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Currencies

Morning Bid: Relief rally eyed on US debt ceiling deal

May 29 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever.Optimism and relief are likely to be the dominant emotions for investors on Monday, giving markets in Asia a lift as lawmakers in Washington reached a tentative agreement on the U.S. debt ceiling, thus removing the risk of a catastrophic default.Trading and market liquidity in Asia will be lighter than usual, however, with U.S. and UK markets closed for holidays, opening up the potential for outsized market moves.If so, they are likely to be outsized...
Banking

Sanctions, pressure on foreign banks destabilising Russia’s foreign-exchange market, central bank says

This content was produced in Russia where the law restricts coverage of Russian military operations in UkraineMOSCOW, May 26 (Reuters) - Pressure on foreign banks operating in Russia and the widening scope of sanctions is aggravating foreign currency settlements in Russia and creating periodic imbalances on the domestic market, the central bank said on Friday.Western sanctions on Moscow over its actions in Ukraine have curbed its use of dollars and euros, with settlements in currencies Russia considers "friendly" - those of countries that have not imposed sanctions - increasing significantly.But...
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