A New York Fed study finds the decline in the dollar's share of official FX reserves reflects actions by a minority of reserve managers rather than widespread reallocation. The dollar accounted for 56% of official reserves last year versus 64% a decade earlier; researchers Linda S. Goldberg and Sneha Parthasarathy say since 2015 the number of countries increasing and decreasing dollar holdings has been roughly balanced. "There is little evidence of broad official diversification away from the do

Iran parliament speaker Ghalibaf said Iran will adopt a higher-intensity military posture in a war with the US, warning any infringement on Iranian interests or security will receive a “faster, fiercer, more painful” response. He reiterated that future retaliation would no longer be proportional. Ghalibaf acknowledged Iran is under severe economic pressure from US-led comprehensive sanctions and isolation, citing sharp exchange-rate swings, inflation, unemployment and market management as fundamental challenges that have hit livelihoods. He said Tehran must boost domestic production and use technology to design short-term and permanent solutions.

Jaguar Land Rover CEO says the company will cut about 4,000 jobs globally over the next two years.