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.
…
In an interview with Al Sharq, Türkiye's FM pledges to 'work closely' with regional powers to build a better Syria and hopes Iran will seize the opportunity to recalibrate its approach to the region
With protectionists back in the White House, globalists attending the World Economic Forum were left 'playing second fiddle'. Al Majalla reviews some of the key highlights from the summit.
Cairo wants to show Trump it is a player worth consulting when it comes to Mideast geopolitics, but his comment that Jordan and Egypt should take in Palestinians will not be well-received
The two leaders controlling most of Syria's territory are in talks over the country's future. Much is still uncertain, but observers are hopeful that a military confrontation can be avoided.
From her tough times living in Tamay az-Zahayrah to a life of stardom, Al Majalla revisits Umm Kulthum's memoirs, as narrated to the late Egyptian writer Ali Amin
Al Majalla - London
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