The euro fell sharply overnight as traders pored over Europe’s trade deal with the United States and saw a 15% tariff slowing its economy. The yen fell too, along with the Aussie and Kiwi dollars.

In our deep dive interview, ANZ’s Chief Economist for Southeast Asia and India, Sanjay Mathur, looks at how the Reserve Bank of India could deal with surplus liquidity in the banking system.

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