FOREX-Dollar hits two-week high as traders pause before Fed meeting

FOREX-Dollar hits two-week high as traders pause before Fed meetingThe U.S. dollar rose to a two-week high on Monday as recent strong economic data led investors to think again about how dovish the Federal Reserve is likely to sound at this week's monetary policy meeting. Broader currency markets were quiet, as traders hesitated to put on large positions before the Fed's two-day meeting, a meeting of European Central Bank policymakers in Portugal and the Bank of England's interest rate decision on Thursday. Strong U.S. retail sales on Friday reduced the already-low chances of a rate cut this week and lifted the dollar, although Fed Chairman Jerome Powell may lay the groundwork for a rate cut later this year.



Iraq lifts production at Exxon’s West Qurna 1 oilfield to 465,000 bpd - officials

Iraq lifts production at Exxon’s West Qurna 1 oilfield to 465,000 bpd - officialsProduction at Iraq's giant West Qurna 1 oilfield in the south has reached 465,000 barrels per day (bpd) after the completion of new crude processing facilities and oil storage tanks, Iraqi oil officials said on Monday. West Qurna 1 oilfield, developed by Exxon, was previously producing about 440,000 bpd, officials working at the field told Reuters on the sideline of a ceremony to launch the new installations.



The Latest: France, Germany, Spain back new fighter jet

The Latest: France, Germany, Spain back new fighter jetFrance, Germany and Spain have agreed to develop a joint European fighter jet and air combat system that could also control drones and satellites. With a model of the jet as a backdrop, defense ministers from the three countries signed an agreement Monday at the Paris Air Show that lays out how the countries will cooperate on the project, which would include a new-generation combat aircraft. The Future Combat Air System is expected to be operational by 2040.



Iran says time is short for Europe to save nuclear deal: Fars

Iran says time is short for Europe to save nuclear deal: FarsThe time is short for Europe to save the international nuclear deal with Tehran after Washington's withdrawal, Iranian President Hassan Rouhani said on Monday, according to Fars news agency. "It's a crucial moment, and France can still work with other signatories of the deal and play an historic role to save the deal in this very short time," Rouhani was quoted as saying during a meeting with France's new ambassador in Iran. Rouhani said the collapse of the nuclear deal would not be in the interests of the region and the world.



UPDATE 1-Euro zone bond markets await Fed, ECB; inflation gauge at new low

UPDATE 1-Euro zone bond markets await Fed, ECB; inflation gauge at new lowEuro zone bond yields held near multi-year lows on Monday with markets waiting for direction on monetary policy from both the U.S. Federal Reserve and European Central Bank this week after inflation expectations in the euro zone plunged. Euro zone yields rose from but remained close to last week's multi-year low, after weak data from China fanned concern about the impact of a war and expectations of central bank rate cuts. A gauge of long-term inflation expectations fell to 1.1275% on Monday, its lowest ever, in a sign that markets do not believe the ECB can meet its target of close to 2% inflation.





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