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...While the US accounts for roughly 15.5 per cent of global GDP (PPP), the dollar is involved in 88 per cent of all international currency transactions....
...Bank of America’s analysts this week pointed to the need for US companies to consider their currency exposure, too, in case the dollar gained further — which would weaken their earnings once overseas income...
...As any old-school currencies trader will tell you: buy dollars, wear diamonds....
...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....
...Major Asian currencies weakened against the dollar on Monday, with the South Korean won leading losses, down 0.27 per cent against the dollar to Won1,354.60, its weakest level since October....
...Asian currencies slid against the US dollar on Wednesday following hawkish remarks from a Federal Reserve official on Tuesday....
...this most recent currency introduction, how many currencies has Zimbabwe had in the last decade?...
...“Rising tensions between Iran and Israel can spill into even higher oil prices, all to the benefit of the dollar in the near term,” said Francesco Pesole, a currency analyst at ING....
...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....
...FTX collapsed in November 2022, leaving a hole in customer accounts worth billions of dollars....
...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....
...In the chaotic weeks after the FTX bankruptcy filing, those claims were changing hands for well under 20 cents on the dollar....
...The dollar weakened and US Treasuries rallied as traders nudged forward their bets on interest rate cuts after survey data showed business activity had cooled unexpectedly in April....
...The dollar rallied and government bonds sold off after US labour costs climbed more than expected in the first quarter of 2024, raising concerns that sticky wage inflation could delay the Federal Reserve...
...The comments were an indication of their concern at the scale of the dollar’s gains against Asian currencies after US inflation data led markets to scale back expectations of Federal Reserve rate cuts this...
...All major Asian currencies registered losses against the dollar as currency traders take into account fewer expected Federal Reserve interest rate cuts this year....
...The dollar has climbed 4.7 per cent against a basket of six peer currencies this year, while in the same period Wall Street’s benchmark S&P 500 has added 7 per cent....
...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...
...Japan’s yen crossed ¥155 per dollar for the first time since 1990 on Wednesday as US stocks edged slightly higher in a choppy trading session....
...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...
...Escalating tensions in the Middle East following Iran’s attacks on Israel and growing expectations that the Federal Reserve will delay rate cuts have boosted the US currency....
...“Fast forward to today and central bankers in Asia can’t really at least currently [count on] a weaker US dollar and [Federal Reserve] rate cuts,” said Adarsh Sinha, head of the Asia rates and currencies...
...The ZiG, which stands for Zimbabwe Gold, will have an initial value of 13.56 to the US dollar, Mushayavanhu said, after the former currency lost over three-quarters of its value this year alone to trade...
...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...
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