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The Japanese Yen strengthened after US Treasury Secretary Scott Bessent warned against shorting the currency, but his expansion of US Treasury buybacks to $6 billion failed to prevent the 10-year US Treasury yield from rising to 4.836%, a new high since October 2023.
The U.S. Treasury Department announced on Wednesday (September 9) that it would raise the single-transaction long-term Treasury buyback limit to $6 billion, tripling the original size planned for last
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Former U.S. Treasury Secretary Yellen and nearly 50 economists have co-signed an amicus brief, stating that Donald Trump's invocation of the "balance of payments" clause to impose global tariffs exceeds his authority.
Former U.S. Treasury Secretary Janet Yellen and nearly 50 economists jointly submitted an amicus brief on September 9, arguing that the Trump administration's invocation of Section 122 of the 1974 Tra
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MarketWatch Analysis: Treasury Secretary Scott Bessent's Market Intervention Could Lead to Stronger Yen, Higher US Treasury Yields, Threatening Stock Market Bull Run
MarketWatch analysis indicates that the U.S. government's market intervention this summer to cap long-term interest rates and the Japanese government's efforts to prevent the yen's depreciation have l
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Donald Trump stated that the war in Iran would end immediately after the election.
Donald Trump stated that the war in Iran would end immediately after the election.
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ECB President Lagarde urges Europeans to 'choose each other' and build Europe to enhance sovereignty and growth, citing savings and investment union and digital euro
ECB President Lagarde urges Europeans to 'choose each other' and build Europe to enhance sovereignty and growth, citing savings and investment union and digital euro
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Bank of England Governor Andrew Bailey on Tuesday denied there was a "secret plan to raise interest rates," yet the pound on Wednesday still approached a two-week high of $1.3559.
Bank of England Governor Andrew Bailey explicitly denied on Tuesday at a parliamentary hearing that the central bank has a predetermined path for interest rate hikes, stating he wanted to dispel the m
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UBS expects Bank of England to hold rates at 3.75% on Sept 17, but strike a more hawkish tone due to Middle East escalation and rising energy prices
UBS forecasts the Monetary Policy Committee will repeat July's 6-3 vote split, with Huw Pill, Megan Greene, and Catherine Mann again pushing for a quarter-point hike. The bank also expects the pace of
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India's RBI to Introduce Five Currency Pairs on Retail Platform
India's central bank will add five currency pairs to its retail foreign-exchange platform, seeking to give individuals easier access to a wider range of currencies.
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Bloomberg: Despite the Argentine peso's stabilization, Argentines' obsession with the U.S. dollar remains unabated, with savers buying five dollars for every one they sell.
Bloomberg reports that Javier Milei's government has successfully stabilized the Argentine peso but has failed to end the country's savers' obsession with the U.S. dollar. Data shows that for every do
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Iran's Revolutionary Guard announced an expansion of its maritime exclusion zone, which will now extend to parts of the Gulf of Oman and the Arabian Sea.
Iran's Revolutionary Guard announced that a new maritime exclusion zone will extend from Chabahar to parts of the Gulf of Oman and the Arabian Sea, with specific coordinates to be announced later. Thi
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Rupiah's Advance at Risk as Fiscal, Rate Pressures Linger
The rupiah may struggle to extend its recent rally, as lingering concerns over spending and trade temper optimism over Indonesia’s efforts to bolster policy credibility.
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US equity futures edged higher, and the dollar held steady ahead of US-China talks.
U.S. equity index futures edged higher, with S&P 500 futures up 0.2% in early trading, ahead of the September 20 meeting in New York between Chinese Vice Premier He Lifeng and U.S. Treasury Secretary
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China slow-walks yuan appreciation as US, Europe demand trade rebalancing; yuan seen up to 30% undervalued
China slow-walks yuan appreciation as US, Europe demand trade rebalancing; yuan seen up to 30% undervalued
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Qatar PM on Sunday described US-Israel war on Iran fallout as an 'earthquake' with global shockwaves, also announcing a $38bn domestic infrastructure investment shift
Speaking at a UN General Assembly-adjacent event in New York, Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani warned against "cycles of escalation" and called for a framework where sovereignty is
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Emerging market investors are favoring local currency sovereign bonds, as surging U.S. Treasury yields diminish the appeal of dollar-denominated debt.
