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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....
...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...
...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...
...In currency markets, the strong retail sales figures boosted the US dollar index, which tracks the world’s dominant currency against six international peers....
...US-based International Paper has agreed to buy UK competitor DS Smith in a £7.8bn deal, trumping a bid from London-listed Mondi as consolidation across the paper and packaging industry accelerates....
...Last year Marathon earned 7.7 per cent of its full-year net income from transaction fees, up from 1.3 per cent in 2022. It’s almost inevitable that ratio will rise substantially in the coming years....
...The US currency strengthened by 1.7 per cent against a basket of six currencies since Monday, its best weekly performance since September 2022, as traders reversed bets on early interest rate cuts by the...
...With bitcoin up 39 per cent in a month, some optimism around a halving due in April has probably been pulled forward, though it’s difficult to separate this effect from spot-ETF hype and traditional demand-side...
...The US group has drawn in $1.7bn to date....
...It suffered the biggest drop among major currencies in the world this month, falling nearly 4 per cent. The currency has lost 8.7 per cent of its value this year....
...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....
...The price has surged since US regulators in January approved spot bitcoin exchange traded funds issued by Wall Street stalwarts including Fidelity and BlackRock, the world’s largest asset manager....
...“Our payables denominated in foreign currencies have increased significantly in recent years, primarily as a result of our inability to source foreign currency to repay our suppliers and other providers...
...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 currency weakened 0.7 per cent to trade at ¥154.28 as traders scaled back their bets on rapid interest rate cuts from the US Federal Reserve, strengthening the greenback....
...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....
...Invesco’s US product will waive its fees for six months or when it reaches $5bn, at which point it will charge 0.39 per cent — the same as the newly announced price on its European product....
...Leaders after 11 rounds (of 14): Nepomniachtchi (Russia) 7, Gukesh Dommaraju (India), and Nakamura (US) 6.5, Fabiano Caruana (US) 6....
...Increasingly the US asset manager he heads is the star around which the digital assets solar system orbits....
...0.8 per cent this year, up from a previous forecast of 0.7 per cent in November....
...The firm’s Wise Origin Bitcoin Fund will charge 0.39 per cent, compared with 0.8 per cent proposed by Ark and 21Shares as well as Valkyrie, according to an updated registration statement posted last week...
...Second and third on the list are Venezuela (0.8 per cent of GDP) and Moldova (0.7 per cent). Tax haven use is common in both crypto and tradfi, of course....
...meme, while BlackRock plans to project bitcoin ETF ads on buildings in major US cities....
...Most likely, though, being right on the Japanese currency will not be about Japan but rather what happens in the US and with global investor sentiment....
...Cook said the Vision Pro launch in the US would be followed by “expansion to other countries later this year”....
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