Currency markets
Banks get bullish on the British pound despite the possibility of an imminent snapback
LONDON — With sterling as one of the best performing major currencies so far this year, analysts at various investment banks believe that the British pound still has more room to run, despite the Bank of England likely cutting interest rates in the near term. In a recent research note, experts at Goldman Sachs were […]
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Japan’s new currency diplomat keeps intervention on table to stabilize yen
An employee counts Japanese yen notes in Tokyo, Japan. Tomohiro Ohsumi | Getty Images Japan will retain its basic approach on the yen with intervention remaining an option to tackle excessively volatile moves in the exchange rate, the country’s new top currency diplomat Atsushi Mimura told Reuters. “Japan will act under internationally agreed commitments that exchange rates should be determined by markets, but that […]
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Crypto firm Ledger hikes prices of iPod-inspired wallet by 40% and launches new mid-tier option
The Ledger Flex is a new, cheaper hardware crypto wallet from French startup Ledger. It sports an E-ink display and can be used to secure a range of crypto assets. The device is retailing at $249. Ledger Cryptocurrency storage company Ledger is raising the price of its iPod-like Stax hardware wallet by 40% — just three […]
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Gold heads for record high close on view that Fed is poised to cut rates
An employee handles one kilogram gold bullions at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Chalinee Thirasupa | Bloomberg | Getty Images Gold prices advanced Tuesday, on track for a record close as rising expectations of a September interest rate cut bolstered demand for bullion. Spot gold gained […]
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The Fed may soon cut interest rates. That could make your next trip abroad more expensive
SeongJoon Cho/Bloomberg via Getty Images The U.S. Federal Reserve may start cutting interest rates before year’s end. That could make future trips abroad more expensive for the nation’s travelers. That’s due to how interest-rate policy affects the strength of the U.S. dollar. Here’s the basic idea: An environment of rising U.S. interest rates relative to […]
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Japanese yen weakens to new 38-yr lows, crosses 161 towards the U.S. dollar
New Japanese 1000 Yen banknote on exhibit inside of the Forex Museum of the Financial institution of Japan’s Institute for Monetary and Economic Studies. The new banknotes will start off circulate from July 3, 2024. Sopa Images | Lightrocket | Getty Illustrations or photos The Japanese yen weakened to clean 38-calendar year lows on Friday, […]
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Japanese yen hits weakest stage from dollar due to the fact 1986, reigniting intervention speculation
Sheets of freshly-created Japanese 10,000 yen banknotes move via a machine at the Countrywide Printing Bureau Tokyo plant in Tokyo, Japan, on Wednesday, June 19, 2024. Persistent weak spot in the yen is elevating worries about the opportunity for a resurgence in price tag-press inflation, very likely weighing on non-public intake. Bloomberg | Bloomberg | […]
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The yuan’s status as a world wide currency may be gaining ground. But leading CEOs see much more hurdles to clear
A bank worker count China’s renminbi (RMB) or yuan notes upcoming to U.S. greenback notes at a Kasikornbank in Bangkok, Thailand, January 26, 2023. Athit Perawongmetha | Reuters DALIAN, China — For China’s yuan to be made use of more globally, the forex desires much more “programs” this sort of as for stocks and bonds, […]
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Turkey’s inflation passes 75% in what economists think is peak
Town scene Yeni Camii wonderful mosque by Golden Horn of Bosphorus River, Topkapi Palace, Hagia Sophia Istanbul, Republic of Turkey Tim Graham | Getty Photographs Inflation in Turkey topped 75% in Might in what economists hope to be the peak right before costs commence to relieve. Consumer selling prices rose 75.45% in Might on an […]
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Japan confirms first currency intervention since 2022 with $62 billion in spending
New Japanese 1000 Yen banknote on display inside the Currency Museum of the Bank of Japan’s Institute for Monetary and Economic Studies. The new banknotes will start circulate from July 3, 2024. Sopa Images | Lightrocket | Getty Images Data from Japan’s Ministry of Finance Friday confirmed the country’s first currency intervention since 2022, after […]
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