Deutsche Bank’s exposure to “casino banking” in Las Vegas has reached $4.9bn, rivalling its exposure to countries affected by the eurozone debt crisis, reported the FT.
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President Barack Obama accused China on Thursday of "gaming" international trade by keeping its currency weak, but was cautious about a bill before the U.S. Senate aimed at pressing Beijing to revalue the yuan.
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The euro got off to a rocky start in Asia on Monday, falling to fresh six-month lows against the greenback and a 10-year trough on the yen as downside momentum picked up pace after several key technical levels gave way recently.*
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The U.S. central bank's plan to keep interest rates low for an extended period could add inflation pressure in countries like South Korea, Finance Minister Bahk Jae-wan said on Friday.
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Fear about the turmoil in global financial markets and the fragile world economy could drive the price of gold to record levels last seen in 1980.
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U.S. gold futures and spot gold extended gains to hit an all-time high above $1,720 an ounce on Tuesday as stock markets plunged on growing fears of a recession in the United States after Standard and Poor's cut the country's credit rating last week.***
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Gold surged to a fresh record high on Wednesday as investors sought a safe haven in the face of a fragile global economy and mounting financial market pressure on Italy in the euro zone's widening debt crisis.
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Spot gold hit an all-time high on Wednesday, for the sixth time in two weeks, as a deadlock in U.S. debt ceiling talks continued to drive up safe-haven buying in bullion.
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Gold rose to fresh record high on Monday as talks over lifting the U.S. debt ceiling appeared to be stalling just days before the Aug. 2 deadline, raising the prospect of a U.S. debt default.
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Banks across Europe are braced to take as much as 17 billion euro ($24.5 billion) of writedowns on their holdings of Greek sovereign debt within a matter of days.
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Gold touched a record high on Monday, reflecting persistent worries about the euro zone debt crisis spreading and a growing threat of a U.S. government default.
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Gold futures rose to a record settlement above $1,585 on Wednesday, as the possibility of more Federal Reserve stimulus coupled with Europe's deepening debt crisis fueled bullion's longest winning streak in five years.
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The U.S. dollar slid to a fresh one-month low against a basket of major currencies early in Asia on Monday, finding no support after disappointing jobs data bolstered expectations that U.S. interest rates will stay low for longer.
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The euro hit a one-month high against the dollar on Friday, with investors fretting whether forthcoming U.S. jobs data will give them more reason to brace for a protracted soft patch in the U.S. economy's recovery and a further dollar slide.
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The euro hit a three-week high against the dollar on Wednesday, supported by hopes for an agreement on Greece austerity steps and progress toward an aid package for Greece, bringing it near chart resistance that could limit its near-term gains.
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Germany is considering dropping its push for an early rescheduling of Greek bonds in order to facilitate a new package of aid loans for Greece, the Wall Street Journal reported, citing people familiar with the matter.
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