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...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....
...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...
...this most recent currency introduction, how many currencies has Zimbabwe had in the last decade?...
...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....
...“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...
...Asian currencies strengthened against the dollar after the finance ministers of Japan, South Korea and the US released a joint statement addressing concerns over a resurgent dollar....
...“It now seems like markets have thrown in the towel on substantial rate cuts in the US, whereas traders are pretty certain the ECB will start easing in June,” said Francesco Pesole, a currency strategist...
...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....
...“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....
...that could now be worth hundreds of millions of dollars....
...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...
...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....
...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...
...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....
...But that has driven the yen to 35-year lows against the dollar in recent months, as the Federal Reserve raised rates to combat surging inflation....
...Priced in dollars, gold typically falls when the US dollar strengthens to adjust for the fact that the currency’s rise has made the metal more expensive in other currencies....
...In currency markets, the strong retail sales figures boosted the US dollar index, which tracks the world’s dominant currency against six international peers....
...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....
...The WeWork rival will this year switch to reporting its financial results in US dollars, and expects to take a decision by June about whether to change to the American GAAP accounting standard, the company...
...Emerging market currencies fell against the dollar on Tuesday following the strong US data and have struggled to find firm footing since....
...The dollar rose to its highest level in almost five months against developed-market currencies as investors priced in fewer interest rate cuts this year....
...of fluctuations in US rate expectations”....
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