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...In currency markets, the strong retail sales figures boosted the US dollar index, which tracks the world’s dominant currency against six international peers....
...“Bitcoin is going to be worth more in the future than it is today,” said Asher Genoot, chief executive of Hut 8, a US miner....
...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....
...As of Friday afternoon, the single currency was down 1.8 per cent on the week, the biggest weekly decline since September 2022....
...In reality, a resumption of the currency wars of the 2000s and 2010s is unlikely to do much to reduce the US deficit nor undermine the dollar’s global role in bank funding, payment systems and reserves....
...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...
...this most recent currency introduction, how many currencies has Zimbabwe had in the last decade?...
...Join me and fellow colleagues at the FT’s flagship Crypto and Digital Assets Summit on May 8-9 in London....
...South Korea’s currency fell 0.8 per cent against the dollar to Won1390.90....
...The beta of ETF inflows — in units of $bn — has been ~0.08. Taken at face value, this suggests that $1bn of inflows leads to ~8% returns for Bitcoin....
...Email me at philip.stafford@ft.com Join me and my colleagues at the FT’s flagship Crypto and Digital Asset Summit on May 8-9 in London....
...It is followed in third spot by the Singapore-based logistics and transportation company ISO Tank Management, which has a 286 per cent CAGR....
...Ether, the second most popular cryptocurrency, is down 8 per cent in the past week. Rival coins dogecoin and cardano are down 4 per cent and 12 per cent respectively....
...Hong Kong’s stock market led gains in Asia on Tuesday afternoon, with a state-owned mainland bank notching the largest gains....
...The yen weakened 0.8 per cent against the dollar to ¥150.36 for the day....
...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....
...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...
...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....
...US retail sales data was stronger than expected, making interest rate cuts from the Federal Reserve less likely and leading to the US dollar strengthening against Asian currencies....
...Roger W Kirby Millbrook, NY, US...
...The renminbi has weakened in recent days in line with other Asian currencies....
...Email me at philip.stafford@ft.com Join me and fellow colleagues at FT’s flagship Crypto and Digital Asset Summit on May 8-9 in London....
...Stronger than expected US employment data released on Friday has reduced the likelihood of imminent rate cuts from the Federal Reserve, strengthening the dollar....
...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....
...Join me and fellow colleagues at FT’s flagship Crypto and Digital Assets Summit on May 8-9 in London....
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