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Myanmar Earthquake: Death Toll Climbs to 3,145 Amid Ongoing Rescue Efforts

The devastating earthquake that struck Myanmar nearly a week ago has claimed at least 3,145 lives, with search and rescue teams continuing to recover bodies from the rubble. The 7.7 magnitude quake, which had its epicenter near Mandalay, Myanmar's second-largest city, caused widespread destruction, including collapsed buildings, damaged roads, and destroyed bridges.  Humanitarian aid groups are working tirelessly to provide survivors with medical care and shelter, as thousands remain homeless and vulnerable to disease outbreaks. The United Nations estimates that over 17 million people have been affected by the disaster, with more than 9 million severely impacted.  In response to the crisis, Myanmar's military government has declared a temporary ceasefire to facilitate relief efforts. However, ongoing challenges, including communication blackouts and difficult-to-reach areas, have hindered the full assessment of the disaster's impact.  The coming days will be critical in d...
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Dollar’s Downturn: A Five-Month Low Amid Rate Cut Speculation


The U.S. dollar is poised for its most significant weekly decline in five months, driven by the Federal Reserve’s potential shift towards rate cuts, contrasting with the firmer stance of European central banks.

This divergence has fueled gains for the euro and the pound, while futures markets now reflect a 75% likelihood of a U.S. rate cut by March. Despite a rally in risk assets, concerns linger over the U.S. economy’s slowdown and persistent inflation, which could prompt a return of inflation if the Fed eases too quickly. 

Meanwhile, the ECB and BoE maintain their focus on combating inflation, with investors still anticipating rate cuts next year. The yen has also strengthened, marking its longest streak of gains against the dollar since mid-2020.

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