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Pound May Lose Its Reserve Currency Status on Brexit, S&P Warns

A Brexit wouldn’t just weaken the pound -- it would jeopardize its status as a reserve currency used in world trade, according to S&P Global Ratings. Sterling lags only the dollar and euro in central banks’ holdings, a legacy of Britain’s large economy, its trusted legal...

Iran’s Crude Exports Surge With Days to Go Before Freeze Talks

Iran’s crude shipments have risen by more than 600,000 barrels a day this month, adding to the pressure facing producer nations as they prepare to meet in Doha to discuss freezing output to prop up oil prices. Tankers carrying about 28.8 million barrels of crude, or...

Bank of England Raises Buffer Rate as Stability Risks Grow

The Bank of England said banks should begin building up capital earmarked to support lending when the economy turns down, as the outlook for U.K. financial stability worsens. The BOE’s Financial Policy Committee raised the countercyclical capital buffer rate for U.K. exposures to 0.5 percent of...

Wall Street’s No. 1 Technical Analyst Says ‘Fade This Breakout’

One of the most widely-followed Wall Street analysts isn’t convinced that the recent rally in U.S. stocks means the worst is over. While the Standard & Poor’s 500 Index’s 2.4 percent surge Tuesday pushed it through its average price over the past 50 days and above...

Oil Market Storm Clears as Prices Stabilize on Output Deal

Oil is pulling away from the market’s biggest storm in seven years. A measure of price volatility has tumbled from the highest level since January 2009 as the market frenzy eases amid a potential pact between the world’s largest producers to freeze output. Investors in February fixated on how...

G-20 Seeks Infrastructure Push to Help Boost Global Economy

Global finance chiefs are stepping up their call for development lenders such as the World Bank to help support economic growth by further opening the infrastructure taps. Multilateral development banks should present concrete actions by July, according to a draft of the communique for the Group...

Sterling heading for biggest one-day fall since 2009 on Brexit fears

The pound is heading for its biggest drop in nearly seven years against the dollar amid uncertainty about a possible British exit from the EU. At one stage it was down 2.1% at $1.41020, the biggest one-day drop since March 2009. The move follows London Mayor Boris...

Europe Stocks Resume Slide as Societe Generale, Rio Tinto Plunge

The relief rally that swept through Europe’s stock markets Wednesday came to an abrupt halt, as shares slid for the eighth time in nine days and headed for their lowest levels since September 2013. The Stoxx Europe 600 Index lost 3.5 percent at 1:05 p.m. in...

First Taste of 2016 Currency Swings Has Traders Hungry for More

After the worst annual performance since 2011 for currency managers, exaggerated price swings during the first two trading days of the year have traders on alert. Investors returning to their desks saw foreign-exchange volatility jump to the most in a month as Chinese stock markets plunged...

No Respite From Europe Rout With Stock Swings Widest Since 1999

Two days back from the worst December in more than a decade and European stock investors are coping now with the most volatile start to a year since 1999. While stocks everywhere have been whipsawed as concerns about a China-led recession mixed with divergent growth signals,...

Oil’s Drop Below $50 May Be Just the Start as Demand Swoons

Oil has fallen to a six-month low, and hopes of a quick rebound are fading as demand heads into an autumn swoon. Brent crude tumbled below $50 on Monday for the first time since January. Gasoline fell the most in almost three years. The slump may have...