January, 2023

• 3 January

  US in talks with Seoul on deterring Kim from using nukes

  

  Bloomberg The US is in discussions with South Korea on ways to deter Kim Jong-un’s regime from using nuclear weapons, according to a spokesperson for the National Security Council. Following a meeting in Cambodia last year, US President Joe Biden and South Korean counterpart Yoon Suk Yeol asked their teams to plan for an effective coordinated response to a range ...

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• 3 January

  McConnell reaches new milestone

    Bloomberg Mitch McConnell is set to break Democrat Mike Mansfield’s record as longest-serving Senate party leader when he starts his 17th year as Republican leader — a mark of stability in a Capitol riven by chaos on the House side of the building. McConnell, 80, is now poised to serve as he did a dozen years ago: As a ...

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• 3 January

  Bulgaria starts new bid to form coalition

  

  Bloomberg Bulgaria’s president gave a former ruling party the chance to create a new government and steer the nation out of a political crisis that may lead to the fifth elections in two years. President Rumen Radev tapped Nikolay Denkov, a chemistry professor nominated by the We Continue the Change party, to lead coalition talks. Denkov will have a week ...

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• 3 January

  Deeply impressed by US: China’s Qin

  

    Bloomberg New Chinese Foreign Minister Qin Gang offered effusive praise of Americans after stepping down as his nation’s top envoy to Washington, signalling that ties between the world’s biggest economies appear to be warming despite recent tensions over Taiwan. “I have been deeply impressed by so many hard-working, friendly and talented American people that I met,” Qin said in ...

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• 3 January

  McCarthy’s bid for House speaker remains in doubt

    Bloomberg Representative Kevin McCarthy’s chances of becoming House speaker remained in doubt hours before Republicans formally take control of the chamber. With Republicans holding only a slender majority when the new Congress convenes, McCarthy can’t lose more than four GOP votes in his bid for speaker, and at least 14 Republicans still hadn’t promised their support. Some of his ...

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• 3 January

  Yen extends gains to strongest since ’22 after BOJ policy shift

  

  Bloomberg The yen advanced to a six-month high versus the dollar as Japan’s decision to raise its bond-yield cap last month stoked bets the nation may tighten policy even more. The currency appreciated as much as 0.8% to 129.79 per dollar, surpassing the level of 130.41 set in August, and reaching the strongest since June. Gains were exacerbated due to ...

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• 3 January

  BOK pledges coordination to soften economic landing

  

    Bloomberg Bank of Korea (BOK) Governor Rhee Chang-yong said the central bank will do its best to coordinate policy with the government to ensure the economy has a soft landing at a time when the country faces an array of headwinds from falling exports to a weakening property market. The BOK will monitor financial and foreign exchange markets closely ...

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• 3 January

  Dollar makes strong start to 2023

  

  Bloomberg The dollar posted gains against nearly all its major peers as trading kicked off in 2023 after a seasonal holiday lull. Only the Japanese yen proved stronger than the greenback among Group-of-10 currencies, with the pound, euro and Swiss franc falling sharply. That saw the Bloomberg dollar spot index climb as much as 0.9%, putting it on track for ...

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• 3 January

  SNB sells $800m of currency after decade of buying in ’22

    Bloomberg The Swiss National Bank (SNB) made its first significant reduction of other currencies in more than a decade to shore up the franc as a firewall against imported inflation. The central bank cut its holdings of other foreign exchange by 739 million francs ($800 million) in the third quarter, following a 5 million-franc drop in the previous three-month ...

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• 3 January

  Singapore dollar, Thai baht to tussle for best ‘currency’

  

    Bloomberg The race to be Southeast Asia’s best-performing currency in 2023 looks like being between the Thai baht and Singapore dollar. The baht is set to be powered by an influx in Chinese tourists after the mainland rescinded most of its Covid controls over the past month, paving the way for a recovery in outbound travel. The mainland is ...

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