Currency markets
Crypto hedge fund at center of crisis faces risk of default as deadline to repay $670 million nears
Billions of dollars of value have been wiped off the cryptocurrency market in the last few weeks. Companies in the industry are feeling the pain. Lending and trading firms are facing a liquidity crisis and many firms have announced layoffs. Yu Chun Christopher Wong | S3studio | Getty Images Three Arrows Capital, a crypto-focused hedge […]
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Russia’s ruble is at its strongest level in 7 years despite massive sanctions. Here’s why
Russian one ruble coin and Russian flag displayed on a screen are seen in this multiple exposure illustration photo taken in Krakow, Poland on March 8, 2022. Jakub Porzycki | Nurphoto | Getty Images Russia’s ruble hit 52.3 to the dollar on Wednesday, an increase of roughly 1.3% on the previous day and its strongest […]
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Sterling has further to fall as Bank of England wrestles growth-inflation conundrum, strategists say
LONDON — Sterling has fallen more than 9% against the U.S. dollar so far this year and despite a recent reprieve, currency strategists see further pain ahead for the pound. The Bank of England last week delivered another 25 basis point hike to interest rates, a more cautious move than peers such as the U.S. […]
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An aggressive Fed has global ramifications. Here are 3 ways the world could be hit
The Federal Reserve is widely expected to hike interest rates by 75 basis points on Wednesday with inflation running at a 40-year high, but aggressive tightening of monetary policy runs the risk of tipping the economy into recession. Brendan Mcdermid | Reuters Global markets took a hammering to start the week as expectations grew that […]
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The UK’s plan to rip up Brexit trade rules slammed for being in ‘clear breach’ of international law
The U.K. government has pushed ahead with plans to unilaterally override parts of the Northern Ireland protocol it agreed with the EU in 2019. Liam Mcburney – Pa Images | Pa Images | Getty Images LONDON — The U.K. government has pushed ahead with controversial plans to unilaterally override post-Brexit trade rules, ratcheting up the […]
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British pound is taking on ’emerging market’ characteristics, Bank of America says
A trader pauses while monitoring financial data on computer screens at ETX Capital, a broker of contracts-for-difference, in London, U.K. on Friday, Oct. 7, 2016. Chris Ratcliffe | Bloomberg | Getty Images LONDON – Sterling is in danger of becoming an “emerging market” currency as falling growth and growing risks cause investors to flee the […]
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Traders are lining up to short the British pound with a possible recession on the horizon
British Union flag, also known as a Union Jack, and an American flag at ETX Capital, a broker of contracts-for-difference. The pound has fallen more than 8% against the dollar, and is attracting short bets from traders as the British economy faces soaring inflation and a cost-of-living crisis. Chris Ratcliffe | Bloomberg | Getty Images […]
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UK confirms plans to change post-Brexit trade rules, risks retaliation from Europe
Truss had previously warned the U.K. would have “no choice but to act” if EU lawmakers do not show the “requisite flexibility” over the protocol. Janine Schmitz | Photothek | Getty Images British Foreign Secretary Liz Truss confirmed on Tuesday that the government intends to introduce legislation to make changes to the Northern Ireland protocol […]
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ECB’s Villeroy says too weak euro threatens price stability
ECB policymaker Francois Villeroy de Galhau. Eric Piermont | Afp | Getty Images The euro’s weakness on currency markets could threaten the European Central Bank’s efforts to steer inflation towards its target, ECB policymaker Francois Villeroy de Galhau said on Monday. The euro on Thursday hit its lowest against the dollar since 2017. It traded […]
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The UK is threatening to scrap Northern Ireland’s post-Brexit rules — stoking fears of a trade war
Johnson will visit Northern Ireland on Monday to hold emergency talks. Daniel Leal | Afp | Getty Images LONDON — The U.K. government is again threatening to unilaterally override large parts of the Brexit deal agreed with the European Union, raising the prospect of a trade war amid a power-sharing crisis in Northern Ireland. U.K. […]
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