Yemen's President Abd-Rabbu Mansour Hadi has fled his refuge in Aden for Saudi Arabia as Houthi rebels battled with his forces on the outskirts of the southern port city.
Dramatic escalation in Yemen overnight with Saudi Arabia and its Gulf allies launching military operations including air strikes in Yemen to counter Iran-allied forces besieging the southern city of Aden where the U.S.-backed president is holed up.
Currency concerns in the central banking world have come to the fore again.
Sweden cut interest rates further into negative territory out of the blue last week, fearing its strong currency will engender deflation. The Swiss National Bank said it would aim to weaken what it sees as a "significantly overvalued" franc. And the Bank of England flagged the risk that sterling could strengthen further and leave inflation below target for longer.
G20 finance ministers and central bankers meeting in Istanbul will pledge to act decisively on monetary and fiscal policy if needed to combat the risk of stagnation, according to a draft communique obtained by Reuters last night. As has been customary at these summits, a lot of the discussion implicitly centres on Germany.