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South Korea’s presidential office said in a statement on Sunday, “we will communicate closely with the US regarding this matter and make a decision after careful review.”Takayuki Kobayashi, policy chief of Prime Minister Sanae Takaichi’s ruling Liberal Democratic Party (LDP), told public broadcaster NHK, “I regard the threshold as extremely high for sending Japanese navy ships to the region under existing Japanese laws.”US President Donald Trump renewed his calls for allies to help secure the Strait of Hormuz in a post on Truth Social on Saturday.“….the Countries of the World that receive Oil through the Hormuz Strait must take care of that…
The Israel Defense Forces (IDF), the country’s military, said in its social media post on X on Sunday that Iran continued to launch missiles toward the territory of the State of Israel.“Defense systems are operating to intercept the threat,” the IDF added, while warning citizens to enter protective spaces.This comes after Iran’s Revolutionary Guard Corps (IRGC) pledged to target Israeli Prime Minister Benjamin Netanyahu as the war with the US and Israel continues.“We will continue to pursue and kill him with full force,” the Guards said of Netanyahu on Sunday, in a statement on their Sepah News website.Meanwhile, Iran accused “the enemy” of using copycat…
In an interview with NBC News on Saturday, US President Donald Trump commented on the military strikes on the Kharg Island and whether he was prepared to make a deal with Iran while pressing allies once again to help secure the Strait of Hormuz.Key quotesI’m not ready to make a deal with Iran because the terms are not good enough yet.We’ve totally decimated it. Except, as you know, I didn’t do anything having to do with the energy lines, because having to rebuild that would take years.Strikes on Kharg Island totally demolished most of the island, but we may hit…
Indian rupee is expected to remain volatile throughout March as geopolitical tensions and global economic factors continue to exert pressure on the currency, according to a report by Union Bank of India.The report noted that the Indian Rupee (INR) recently touched a historic low of ₹92.48 per dollar on March 13, reflecting the impact of both global and domestic developments on the currency market.According to the report, geopolitical tensions in the Middle East remain a key risk for the rupee’s outlook. The escalating conflict in the region has raised concerns over possible disruptions to global energy supply routes, which has…
The U.S. dollar rose across the board on Friday, set for a second straight weekly gain, as the war in the Middle East drove investors toward safe-haven assets and weighed on energy-sensitive currencies such as the euro. President Donald Trump said the U.S. was going to be hitting Iran “very hard over the next week”, shortly after issuing a partial 30-day waiver for purchases of sanctioned Russian oil, hoping to ease prices fuelled by the U.S.-Israeli war on Iran. A sharp and prolonged rise in oil prices would severely hurt the economies of Japan and the euro zone, which are…
The rupee fell to a fresh low Friday amid concerns over rising crude oil price that stayed above $100 a barrel, its impact on inflation and capital flows.The local currency closed at 92.46 against the dollar after hitting 92.49 intraday-both all-time lows -mirroring the trend across Asian currency markets. The previous record low was 92.36 hit on Thursday.For the week, the rupee closed 0.7% lower. It weakened for the second consecutive week as geopolitical worries weighed.”The rupee will remain under pressure till we see any real sign of de-escalation in the Middle East crisis,” said KN Dey, a currency risk…
India’s foreign exchange reserves fell sharply in the week ended March 6, reflecting increased currency market volatility and valuation changes amid global geopolitical tensions.The country’s total reserves declined by $11.68 billion to $716.8 billion, down from $728.4 billion in the previous week ended February 27. The drop was driven primarily by a fall in foreign currency assets and a decline in gold holdings.The movement in reserves comes at a time when the Indian rupee has been experiencing heightened volatility, with the currency recently touching record lows against the US dollar. The pressure on the rupee has been partly linked to…
US President Donald Trump said on Saturday that the US struck military targets at a strategic Iranian outpost in the Persian Gulf and warned it could hit oil infrastructure next if Tehran keeps disrupting energy flows in the Strait of Hormuz, intensifying the two-week conflict in the region.Trump noted in his post on Truth Social: “Moments ago, at my direction, the United States Central Command executed one of the most powerful bombing raids in the History of the Middle East, and totally obliterated every MILITARY target in Iran’s crown jewel, Kharg Island.” “Our Weapons are the most powerful and sophisticated that…
The Euro finalized the week posting losses of over 1.74% against the Greenback and 0.84% in the day. The EUR/USD posted four bearish days after falling below the 200-day Simple Moving Average (SMA) at 1.1672, turning the pair bearishly biased. At the time of writing, the pair trades at 1.1414.EUR/USD Price Forecast: Technical OutlookWeekly analysisThe EUR/USD weekly chart shows the pair is dipping below 1.1450, opening the door to further downside. Momentum is bearish as the Relative Strength Index (RSI) turned negative three weeks ago, after falling below the 50-neutral level.Hence, the most likely scenario for EUR/USD is to extend…
An article of the Wall Street Journal mentioned that a Federal Judge threw out a pair of subpoenas that the Justice Department issued to the Federal Reserve Chair Jerome Powell.The US District Judge James Boasberg, in a decision unsealed Friday, ruled the subpoenas were improper, a blow to the US Attorney Jeanine Pirro’s criminal investigation versus Powell.Pirro, a longtime Trump ally, began an investigation into whether Powell gave false testimony before the Congress last summer about the Federal Reserve’s renovation project. Powell responded publicly on January 11, saying the probe was a pretext for Trump’s continued pressure on the Fed to…