders, investors and analysts started to speculate whether the greenback's recent bout of weakness was coming…
The dollar fell on Wednesday ahead of a speech by Federal Reserve Chair Jerome Powell and a look at private-sector employment data for November, as it barrelled towards its biggest monthly loss since…
The U.S. dollar held onto losses on Thursday after the minutes from the Federal Reserve's November meeting supported the view that the central bank would downshift and raise rates in smaller steps…
The dollar rose on Thursday, after earlier falling to a one-month low in choppy trading ahead of an expected rate hike from the European Central Bank (ECB).
Meanwhile, the yen gained some footing…
The euro climbed back above parity against the dollar for the first time in a month on Wednesday after poor U.S. economic data reinforced speculation that the Federal Reserve will slow its interest…
Switzerland exited the era of negative interest rates on Thursday when its central bank joined others around the world in tightening monetary policy more aggressively to combat resurgent inflation.
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Israel's UNRWA ban further cements its disregard for the world governing body and its resolutions. Like apartheid South Africa, Israel should be suspended from the General Assembly.
The drug trade is bankrolling the Damascus government through an illicit trade valued at around $57bn. Al Majalla explains why it started and how it's shaping Syrian society.
Jordan's foreign minister says "ethnic cleansing" is unfolding in the north of Gaza, telling Blinken "it has got to stop". Is Israel implementing 'The Generals' Plan'?
Online, he is an avid user of social media. Offline, Iran's foreign minister is a seasoned international diplomat known for his calm but serious manner and negotiating skills.