A Ministry of Commerce spokesperson did not mention any U.S. actions specifically, but it's been a tense couple of weeks for the trade negotiations.World Politicsread more
U.S. stock index futures were lower Thursday morning, as market participants continue to monitor an intensifying trade war between the world's two largest economies.US Marketsread more
British Prime Minister Theresa May could announce her resignation in the next few days, according to U.K. media reports, as she faces increasing pressure from members of her...Europe Politicsread more
A federal judge in New York City on Wednesday said Deutsche Bank and Capital One can turn over financial documents related to President Donald Trump and his businesses in...Politicsread more
Richard Yu, CEO of Huawei's consumer business, said Huawei's own operating system for smartphones and laptops could be ready for use in China by fall this year.Technologyread more
Chinese government-aligned experts are stressing that the U.S. will need to negotiate a trade agreement with Asia's largest economy.China Economyread more
Shares of Chinese telecommunications heavyweight Huawei's suppliers took a hit on Thursday amid the ongoing fallout surrounding the Chinese telecommunications giant.Asia Marketsread more
Lawmakers, lobbyists and CEOs in the U.S. are looking to trying to pick out the best parts of the EU's privacy law called GDPR – and ditch what they see as the worst.Technologyread more
Indian Prime Minister Modi is on course to return to power for a second term after his party reportedly won big at the parliamentary elections.Electionsread more
The embattled German lender saw its share price hit a record low Monday, down nearly 5% since the start of the year.Banksread more
The interaction, witnessed by a senior administration official, followed President Donald Trump's abrupt exit out of a meeting with Democratic congressional leaders.Politicsread more
(Adds quote from economist)
BUENOS AIRES, March 26 (Reuters) - Argentina's peso currency weakened 1.1 percent to an all-time low of 42.55 per U.S. dollar on Tuesday, as concerns about high inflation and political uncertainty ahead of the October presidential election dented confidence in the economy.
The markets rejoiced in late 2015 when center-right Buenos Aires Mayor Mauricio Macri was elected leader of Argentina on promises that his orthodox policies would attract waves of foreign direct investment after eight years of free-spending populism under outgoing President Cristina Fernandez.
Latin America's No. 3 economy has soured over the last year, however, with benchmark interest rates in excess of 66 percent and inflation galloping at more than a 50 percent annual rate.
Fernandez, still popular among millions of the country's low-income voters, may challenge Macri in October. His popularity has been gouged by Argentina's shrinking economy and the higher public utility bills that followed after Macri reduced electricity, water and heating gas subsidies.
"Markets are really nervous about the October presidential election, so every time there's a poll with negative numbers for Macri, you will see a negative reaction on the peso," Carlos de Sousa, a senior economist at Oxford Economics, said to Reuters.
He added, however, that despite Tuesday's record low, he had an optimistic view on the peso over the next six months.
"We think the central bank's ultra-hawkish stance will provide sufficient support to avoid another currency crisis even if the political outlook remains highly uncertain," De Sousa said. (Reporting by Jorge Otaola; additional reporting by Cassandra Garrison; writing by Hugh Bronstein Editing by Marguerita Choy)