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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....
...Indonesia’s central bank unexpectedly raised its benchmark interest rate by 0.25 percentage points to 6.25 per cent on Wednesday, in a bid to support the sliding rupiah currency....
...Wage growth for job changers accelerated from 7.6 per cent in February to 10 per cent in March, which could cause trouble for policymakers trying to tame inflation....
...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....
...a strong dollar and expectations of a delay in US rate cuts....
...Japan’s benchmark Topix climbed 0.6 per cent in early trading, while Hong Kong’s Hang Seng index shed 1.6 per cent....
...In currency markets, the strong retail sales figures boosted the US dollar index, which tracks the world’s dominant currency against six international peers....
...There are about 6,300 tokens issued weekly by bitcoin but the ETFs have bought around 50,000 coins in that period. QED....
...The franc was the strongest-performing major currency of 2023 and has hit Switzerland’s exporters such as Roche, which makes most of its sales in the US....
...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....
...“It now seems like markets have thrown in the towel on substantial rate cuts in the US, whereas traders are pretty certain the ECB will start easing in June,” said Francesco Pesole, a currency strategist...
...Australian inflation cooled in the first quarter but was slightly higher than expected, prompting a sell off in the country’s bond and currency markets on Wednesday....
...Currency markets continued to price in the prospect of US interest rates remaining elevated for longer than previously expected....
...Bitcoin prices are at fresh record highs in many currencies. In dollars the cryptocurrency is up more than 40 per cent over the past month. The $69,000 intra day high set in 2021 is within reach....
...“Putting $50bn to $70bn or greater at risk, on a daily basis, in the world’s major currencies should be a significant concern,” warned Efama in a paper published on Thursday....
...The inflows into 11 new bitcoin exchange traded funds that received US regulatory approval in January went into reverse this week....
...“The BoI did a pretty good job defending levels beyond 4.00 per US dollar and the disclosure of central bank FX [currency] intervention firepower managed to suppress speculative short shekel flows,” said...
...Stock markets in Asia fell on Wednesday as traders priced in the possibility that the US Federal Reserve would be slower to cut rates than previously expected....
...Asian markets declined on Friday with the exception of Japan, as traders reacted to the increased likelihood of fewer interest rate cuts in the US....
...Bitcoin rose as much as 12.6 per cent to hit $63,968 on Wednesday, before falling back to about $60,000. The rally has brought its gains to 42 per cent in the first two months of this year....
...The pound climbed 0.6 per cent to a seven-month high of $1.2893 against the US currency on Friday, before paring gains to end the week at $1.2857....
...However, the monthly rate fell to 13.2 per cent on average in February from a 20.6 per cent rise in January — a sharper decline than most economists expected....
...Coinbase’s attempt to kick-start its institutional business came only three weeks after US regulators approved the first bitcoin exchange traded funds, a move that was expected to help reshape trading in...
...Nor is the US the only country fretting....
...K33 estimated that 843,000 of those bitcoins under management were in the control of US-based investment firms, if US futures-based ETFs were included in the calculations....
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