The three-month London interbank offered rate for dollars climbed to a nearly 14-year high as traders brace for steady interest-rate hikes from the Federal Reserve, backing away from speculation the central bank will ease up as the economy shows signs of cooling.
Turkish inflation accelerated again and may be months away from peaking, soaring to levels unseen since 1998 as the central bank sticks with its ultra-loose monetary course.
Federal Reserve officials effectively pushed back against a narrative in financial markets over the past week that policy makers are envisioning a pivot away from tightening amid evidence of a turn in the economy.
European Central Bank officials appear to have deployed billions of euros in bond purchases to shield Italy and other southern euro members since activating their first line of defense a month ago to keep speculators at bay.
A deepening dependency on U.S. diesel deliveries in many parts of the world could lead to problems in the coming months as domestic demand for the fuel increases while production fails to increase at the same rate.