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...Bitcoin trading has leapt this year following the US launch of ETFs tracking the cryptocurrency....
...Asian currencies dropped against the dollar on Tuesday following stronger than forecast retail sales data in the US, which further reduced the likelihood of imminent interest rate cuts by the Federal Reserve...
...In currency markets, the strong retail sales figures boosted the US dollar index, which tracks the world’s dominant currency against six international peers....
...One way to see this is that other currencies have weakened against the dollar in a similar way as the yen. The US dollar index is up 3 per cent this year....
...Unlike the US, Britain — a self-proclaimed “hub for digital assets” — doesn’t let its citizens buy spot bitcoin ETFs, even if exchange traded notes for professional investors are on the way....
...Roger W Kirby Millbrook, NY, US...
...The dollar’s latest move against the yen followed stronger-than-expected data for US inflation in March, which pushed out market expectations for the timing of US interest rate cuts and sent bond yields...
...Markets have been testing the PBoC’s linchpin daily fixing of the renminbi against the US dollar by pricing the currency at the lower end of a band that is allowed to move up to 2 per cent in either direction...
...The price continued to be depressed as the global trading day progressed and bitcoin was down 7.2 per cent at the point US markets opened....
...to apply downward pressure on the Japanese currency....
...a strong dollar and expectations of a delay in US rate cuts....
...US-based Cleanspark held more than 5,000 bitcoins at the end of March, up 2,400 per cent on the same month a year ago....
...The IMF said on Tuesday that the US economy was on track to grow 2.7 per cent in 2024 — more than triple the pace of the eurozone....
...The US Federal Reserve’s preferred measure of inflation is expected to show no progress was made in reducing price growth in February, underscoring how much work the central bank still has to reach its 2...
...The mess surrounding Kate Middleton’s apparent disappearance from the public eye tells us absolutely nothing about bitcoin....
...The shift in sentiment helped push the spread — or gap — between benchmark 10-year US and German government borrowing costs to 2.17 percentage points, its highest level since 2019....
...Its neighbours on Mahé island include KuCoin, whose founders are under investigation by US authorities over alleged anti-money-laundering failings....
...Japan’s Topix slid 2.2 per cent. The yen continued to strengthen against the dollar, rising 0.05 per cent to ¥147.00 as traders priced in forthcoming interest rate cuts from the US central bank....
...The Japanese currency weakened 0.3 per cent to ¥155.32, continuing a slide against the dollar as the US economy proves robust despite heightened borrowing costs....
...Read our full range of US High School economics picks here....
...Escalating tensions in the Middle East following Iran’s attacks on Israel and growing expectations that the Federal Reserve will delay rate cuts have boosted the US currency....
...Egypt secured a deal to more than double its IMF bailout to $8bn after the country allowed its currency to drop to a record low against the US dollar, unlocking support to avert its worst economic crisis...
...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....
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