Posted by Tom on January 23, 2018

The dollar is turning in a mixed performance against its major rivals Monday afternoon. The buck is up slightly against the Japanese Yen, but is down against the Euro and the British pound.
The lack of U.S. economic data is keeping some investors on the sidelines at the start of the new trading week. However, the main focus among investors is the standoff in Washington on the third day of the government shutdown.

Posted by Tom on January 18, 2018

The pound was higher against its major counterparts in the European session on Wednesday, after the Bank of England policy maker Michael Saunders said that the U.K. labour market would possibly tighten further this year, lifting pay growth and triggering modest hike in interest rates "over time."
The tightening labor market and rising recruitment difficulties is set to lift pay growth this year a bit above the recent subdued trends, Saunders said.

Posted by Tom on January 17, 2018

The euro came under pressure against its major opponents in early European deals on Tuesday, after a report showed that Berlin's SPD section has voted against the proposal for formal coalition talks to form a grand coalition with Angela Merkel's conservative party.
German news website Spiegel reported that skepticism towards another grand coalition is high within the SPD and the state of Saxony-Anhalt and Berlin's SPD section have voted against the proposal of coalition negotiations with the CDU and CSU.

Posted by Tom on January 17, 2018

The pound dropped against its major counterparts in early European deals on Tuesday, following a data showing a slowdown in UK inflation in December led primarily by air fares.
Data from the Office for National Statistics showed that inflation eased to 3 percent in December from 3.1 percent in November. The rate came in line with expectations.
The 3.1 percent logged in November was the fastest since early 2012. The central bank targets 2 percent inflation.
Month-on-month, consumer prices advanced 0.4 percent, as expected, in December.

Posted by Tom on January 16, 2018

Indonesia's central bank issued a warning against cryptocurrencies on Saturday, saying they were highly risky, and joining its counterparts in other countries in raising concern over the excessive price surge in the unregulated digital currency market.
"Virtual currencies, including bitcoin, are not recognized as legitimate instrument of payment, therefore not allowed to be used for payment in Indonesia," the Bank Indonesia said in a statement.

Posted by Tom on January 13, 2018

The dollar is losing ground against all of its major rivals Friday afternoon. The losses are more pronounced in comparison to its major European rivals after the developments of the last few days.

Posted by Tom on January 13, 2018

US money transfer giant MoneyGram struck a deal with the blockchain-based payment settlement company Ripple to pilot the latter's native currency XRP in MoneyGram payment flows.
The price of XRP, popularly known as Ripple, surged as much as 15 percent on the news on Thursday, when most major currencies were down due to fears of a severe crackdown by South Korean authorities.

Posted by Tom on January 10, 2018

JP Morgan Chase Chairman and CEO Jamie Dimon has backtracked on his earlier comment that Bitcoin is a fraud.
During a banking conference in Saudi Arabia in September, Dimon had caused a stir when he called Bitcoin a fraud and said he would fire any JP Morgan trader if they dealt with the most prominent cryptocurrency.
In an interview with FOX Business' Maria Bartiromo on Tuesday, Dimon said, "I regret making them. The blockchain is real." He said the initial coin offerings, or ICO's, must be viewed "individually".

Posted by Tom on January 10, 2018

The U.S. dollar strengthened against its most major counterparts in the European session on Tuesday, amid hopes that the Federal Reserve will continue to stick with its pace of rate hikes this year.
Expectations are that the Fed could raise rates three times this year, with many investors believing that the first could happen in March.
Fed funds futures are pricing in a 61.6 percent chance for a quarter-point rate increase to 1.50 percent - 1.75 percent in March, according to CME.

Posted by Tom on January 06, 2018

The dollar is turning in a mixed performance against its major rivals Friday afternoon, but remains little changed overall. Traders were confronted by a deluge of economic data at the end of the holiday shortened trading week, but their focus remained on the all important U.S. jobs report.
After reporting a bigger than expected jump in employment in the previous month, the Labor Department released a report on Friday showing employment in the U.S. increased by much less than anticipated in the month of December.


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