Asian Currencies May Chart Different Paths After Recent Rally
Asian currencies are set to take divergent paths after a collective rally against the dollar, as investors navigate trade uncertainty and growth concerns about the world's top two economies.
China's yuan may appreciate beyond its current resistance of 7.20 against the greenback by some estimates, while South Korea's won faces 1,380 per dollar as the immediate ceiling. Meanwhile, the Malaysian ringgit and Thai baht both may resume weakening, with India's rupee eying support at 86.20 per dollar.
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Fox News
43 minutes ago
- Fox News
Trump juggles China framework trade deal, LA's anti-ICE riots and Israel's Iran strike in 21st week in office
President Donald Trump had a whirlwind 21st week back in the Oval Office, including securing the framework for a trade deal with China, continued handling of anti-ICE riots spiraling in Los Angeles, and putting a heightened focus on Iran after Israel launched a sweeping strike on the nation. Here's what happened during his 21st week in office: Highly anticipated trade talks with China were held in London this week and led to a preliminary agreement between the world's two biggest economic powers. "Our deal with China is done, subject to final approval with President Xi and me," Trump posted to Truth Social Wednesday of framework for a trade deal. The Trump administration had leveled tariffs as high as 145% on Chinese goods following the president's reciprocal tariff plans in April, when China retaliated against the U.S. with tariffs of its own. China and the U.S. reached a preliminary trade agreement in May, which Trump said China violated in a Truth Social post at the end of May. Trump spoke with Chinese President Xi Jinping June 5 to discuss trade negotiations between Washington and Beijing, before Trump's team of trade leaders — including Treasury Scott Bessent, Secretary of Commerce Howard Lutnick and United States Trade Representative Ambassador Jamieson Greer — headed to London to speak with Chinese counterparts. "We made a great deal with China," Trump celebrated from a red carpet event at the Kennedy Center Wednesday. "We're very happy with it," Trump added. "We have everything we need, and we're going to do very well with it. And hopefully they are, too." Trump said the deal includes China supplying rare earth materials to the U.S., and that Trump will "work closely" with Xi "to open up China to American Trade." "Full magnets, and any necessary rare earths, will be supplied, up front, by China. Likewise, we will provide to China what was agreed to, including Chinese students using our colleges and universities (which has always been good with me!). We are getting a total of 55% tariffs, China is getting 10%. Relationship is excellent!" Trump said Wednesday. Trump's week started out largely focusing on the anti-ICE riots spiraling in Los Angeles, which also led to protests in other cities nationwide in rebuke of the administration's efforts to deport the millions of illegal immigrants who flooded the nation under President Joe Biden's White House tenure. Riots broke out in L.A. after federal law enforcement officials converged on the city to carry out immigration raids. Local leaders such as Los Angeles Mayor Karen Bass and Gov. Gavin Newsom quickly denounced the raids in public statements while offering words of support for illegal immigrants in the state. Protests over the raids soon devolved into violence as rioters targeted federal law enforcement officials, including launching rocks at officials, looting, fires and shutting down roads and highways. Trump announced June 7 that he was deploying 2,000 National Guard members to help quell the violence, and the administration deployed hundreds of Marines to respond to anti-immigration chaos Monday evening as the violence continued. "If I didn't 'SEND IN THE TROOPS' to Los Angeles the last three nights, that once beautiful and great City would be burning to the ground right now," Trump posted to Truth Social Tuesday morning. California launched a lawsuit against the administration for activating the National Guard, which bypassed the governor who typically deploys the National Guard during a state of emergency. U.S. District Judge Charles R. Breyer sided with Newsom and his administration's lawsuit in a decision Thursday ordering Trump to return control of the Guard to the state "forthwith." A federal appeals court on Thursday, however, issued an administrative stay of the lower court's order, handing the Trump administration a temporary win. "The Appeals Court ruled last night that I can use the National Guard to keep our cities, in this case Los Angeles, safe," Trump posted to Truth Social Friday. "If I didn't send the Military into Los Angeles, that city would be burning to the ground right now. We saved L.A. Thank you for the Decision!!!" Trump activated the National Guard as he and federal officials condemned rhetoric from local Democratic elected officials who publicly spoke out against federal law enforcement officials converging on Los Angeles to carry out immigration raids. Federal officials pinned blame for the violence on Democratic elected officials who have "villainized and demonized" ICE law enforcement, Fox Digital previously reported. "The violent targeting of law enforcement in Los Angeles by lawless rioters is despicable and Mayor Bass and Governor Newsom must call for it to end," Department of Homeland Security Assistant Secretary Tricia McLaughlin wrote in a June 7 statement. "The men and women of ICE put their lives on the line to protect and defend the lives of American citizens.