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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....
...The South Korean won and Australian dollar weakened against the US dollar, while the yen is trading at ¥155.60 a dollar, its weakest level in decades....
...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....
...a strong dollar and expectations of a delay in US rate cuts....
...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....
...Japanese stocks were the only Asian equities to advance on Friday morning, as a higher than expected US inflation reading strengthened the dollar against Asian currencies....
...In currency markets, the strong retail sales figures boosted the US dollar index, which tracks the world’s dominant currency against six international peers....
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...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...
...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....
...Parity would require a further drop of almost 6.5 per cent....
...The Australian dollar dropped 0.6 per cent against the US dollar to A$0.65, and yields on the country’s two-year Treasury bill rose 0.16 per cent to 4.075 per cent. Yields move inversely to prices....
...It means that the number of coins a miner gets as a reward for completing each calculation will fall from 6.25 to 3.125....
...Currency markets continued to price in the prospect of US interest rates remaining elevated for longer than previously expected....
...Although it typically handles $6.5tn a day, it nets down outstanding payments so only around $65bn a day changes hands....
...Fed officials this week raised their forecasts for where core PCE would be by year-end to 2.6 per cent, from the previous forecast of 2.4 per cent....
...South Korea’s benchmark Kospi led declines, shedding 1.6 per cent. The won rose 0.3 per cent against the dollar to Won1,347.77, making it the only major currency from the region to do so....
...But the currency decline has been mainly driven by the gap in interest rates between Japan and the US, and analysts said Ueda was more willing to co-ordinate closely with the government to address the issue...
...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...
...Read our full range of US High School economics picks here....
...Insurer AIA led losses, shedding 4.6 per cent. Currencies also fell, with the South Korean won sliding 0.48 per cent against the dollar to Won1373.51, its weakest level since November 2022....
...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....
...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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