The euro rallied to a two-month high against the dollar after European Central Bank President Mario Draghi said inflation is expected to rise gradually, damping bets policy makers will introduce further monetary stimulus.
The emergence of an Indian coalition government of smaller parties after elections this year may weaken the rupee and heighten risks to the nation’s credit ratings, Moody’s Investors Service said today.
Tata Steel Ltd., India’s biggest producer of the alloy, missed analysts’ estimates while turning to profit in the fiscal third quarter as higher taxes and raw material costs eroded gains from a demand recovery in Europe. Shares decline.
The global sugar surplus will extend for a fourth year in 2014-15 as cane is still more profitable than other crops and currency devaluations in producing nations help offset price drops, according to Louis Dreyfus Commodities.