… From comparisons to the modern-day Nazi gestapo to glorifying rioters, the violent rhetoric of these sanctuary politicians is beyond the pale. This violence against ICE must end." Israel launched strikes on Iran Thursday evening, with Trump telling Fox News' Bret Baier that there were no surprises over the attacks and that he was aware they would unfold ahead of time. "Iran cannot have a nuclear bomb, and we are hoping to get back to the negotiating table," Trump said Thursday. "We will see. There are several people in leadership in Iran that will not be coming back." The strikes led to the deaths of top Iranian military officials, including: Commander of the Islamic Revolutionary Guards Corps (IRGC) Hossein Salami, Chief of the Iranian Armed Forces Mohammad Hossein Bagheri and Commander of Iran's Emergency Command Gholam-Ali Rashid. Trump warned in a Truth Social message Friday that Israel's next round of strikes on Iran would be "even more brutal," encouraging Iran to make a nuclear deal amid ongoing talks with the U.S. "There has already been great death and destruction, but there is still time to make this slaughter, with the next already planned attacks being even more brutal, come to an end," Trump said. "Iran must make a deal, before there is nothing left, and save what was once known as the Iranian Empire. No more death, no more destruction, JUST DO IT, BEFORE IT IS TOO LATE." Before Israel launched attacks on Iran, the U.S. and Iran were scheduled to hold another round of nuclear talks this weekend regarding whether Iran should have the capacity to enrich uranium. "The United States makes the best and most lethal military equipment anywhere in the World, BY FAR, and that Israel has a lot of it, with much more to come - And they know how to use it," Trump continued on Truth Social. "Certain Iranian hardliner's spoke bravely, but they didn't know what was about to happen. They are all DEAD now, and it will only get worse!" Trump held a meeting with his National Security Council Friday to discus the strikes. Trump's 21st week in office is slated to cap off with a military parade on the streets of Washington, D.C., in honor of the U.S. Army's 250th anniversary, which also falls on Flag Day and Trump's 79th birthday. The patriotic event is anticipated to garner protests, as critics of the president slam him over the immigration raids in Los Angeles and elsewhere, and claim he is operating like a "king." "If there's any protest once they come out, they will be met with very big force," Trump told reporters Tuesday. "I haven't even heard about a protest. But people that hate our country … they will be met with very heavy force."
Yahoo
an hour ago
- Yahoo
Pulsar Group plc (LON:PULS) Is Expected To Breakeven In The Near Future
We feel now is a pretty good time to analyse Pulsar Group plc's () business as it appears the company may be on the cusp of a considerable accomplishment. Pulsar Group plc, together with its subsidiaries, engages in the provision of Software-as-a-Service products and services to consumer brands and blue-chip enterprises, marketing agencies, and public sector organizations in the United Kingdom, North America, Europe, Australia, New Zealand, Asia, and internationally. The UK£55m market-cap company announced a latest loss of UK£6.6m on 30 November 2024 for its most recent financial year result. The most pressing concern for investors is Pulsar Group's path to profitability – when will it breakeven? We've put together a brief outline of industry analyst expectations for the company, its year of breakeven and its implied growth rate. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. Pulsar Group is bordering on breakeven, according to some British Software analysts. They expect the company to post a final loss in 2025, before turning a profit of UK£800k in 2026. So, the company is predicted to breakeven just over a year from now. In order to meet this breakeven date, we calculated the rate at which the company must grow year-on-year. It turns out an average annual growth rate of 102% is expected, which is extremely buoyant. Should the business grow at a slower rate, it will become profitable at a later date than expected. Given this is a high-level overview, we won't go into details of Pulsar Group's upcoming projects, however, take into account that by and large a high growth rate is not out of the ordinary, particularly when a company is in a period of investment. View our latest analysis for Pulsar Group One thing we'd like to point out is that The company has managed its capital prudently, with debt making up 14% of equity. This means that it has predominantly funded its operations from equity capital, and its low debt obligation reduces the risk around investing in the loss-making company. There are too many aspects of Pulsar Group to cover in one brief article, but the key fundamentals for the company can all be found in one place – Pulsar Group's company page on Simply Wall St. We've also compiled a list of important aspects you should further research: Valuation: What is Pulsar Group worth today? Has the future growth potential already been factored into the price? The intrinsic value infographic in our free research report helps visualize whether Pulsar Group is currently mispriced by the market. Management Team: An experienced management team on the helm increases our confidence in the business – take a look at who sits on Pulsar Group's board and the CEO's background. Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore our free list of these great stocks here. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Yahoo
an hour ago
- Yahoo
Anwar: Private preschools to universities exempt from education levy for one year from Jan 1
KUALA LUMPUR, June 14 — The government is waiving education levy payments for all private learning institutions for one year, starting January 1, 2026. Prime Minister Datuk Seri Anwar Ibrahim said the move aims to reduce the financial burden faced by these institutions, New Straits Times reported today. 'This is to allow these institutions to improve their resources and learning materials. 'We want to ensure that our children receive the best possible training because that is the key to success,' he was quoted as saying during the launch of National Training Week 2025 at the Bukit Jalil National Stadium grounds here. He said the exemption will cover all levels, including preschools, primary and secondary schools, vocational colleges, and institutions of higher learning. Anwar said the decision was made after taking into account feedback from education and training institutions. He said many had appealed to the government for support to ease operational pressures. Anwar directed the secretaries-general of the Ministry of Education and the Ministry of Human Resources to monitor the institutions and ensure their service remains top notch after the exemption. Employers are required to pay a levy to the Human Resource Development Corporation, an agency under the Ministry of Human Resources, for training and skills development under the Human Resources Development Act 2001 (Act 612).
