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Global markets fell on Tuesday as crude oil prices pushed further above $100 a barrel and U.S. Treasury yields hit their highest level since 2007, with Nomura strategist Charlie McElligott warning that cross-asset markets are waking up to an "energy/petrochem…

Major banks are raising their forecasts for European Central Bank interest rates after the central bank's September meeting and updated projections pointed to persistent inflation pressures driven by the ongoing Middle East conflict and surging energy prices.

The dollar surged past 163 yen on Tuesday, reaching its highest level against the Japanese currency since December 1986 and intensifying expectations that Tokyo may step in to arrest the yen's slide. The USD/JPY pair rose as much as 0.3%…