NEW YORK, Feb 28, 2024 (AFP) – The account balances of some customers of cryptocurrency trading platform Coinbase fell to zero on Wednesday, the company confirmed, as it moved to assure them that their assets were still there. Dozens of accounts had posted on social media sites including X earlier in the day, with screenshots that appeared to show their Coinbase account balance had fallen to zero. “We are aware that some users may see […]
Tag: forex
Dollar tops 150 yen for first time in a year
LONDON, Oct 3, 2023 (AFP) – The dollar rose above 150 yen on Tuesday for the first time in a year, as the Japanese currency weakened further on a mix of ultra-loose monetary policy in Japan coupled with rising US interest rates that are attracting investors to the greenback. In mid-afternoon trading, the dollar/yen rate hit 150.16, a level not seen since October 2022, before falling back. Analysts say the yen’s decline could prompt the […]
Yen sinks to 150 per dollar, lowest since 1990
Tokyo, Japan | AFP | by Katie Forster The falling yen hit 150 per dollar for the first time since 1990 on Thursday, driven down by the contrast between Japanese monetary easing and aggressive US interest rate hikes. The currency has plunged from February levels of around 115 as the Bank of Japan sticks to its longstanding ultra-loose policies, designed to encourage sustainable growth in the world’s third-largest economy. At the same time the US […]
Russia bans residents from transferring money abroad: Kremlin
Russian President Vladimir Putin on Monday banned residents from transferring money abroad as part of measures to prop up the ruble which has plummeted in value as a result of Western sanctions over Russia’s invasion of Ukraine. A decree signed by Putin also said that exporters would be required to hold at least 80 percent of revenue in rubles in a move to prop up the Russian economy. jbr/spm © Agence France-Presse
Dollar breaks 110 yen for first time since March 2020
HONG KONG, China (AFP) — The dollar broke through the 110 yen barrier Tuesday for the first time in a year as optimism about the global economic outlook and rising US bond yields see investors turn away from the safe haven Japanese unit. The greenback hit 110.18 yen in afternoon trade as investors grow increasingly confident that world growth will pick up pace this year thanks to huge stimulus spending, particularly by the United States. […]
China’s yuan sinks to weakest in 11 years amid trade tension
SHANGHAI, China (AFP) — China’s currency slid on Monday to its weakest point in more than 11 years as concerns over the US trade war and the potential for global recession weighed on markets. The onshore yuan was around 7.1425 to the US dollar in late morning Asian trading, its weakest point since early 2008, but slightly off lows reached earlier in the day. Global economic tensions have intensified in recent days with the […]
China warns US not to politicize exchange rates
BEIJING, China (AFP) — China warned the United States on Wednesday not to “politicize” the exchange rate of its currency amid a festering trade war between the two economic giants. The US Treasury declined to label China a currency manipulator in its latest semi-annual report but also called on Beijing to prevent the yuan from weakening. “We have always said here that we hope the US side will respect objective facts, market rules and […]
Turkey lira surges against dollar after Erdogan victory
ISTANBUL, Turkey (AFP) — Turkey’s embattled lira, which had lost some 20 percent in value against the dollar this year, on Monday surged some three percent in value against the greenback following President Recep Tayyip Erdogan’s decisive election victory. The lira was trading at 4.54 to the dollar, a gain in value of 2.9 percent on the day. It was trading at 5.3 to the euro, a gain in value also of 2.9 percent. Erdogan won […]
Central bank digital currencies ‘uncharted waters’: report
ZURICH, Switzerland (AFP) — The creation of digital currencies, like bitcoin, by central banks could revolutionize the global financial system but also carries significant fraud risks, the Bank for International Settlements warned on Monday. In a report, the Bank for International Settlements (BIS) said the launch of cryptocurrencies by central banks had potential benefits but could also have a detrimental impact, including exposing banking centers to a greater risk of cyber attacks. “The potential effect […]
Bitcoin charges through $14,000 as investors pile in
SINGAPORE, Singapore (AFP) — Bitcoin hit a fresh record of $14,000 Thursday as investors piled in, triggering a warning the cryptocurrency was “like a charging train with no brakes” which would inevitably slip back. It touched a new a high of $14,400 in Asian trade before slipping back to $13,900, according to Bloomberg News. The rally came just a day after the virtual currency, which has been used to buy everything , hit the $12,000 […]
Bitcoin could threaten financial stability: Fed governor
WASHINGTON, United States (AFP) — Digital currencies like bitcoin could pose a threat to financial stability as they gain wider use, a chief Federal Reserve banking oversight official said Thursday. The remarks from newly-installed Fed Vice Chairman for Supervision Randal Quarles came as bitcoin took a vertiginous dive on Thursday after skyrocketing earlier in the week to more than 10 times its value at the start of the year. Bitcoin is increasingly being embraced by Wall Street, […]
Asian share rally runs out of steam as oil falls again
HONG KONG, China (AFP) — Asia’s share rally stalled Tuesday, as a boost from Wall Street was overshadowed by renewed weakness in the price of oil. Japanese stocks were broadly flat while Shanghai and Hong Kong were down in early trade, the day after Chinese markets surged on the announcement of a new securities regulatory chief. Mace Blicksilver, the US-based director of Marblehead Asset Management, said he was “cautious” about the prospect for further gains. “I […]
