A court in Tbilisi sentenced opposition leader Aleko Elisashvili to 13 years in prison for attempted terrorism, a case that highlights growing political tensions and concerns over democratic backsliding in the country.
European benchmark wheat futures climbed to a six-week high amid market speculation that Russia could close the Sea of Azov to shipping, threatening exports from the world's largest supplier.
China has imposed an immediate, temporary ban on helium exports to safeguard its domestic supply as renewed conflict in the Middle East threatens global availability of the gas, which is critical for semiconductor manufacturing.
Bank of America analysts report that speculative short positions against the Japanese yen have reached near-extreme levels, increasing the risk of a sharp reversal. Foreign investors also turned net sellers of Japanese assets in June, adding to market pressure.
Government bond yields in the Eurozone, particularly short-term debt, rose sharply Wednesday amid escalating U.S.-Iran tensions and investor caution ahead of key U.S. Federal Reserve meeting minutes.
The Canadian dollar gained against its U.S. counterpart as crude oil prices surged over 5% amid escalating geopolitical tensions, which also boosted expectations for a Bank of Canada interest rate hike.
The agreement reportedly ends a four-month suspension of U.S. currency deliveries to Baghdad, which were halted to prevent dollars from reaching Iran and its affiliated militias.
UBS has expressed a favorable view on the New Zealand dollar, citing the Reserve Bank of New Zealand's recent interest rate increase and its signal for further monetary tightening.
Government bond yields in the U.S. and Europe remained near their highest levels in a month after an escalation in U.S.-Iran tensions sparked a surge in oil prices and renewed inflation fears among investors.
