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...The benchmark index’s return for the week so far is 7.8 per cent. If the index holds on to gains, it will cap its strongest week since November 2022....
...In currency markets, the strong retail sales figures boosted the US dollar index, which tracks the world’s dominant currency against six international peers....
...A perceived policy of currency depreciation would doubtless incur hostile reactions from the US — particularly under another Donald Trump administration — and the EU....
...The mess surrounding Kate Middleton’s apparent disappearance from the public eye tells us absolutely nothing about bitcoin....
...“Bitcoin is going to be worth more in the future than it is today,” said Asher Genoot, chief executive of Hut 8, a US miner....
...Roger W Kirby Millbrook, NY, US...
...The three bitcoin ETFs each closed between 1.5 per cent and 1.8 per cent higher on their debut, while the ether ETFs lost between 0.5 per cent and 0.8 per cent....
...Email me at philip.stafford@ft.com Join me and my colleagues at the FT’s flagship Crypto and Digital Asset Summit on May 8-9 in London....
...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....
...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...
...It suffered the biggest drop among major currencies in the world this month, falling nearly 4 per cent. The currency has lost 8.7 per cent of its value this year....
...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...
...As of Friday afternoon, the single currency was down 1.8 per cent on the week, the biggest weekly decline since September 2022....
...Ether, the second most popular cryptocurrency, is down 8 per cent in the past week. Rival coins dogecoin and cardano are down 4 per cent and 12 per cent respectively....
...Register here for free to watch live on May 8 at 13:00-14:00 BST....
...Instead of fiat coming into cryptoland, it’s crypto being used as a currency in the real world.”...
...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....
...It later slipped back to around ¥156.8. Earlier in the day, the yen had fallen past ¥160 against the dollar, as the gulf between Japanese and US interest rates continued to pressure the currency....
...Register here for free to watch live on May 8 at 13:00 - 14:00 BST....
...Join me and fellow colleagues at the FT’s flagship Crypto and Digital Assets Summit on May 8-9 in London....
...South Korea’s currency fell 0.8 per cent against the dollar to Won1390.90....
...Increasingly the US asset manager he heads is the star around which the digital assets solar system orbits....
...Its neighbours on Mahé island include KuCoin, whose founders are under investigation by US authorities over alleged anti-money-laundering failings....
...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...
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