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Hedge fund bets on US dollar weakness hit highest level in nearly a year

Hedge funds turned negative on the US dollar in the days before the Federal Reserve met this week, trades that would have been offside if held a day longer when the dollar rallied. Leveraged funds, a proxy for hedge funds, were net short US dollar index futures by 15,434 contracts in the week to the […]

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Bitcoin is like Tulipmania, says ECB vice-president

One of the eurozone’s most senior central bankers has waded into the debate over bitcoin, dismissing the cryptocurrency as “an instrument of speculation” and saying its sharp rise in value was akin to the 17th century tulip craze. The views of Vítor Constâncio, the vice-president of the European Central Bank, echo those of JPMorgan Chase […]

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Sterling bounces back as investors digest May’s speech

The pound rebounded from the lows of the day, trimming its loss against the dollar to less than 0.2 per cent, as investors mulled remarks from prime minister Theresa May. Sterling was down 0.14 per cent in recent trade at $1.3560, well above Friday’s trough of $1.3490, but still a bit below the earlier highs […]

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Age-old task of balancing books is top of Ghana’s to-do list

Fortune seems to have smiled on Ghana’s new administration in its first months in office. Crops have been good, more oil has come on stream, export earnings have risen, imports have slowed and the currency has steadied. The Ghanaian cedi has been a baro­meter for economic underperformance in recent years. When it was last redenominated […]

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Asia markets on edge after N Korea bomb threat

September 22, 2017 by Edward White in Hong Kong Friday 03:45 BST What you need to know North Korea considers H-bomb detonation in Pacific Risk saps Asia equities Investors switch back to havens Europe eyes May’s speech, German election Overview Markets were on edge on Friday after North Korea ratcheted up geopolitical tension in the […]

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Dollar wane continues post Fed meeting; Euro, pound muted

The dollar continued to retreat on Friday, paring back gains from a bump on Wednesday after the Federal Reserve confirmed it would begin shrinking its balance sheet. In the immediate aftermath comments from Fed chair Janet Yellen, the dollar index — a measure of the US currency against a basket of peers — hit 92.70, […]

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Shortlived dollar bounce reveals lack of faith in bulls

Investors can debate all they like whether Wednesday’s Federal Reserve meeting was hawkish and about the timing of further interest rate tightenings. One point looks unarguable — the market is in no mood for a sustained dollar rally. The portents for a dollar bounce had looked favourable in the market’s immediate response to Fed chair […]

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Fed can't feed the dollar beast

September 21, 2017 Financial Times foreign exchange correspondent Roger Blitz talks to experts on the currencies market about the week ahead, looking at the global political and economic factors driving the world’s largest market. A hawkish Federal Reserve pushed the dollar higher, but investors stopped short of igniting a full-throttle greenback rally. That is because […]

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US stock futures little changed, gold slips as markets digest Fed

US stock-index futures were little changed from record levels on Thursday while gold prices fell after the Federal Reserve left the door open to an additional rate rise this year. S&P 500 futures were down 0.06 per cent to 2,503.75. Dow Jones Industrial Average futures were little changed at 22,369, while Nasdaq 100 futures were […]

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Rise of an ‘Asiadollar’ market or temporary boom?

Mention the creation of the eurodollar market these days and be prepared to feel like a financial fossil. International markets as we know them are so established that referring to their development from dollars held overseas in the 1960s feels quaint. But the reason to bring up such a piece of ancient history is to […]

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