China's yuan has ousted the US dollar as the most traded currency in Russia in 2023. China's yuan has ousted the US dollar as the most traded currency in Russia in 2023.
Tags: Dollar
European Shares Gain While Dollar Weaken as Fed Signals Rate Cuts Ahead
European and US share prices rose on August 22 following Federal Reserve signals of potential interest rate cuts, while the dollar remained weak and oil prices stabilized after a recent decline.
Trump's Assassination Attempt Strengthens US Dollars and Investor Confidence
Donald Trump’s assassination attempt during a campaign rally in Pennsylvania gained a positive market reaction and heightened investor confidence in his reelection prospects.
US Dollar Drops to 3-Week Low Amid Slowing Economy
The US dollar dropped to a three-week low on Monday as data revealed a slowing economy. The US dollar dropped to a three-week low on Monday as data revealed a slowing economy with lower-than-anticipated manufacturing and construction spending figures.
Dollar Slides to Multi-Month Lows as Slower US Inflation Increases Rate Cut Expectations
The US dollar tumbled to multi-month lows on Thursday following a slowdown in US core inflation, which was its slowest pace in three years.
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The US dollar has slipped to a five-month low against the euro and several other currencies, The US dollar has slipped to a five-month low against the euro and several other currencies, driven by expectations that the Federal Reserve might soon implement interest rate cuts.
Japanese yen surged against dollar on Monday. Speculation from non-Japanese short-term currency players pushed the currency to the highest point against dollar.
Nigeria is suffering from fuel shortages as well as lack of hard currency. Four major oil companies agreed to finance the country’s $200 million fuel import along with the lack of the dollars to sustain the country’s fuel needs.
Tracking sell-off on Wall Street, Asian markets turned weaker. Renewed growth concerns and effectiveness of central bank policy have worsened the investor sentiment.
Overstock.com is making a strategic investment in Caribbean digital currency firm Bitt. The $4 million in Series A will be allocated to improve Bitt’s software as well as expanding its operation across other Caribbean countries.
After a series of setbacks, UK's Serious Fraud Office will start the third trial on Libor rigging case. Five former bankers in Barclays will stand accused as conspirators.
Many speculates why Microsoft stops accepting Bitcoin as a mode of payment for purchasing apps in its Windows Store. Users became alarmed since they can no longer add Bitcoins to their account and existing balance can no longer be refunded. A Microsoft spokesperson apologized for the incorrect information and said that it will be taken care of.
The US dollar recorded a multi-year bull run and has still enough steam to gain 10 percent further this year. All eyes are on the two-day policy meeting of US Federal Reserve beginning from Tuesday as it will set the tone for US currency.
One of China’s biggest venture capital firm, Qiming, secured its fifth US dollar venture capital fund in total of $648 million. The fund will help expand the firm’s investments in Chinese top startups in various sectors such as internet, consumer, technology, healthcare, as well as cleantech.
