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...In November the company paid $4.3bn in penalties to US authorities after pleading guilty to criminal charges related to money laundering and violating international sanctions rules....
...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...
...There were 224,000 initial claims in the week ending January 27, up 9,000 from the previous week’s revised level. Economists polled by Reuters had expected 212,000 new claims....
...The moves came after S&P Global’s flash purchasing managers’ index for manufacturing fell to 49.9 in April, down from 51.9 in March and below economists’ forecast for a slight rise to 52....
...Cumulative average daily returns while Wall Street is closed come to 26.4 per cent, against 9.9 per cent during US trading hours, CCData said....
...Join me and fellow colleagues at the FT’s flagship Crypto and Digital Assets Summit on May 8-9 in London....
...In currency markets, the strong retail sales figures boosted the US dollar index, which tracks the world’s dominant currency against six international peers....
...Sales of new-single family homes in the US have stalled since the start of this year, as mortgage rates creep up from the multi-month lows they hit in late 2023....
...Sterling’s decline also contributed to a 0.9 per cent rise in UK stocks on Friday, as the FTSE 100, whose constituent companies draw most of their revenues in dollars, ended the day’s trading just short...
...The US Dollar Index climbed 0.5 per cent to reach 102.9, its highest level in a month, as risk appetite damped following cautious remarks from ECB officials on rate cuts in 2024....
...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....
...Currency markets continued to price in the prospect of US interest rates remaining elevated for longer than previously expected....
...In 2016 the Financial Times had revealed details of the $9.5bn fund’s operations but was assured by the group that it maintained “a rigorous policy to avoid conflicts of interest”....
...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....
...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....
...Join me and fellow colleagues at FT’s flagship Crypto and Digital Assets Summit on May 8-9 in London....
...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....
...“Trading conditions in Asia, the UK or the US saw no improvement, while trading conditions deteriorated in Europe,” the company added....
...Japanese officials have warned on multiple occasions in recent weeks that they are ready to step in to prevent excess moves in the country’s currency, which has weakened more than 9 per cent since the start...
...“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...
...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....
...BlackRock’s fund alone has received more than $9.2bn in inflows and Fidelity nearly $5.3bn....
...of fluctuations in US rate expectations”....
...So thanks a tonne Financial Conduct Authority for denying us British investors the spoils of a two-thirds gain in prices. Hopefully, you own bitcoin via other means....
...Between November 2022 and May 2023 he was also chief executive of the company, which in 2021 swung to a £1.9mn profit from a £9.2mn loss the previous year....
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