NewsMV
Iran Talks Stall, Asia FX Bends: Rupee, Rufiyaa and Taka Feel the Dollar Bid MALE — A bruising Thursday session across Asian currency desks served as a fresh reminder of how tightly the Indian Ocean rim is wired to the next headline out of Tehran.
With reports that the latest round of indirect contacts between Iran and Western negotiators has lost momentum, the dollar index pushed higher, the rupee, rufiyaa, taka and Pakistani rupee all gave ground, and a stronger-than-expected Chinese CPI print did little to interrupt the move.
For Maldivian and South Asian importers, the picture is grimly familiar. China's headline inflation rose 0.5% year-on-year, above the 0.3% consensus, with food and services doing most of the heavy lifting.
Producer prices fell by less than feared. On paper, that is a constructive read on the world's second-largest economy.
Keep reading