Dollar set for weekly loss; Kiwi dollar hits 18-month high

The dollar was unable to shake off the previous session’s lows on Friday and was set for a weekly fall, losing out to the Japanese yen in particular, which hit a seven-week high as investors sought the safe-haven currency. Data released on Thursday showed that the number of people in the Un

Bruised dollar may bounce if U.S. election gets chaotic

Some investors are betting that a bout of election-induced volatility may be just the thing to give the battered dollar a reprieve from its months-long decline. The dollar stands near its lowest level in 16 months after falling more than 9% from its March peak on lower U.S. yields and expectation

Pound continues to slide on fears of a no-deal Brexit

Sterling fell more than 1 per cent against the dollar on Tuesday as fears grew that Britain was preparing to undercut its Brexit divorce treaty and torpedo trade talks with the European Union. The latest round of negotiations started on Tuesday, with Britain warning Brussels that it was ramping u

Turkish Lira near Record Low, Economy Shrinks by Nearly 10%

The lira hovered near record lows on Monday as data showed the Turkish economy shrank at its fastest pace in more than a decade due to the COVID-19 pandemic, while Asian currencies firmed following upbeat services sector figures from China. The lira eased 0.2% to 7.3511 against the dollar, tradin

Dollar on the backfoot again as economic clouds gather

 The dollar was on the defensive against most currencies on Friday after a rise in US jobless claims and a dip in Treasury yields dampened the appeal of holding the greenback. The yuan jumped to a seven-month high against the dollar, showing that even US-Sino diplomatic tension was not enoug

Dollar loses out and yuan soars amid doubts about US economy

The US dollar was on the defensive against most currencies on Friday after a rise in American jobless claims and a dip in Treasury yields dampened the appeal of holding the greenback. The Chinese yuan jumped to a seven-month high against the dollar, showing that even the US-China diplomatic tensi

Bitcoin's rally may see it rise above $12,000

Bitcoin’s recent run higher has brought out a lot of old predictions – and some new ones – about the future of crypto prices. The largest cryptocurrency has had quite a 2020, where after dipping below $4,000 (Dh14,680) it’s marched higher and is now bouncing around in the

US seizes digital currency accounts used by militant groups

WASHINGTON - The Justice Department has seized millions of dollars from cryptocurrency accounts that militant organizations abroad, including Al-Qaeda and Daesh, relied on to raise money for their operations, officials announced Thursday.The Trump administration said the groups used the accou

WEEKLY ENERGY RECAP: Weak dollar supports crude fightback

Oil prices advanced to their highest level since early March, hovering near five-month highs.  Brent crude rose to $44.40 per barrel, while WTI also gained to $41.22. The year-to-date price average for Brent is $40.38. Among the reasons for the weekly gain was the the larger than expected dro

Turkey Starts Tightening Credit as Lira Hits New Lows

Turkey’s central bank tightened some credit channels on Friday as the lira plumbed new lows and sources said the authorities had signaled that more such backdoor policy steps would be taken to curb a selloff that began two weeks ago. The currency is down nearly 20% versus the dollar this year

As dollar slides, some investors fret about its status as world's reserve currency

Some investors are worried the U.S. response to the coronavirus pandemic is dealing a body blow to the dollar, potentially accelerating what has so far been a slow erosion in the greenback’s status as the world’s dominant reserve currency.Investors and analysts, including billionaire h

Tether whales move over 300,000,000 USDT in a single day

Tether, the world’s most valuable stable coin by market capitalization and fourth-largest crypto asset by market value, has been experiencing high volatility in its market lately. The latest development is Tether whales moving over 300 million USDT  between July 30 and July 31 in over

Decline in US dollar accelerates

An accelerating decline in the US dollar is reverberating around the world, adding fuel to a global momentum rally that has boosted prices for everything from technology stocks to gold. The US dollar index, which measures the greenback against six other major currencies, is down around 9 percent fr

Saudi Real Estate Refinance Co signs 3 billion riyals deal with pension agency

Saudi Real Estate Refinance Co (SRC), the Saudi equivalent of U.S. mortgage finance business Fannie Mae, said on Sunday it has agreed to buy a mortgage portfolio worth over 3 billion riyals ($799.8 million) from the Saudi Public Pension Agency (PPA). “The deal provides liquidity to the real e

Egypt’s net foreign reserves recover slightly to $38.2 bln

Egypt’s net foreign reserves recovered some ground lost during the coronavirus outbreak, rising to $38.2 billion in June from $36 billion in May, the central bank said on Tuesday. Foreign reserves have dropped since March from a high of more than $45 billion, as investors pulled cash from eme

Lebanese pound slides to new lows, passing 6,000 to the dollar

Lebanon’s pound currency fell to new lows on Tuesday, trading above 6,000 to the dollar on a parallel market, according to market participants, as a severe dollar crunch further eroded its value.President Michel Aoun said earlier this month that the central bank would begin using limited dolla

Iran’s currency hits lowest value ever against the dollar

Iran: Iran’s currency has dropped to its lowest value ever at 190,000 rial for each dollar amid severe US sanctions against the country.The Iranian currency has tumbled from a rate of 32,000 rials to $1 at the time of Tehran’s 2015 nuclear deal with world powers.The rial unexpectedly ral

When did the dollar cease to be a safe haven?

The US 30-Year Treasury bond rose nearly seven points on Friday, the most since 2009, as investors continued to flee risk assets and buy government debt. Ten-year US inflation-indexed government bonds now yield negative 0.57%, less than Japanese government debt, vs positive 0.80% a year ago. Never i

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