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...The firm, which trades tens of thousands of products, including currencies, exchange traded funds and options, reported profits of $5.9bn in 2023 and $6.7bn in 2022....
...Both currencies still badly lag behind the dollar, which accounts for more than 80 per cent of the global trade financing market....
...Research by the economists Olivier Jeanne and Jeongwon Son notes that in 2018-19 the US imposed new tariffs of 15 per cent on average on its imports from China, but the renminbi depreciated by 7 per cent...
...That optimism has been fuelled by bitcoin’s 121 per cent rise in the past six months as US regulators approved stock market funds that invest directly in bitcoin....
...South African telecoms company MTN, which makes a third of its earnings from Nigeria, suffered an almost 80 per cent drop in annual profits in 2023....
...The controls, which fix the peso’s value — about 830 pesos to the US dollar — cause huge distortions in Argentina’s economy and are a barrier to investment....
...The UK-based lender earns most of its profits in Asia and holds a 19 per cent stake in BoCom....
...The report noted that the way in which China was buying gold and selling Treasuries reflected the shift in global currency regimes in the decades leading up to the 1980s....
...In addition, so-called “whales” dominate ownership, with 0.25 per cent of addresses holding 80 per cent of total bitcoin supply, according to Bitinfocharts data....
...Soundbite of the week: Crypto crime vs dollar crime One of my pet peeves covering this industry is the lazy argument that more money is laundered via the US dollar and other major world currencies than...
...Funds have “closed all of their short US dollar exposure in aggregate”, with their long positions now equal to more than 80 per cent of their maximum exposure over the past year, according to Citi....
...At the point of its rollout last summer, the San Francisco and Berlin headquartered start-up avoided launching its crypto tokens in the US on account of the country’s harsh crackdown on the digital assets...
...There is also some limited trade denominated in local currencies to avoid Ukraine-related US trade and financial sanctions....
...Brokers confirm that individuals have been pouring new money into them, but that as much as 80 per cent of the flows are going to yen-denominated products that give exposure to US and other foreign equities...
...A fee war has broken out among the asset managers hoping to launch spot bitcoin exchange traded funds in the US, even though the US regulator has not yet indicated whether it will allow the products to be...
...This week, we’re taking a look at US regulators’ powers to rain on crypto’s parade in 2024. As Christmas approaches, there are no shortage of bullish predictions for 2024 around the crypto market....
...And neither sum comes close to the $3.2tn of Treasuries sold to finance Covid-19 relief in the first half of 2020....
...The FT-Michigan Ross poll found that inflation remained the biggest source of stress for 80 per cent of voters, down only marginally from 82 per cent in November....
...its strict Covid-19 lockdowns....
...For Drahi, the sale is part of efforts to sell assets to chip away at a roughly $60bn debt burden at Altice, which owns operator SFR in France and others in the US, Portugal and Israel....
...Consumers bought nearly 80,000 battery-powered vehicles in January, a 19 per cent increase from the 66,000 they purchased in January 2023, according to data from Argonne National Laboratory....
...Gross gaming revenue in the city rose 67 per cent year on year to 19.3bn patacas in January, putting it at 77.5 per cent of the level during the same month in 2019, before the Covid-19 pandemic, according...
...Inflation has fallen from a high of 11.1 per cent in the UK to 4 per cent, and from 9.1 per cent to 3.2 per cent in the US....
...In early January, financial markets said there was almost an 80 per cent chance that the Federal Reserve would cut US interest rates in the first quarter and that they expected inflation to fall rapidly....
...Some conservatives in the US and beyond argue the treaty is already too far-reaching....
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