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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....
...In the next 24 hours or so, those rewards fall from 6.25 bitcoins to 3.125 bitcoins, or from $408,000 to about $204,000 by current prices....
...Roger W Kirby Millbrook, NY, US...
...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...
...of inflows has been chasing a scarce asset that will only get more scarce after this month’s quadrennial “halving” event in the bitcoin system, when the rewards for miners for verifying a block halve to 3.125...
...China’s foreign exchange reserves fell by $1,000bn to $3,000bn....
...Emerging market currencies fell against the dollar on Tuesday following the strong US data and have struggled to find firm footing since....
...This week’s increase in US consumer price inflation — which hit a higher than expected 3.5 per cent for March — has prompted traders to increase bets that the Fed might deliver as few as one rate cut this...
...In Kenya, which recently averted a looming currency crisis, the central bank’s reserves have recovered to more than $7bn, or 3.7 months of import cover....
...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...
...But could a company trading at a revenue multiple of 1,400 suddenly trade at a multiple of, say, 3,000? Sure! Why not?...
...The data comes in the wake of higher than expected consumer price inflation numbers for February, which showed that headline inflation increased to 3.2 per cent last month, up from 3.1 per cent in January...
...This week economic data from the US reduced expectations for interest rate cuts, leading Asian currencies to fall against the dollar....
...Read our full range of US High School economics picks here....
...Increasingly the US asset manager he heads is the star around which the digital assets solar system orbits....
...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....
...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....
...Australian inflation cooled in the first quarter but was slightly higher than expected, prompting a sell off in the country’s bond and currency markets on Wednesday....
...“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...
...It means that the number of coins a miner gets as a reward for completing each calculation will fall from 6.25 to 3.125....
...Chandan said tariffs would be likely to hurt the economic growth of US trading partners, weakening their currencies against the greenback....
...At the end of 2023, about 70 per cent of mortgage holders had rates more than 3 percentage points below the market rate....
...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...
...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....
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