Hong Kong intervenes to defend FX peg as local currency drops

Hong Kong intervenes to defend FX peg as local currency drops

[HONG KONG] Hong Kong’s de facto central bank bought the local dollar to prop it up on Thursday (Jun 26), in a move to defend the city’s currency peg to the greenback. The Hong Kong Monetary Authority (HKMA) purchased HK$9.4 billion (S$1.5 billion) of local currency. This came after the exchange rate touched the weak…

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Oil rebounds on signs of strong US demand

Oil rebounds on signs of strong US demand

[NEW YORK] Oil prices rose nearly 1 per cent on Wednesday, recovering from a sharp slide early this week, as data showed relatively strong US demand, and as investors assessed the stability of a ceasefire between Iran and Israel. Brent crude futures settled 54 cents higher, or 0.8 per cent, at US$67.68 a barrel, while US West…

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Rob Kardashian Joins Kim Kardashian for Rare Photo

Rob Kardashian Joins Kim Kardashian for Rare Photo

It’s not easy to keep up with Rob Kardashian. While the younger brother of Kourtney Kardashian, 46, Kim Kardashian, 44, and Khloe Kardashian, 40, may stay out of the spotlight more than his sisters do, the Keeping Up With the Kardashians alum does still make an appearance every so often—this time, in Kim’s latest Instagram post. “Happy…

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