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...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...
...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....
...In currency markets, the strong retail sales figures boosted the US dollar index, which tracks the world’s dominant currency against six international peers....
...Roger W Kirby Millbrook, NY, US...
...Join me and my colleagues at the FT’s flagship Crypto and Digital Assets Summit on May 8-9 in London....
...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...
...We saw that clearly earlier in April as an elevated US dollar, driven to a six-month high against a basket of other currencies by a repricing of US interest rates, exposed pockets of currency stress in Asia...
...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...
...The greenback, which moves with interest rate expectations, fell 0.4 per cent against a basket of six peer currencies....
...The core inflation equivalent rates were 2.9 per cent in Sweden and 2.7 per cent in the Eurozone....
...Instead of fiat coming into cryptoland, it’s crypto being used as a currency in the real world.”...
...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....
...Join me and fellow colleagues at the FT’s flagship Crypto and Digital Assets Summit on May 8-9 in London....
...Increasingly the US asset manager he heads is the star around which the digital assets solar system orbits....
...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”....
...Employment costs for civilian workers in the US increased at a seasonally adjusted rate of 1.2 per cent in the three months to March, up from 0.9 per cent in the previous quarter....
...The chief purpose of the intervention, said currency analysts, was not just to push the yen higher, but to encourage investors to ditch bearish bets that had been placed against the Japanese currency in...
...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 biggest loser was Nestlé India, which fell 2.9 per cent....
...Join me and fellow colleagues at FT’s flagship Crypto and Digital Assets Summit on May 8-9 in London....
...Emerging market sovereign bonds denominated in foreign currencies — mainly the dollar — and holding a triple B “junk” rating or lower have delivered a 4.9 per cent total return for investors this year....
...Currency weakness outside the US is not straightforwardly bad. It can, for example, help exports. Ironically, Japan spent years in the past two decades trying to push the yen down, not up....
...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...
...Read our full range of US High School economics picks here....
...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...
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