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...The currency weakened to as low as ¥154.42 per dollar on Monday afternoon in New York, as traders scaled back bets on rapid interest rate cuts from the US Federal Reserve following strong retails sales data...
...Tell us what you think by writing, in confidence, to money@ft.com....
...In currency markets, the strong retail sales figures boosted the US dollar index, which tracks the world’s dominant currency against six international peers....
...The S&P purchasing manager’s index, a measure of activity in the private sector, rose to 53.3 in February, up from 52.9 in January and the highest since May 2023....
...This week’s increase in US consumer price inflation — which hit a higher than expected 3.5 per cent for March — has prompted traders to increase bets that the Fed might deliver as few as one rate cut this...
...Traders are now betting the first rate reduction could come as soon as March after a sharp decline in government and corporate borrowing costs as US bond markets enjoyed their biggest monthly rally in nearly...
...The US is taking a closer look at exactly how much energy bitcoin mining in local areas in the US suck up, and trying to assess how it stacks up against directing to other uses, such as keeping people’s...
...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....
...In the next 24 hours or so, those rewards fall from 6.25 bitcoins to 3.125 bitcoins, or from $408,000 to about $204,000 by current prices....
...If you can’t trust them, you can’t trust anyone in the US financial system,” he added....
...The rally has brought its gains to 42 per cent in the first two months of this year....
...for miners for verifying a block halve to 3.125 bitcoins....
...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....
...Expectations of fewer US rate cuts have also sparked a slump in emerging market currencies against the dollar, prompting interventions by Asian central banks, including Indonesia and South Korea....
...Consumer prices rose at an annual rate of 3.2 per cent in March, down from 3.4 per cent in February, the Office for National Statistics said on Wednesday....
...On Thursday the currency reversed some of its losses from earlier in the week, after strong economic data from the US reduced expectations of imminent interest rate cuts from the Federal Reserve....
...It began the year valued at about $42,200, still far off its previous all-time high of $69,000....
...In Kenya, which recently averted a looming currency crisis, the central bank’s reserves have recovered to more than $7bn, or 3.7 months of import cover....
...The data comes in the wake of higher than expected consumer price inflation numbers for February, which showed that headline inflation increased to 3.2 per cent last month, up from 3.1 per cent in January...
...This week economic data from the US reduced expectations for interest rate cuts, leading Asian currencies to fall against the dollar....
...France’s Cac 40 was the outlier, rising 0.3 per cent, helped by strong gains for index heavyweights in the luxury sector, including Hermès. Eurozone bond yields rose, reflecting falling prices....
...Summarise in 2-3 sentences why La Rioja plans to issue “bocades” Under what conditions would the “bocades” solve La Rioja’s problems?...
...South Korea’s currency declined 0.8 per cent to trade at Won1,330.50 per dollar, the yen slid 0.3 per cent to ¥146.15, while the Australian dollar fell 0.7 per cent to US$0.66....
...But could a company trading at a revenue multiple of 1,400 suddenly trade at a multiple of, say, 3,000? Sure! Why not?...
...A 42 per cent rate will remain in place for those earning between £43,633 and £75,000 — and the £43,633 threshold will be frozen....
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