Cryptocurrency miners, including HashCow and BTC.TOP, have halted their China operations after Beijing intensified a crackdown on bitcoin mining and trading, hammering digital currencies amid heightened global regulatory scrutiny of them. A State Council committee led by Vice Premier Liu He announced the crackdown late on Friday – the first time the council has targeted…
The dollar stood near its lowest level in three months against a resurgent euro, struggling for traction as investors pared earlier bets the U.S. Federal Reserve may soon be ready to taper its stimulus. The dollar index, measuring the greenback against a basket of six currencies, was hovering at 90.027 , a tad above a…
China’s yuan inched higher on Friday and looked set for a marginal weekly gain against a weaker dollar as investor concerns about tapering talk by the U.S. Federal Reserve eased. The dollar jumped briefly early in the week after minutes of the last Fed meetin…
Share to FacebookShare to TwitterShare to LinkedinTopline Chinese financial officials announced Tuesday that the country would crack down on financial institutions conducting cryptocurrency business or offering related services in light of the market’s recent volatility, marking another blow to the nascent market reeling from one of its biggest sell-offs ever after booming institutional adoption helped…
New Zealand on Thursday lifted welfare benefit rates and promised billions of dollars more towards addressing rising inequality in its annual budget, as it predicted smaller deficits and a faster economic recovery from COVID-19.
The dollar gained ground on Wednesday, snapping a four-day losing streak and bouncing off a multi-month low following the release of the minutes from the Fed’s most recent monetary policy meeting. In those minutes, a number of members of the U.S. Federal Reserve’s Federal Open Market Committee (FOMC) said that should the economic recovery continue…
Gold prices on Tuesday rose to their highest in more than three months as a weaker U.S. dollar and grwoing inflationary pressure lifted bullion’s appeal as an inflation hedge. FUNDAMENTALS * Spot gold was up 0.2% at $1,868.89 per ounce by 0101 GMT, after hitt…
Share to FacebookShare to TwitterShare to LinkedinBitcoin and cryptocurrency investors are still reeling from a week that’s left the crypto market $300 billion lighter. The bitcoin price moved sharply lower this week, dragging down the wider $2.2 trillion cryptocurrency market, after Tesla TSLA billionaire Elon Musk announced his company would scale back its bitcoin ambitions—at…
The dollar edged higher on Monday as new COVID-19 restrictions in Asia and mixed economic data in China encouraged investors to stick with safer currencies. The euro fell marginally while other major currencies remained in tight ranges in a quiet start to the week. Bitcoin skidded to a three-month low after Tesla Inc (TSLA.O) boss…
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