Emerging market investors are favoring local currency sovereign bonds, as surging U.S. Treasury yields diminish the appeal of dollar-denominated debt.
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China names Li Chenggang its top international trade negotiator ahead of US talks
China elevated Li Chenggang's title on Sunday, hours before delegations from the two countries were set to hold negotiations in New York. This move comes as US Treasury Secretary Scott Bessent is sche
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Houthis attack Saudi capital and Aramco facilities, US warns of "rapid escalation" of conflict, Saudi Arabia urgently seeks aid from multiple countries.
On September 19, Yemen's Houthi rebels launched a new round of missile and drone attacks targeting "sensitive sites" in the Saudi capital Riyadh and Saudi Aramco facilities in Yanbu. U.S. embassies in
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Yen vulnerable to sharp moves and further declines as Japan holiday reduces liquidity, investors disappointed by BOJ guidance
The yen is vulnerable to sharp moves and further declines over the next week, with a three-day holiday in Japan set to reduce trading liquidity and investors disappointed that the central bank didn’t
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Hong Kong to expand renminbi-denominated bond, gold and commodity markets, says Financial Secretary Paul Chan
Financial Secretary Paul Chan stated on Sunday that Hong Kong would expand its renminbi-denominated bond market and develop renminbi-denominated gold and commodity markets. This initiative aims to str
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Financial Times: Saudi Arabia Exits China-Led Cross-Border Currency Platform
Saudi Arabia has withdrawn from a China-led cross-border currency platform. According to the Financial Times, the Saudi central bank exited the project last year, which was one of China's efforts to d
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EQ9 Token Analysis: Project Positioning, Market Performance, and Future Development Prospects
The EQ9 (Equals9) token aims to revolutionize the traditional foreign exchange sector by providing low-cost, high-efficiency international currency management services through its Polygon-based technology platform. The project plans to transition to a proprietary chain in the future to further enhance performance. However, EQ9's current market performance faces challenges, with extremely low 24-hour trading volume, significant discrepancies in circulating market capitalization data, and severe price volatility. Investors need to be wary of its liquidity risks and closely monitor the project's subsequent technological developments and market dynamics.
GBP/USD Summary
The value of GBP/USD is a key barometer for the relative economic health of the United Kingdom and the United States. Its movements are primarily driven by the monetary policy decisions of their respective central banks, the Bank of England (BoE) and the U.S. Federal Reserve (Fed). The interest rate differential between the two economies is a significant factor, with higher rates in one country typically attracting foreign capital and strengthening its currency. Other major drivers include key economic data releases such as GDP growth, inflation rates (CPI), employment figures, and major political developments like elections or trade negotiations.
For participants in the cryptocurrency and broader macro markets, the GBP/USD pair offers crucial insights into the strength of the U.S. dollar, the world's primary reserve currency. A strengthening USD (a falling GBP/USD) can often exert downward pressure on risk assets, including cryptocurrencies like Bitcoin, which are predominantly priced in dollars. Conversely, a weakening USD may signal a "risk-on" environment, potentially benefiting digital assets. Therefore, crypto investors and macro traders closely monitor Cable's fluctuations for signals about global capital flows and shifts in market sentiment.
24H Trending
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1
Musk reposted a tweet stating that OpenAI's AI agents are conducting "self-adventurous experiments" in a "safety sandbox," even pressuring each other for "permanent death" in exchange for collective benefit.
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Houthis attack Saudi capital and Aramco facilities, US warns of "rapid escalation" of conflict, Saudi Arabia urgently seeks aid from multiple countries.
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OpenAI is in preliminary discussions with investors for a new private funding round, potentially valuing the company at over $1.2 trillion.
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NVIDIA VP: Vera Rubin Platform Achieves 30x Throughput Increase on Agentic AI Workloads
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Hong Kong to expand renminbi-denominated bond, gold and commodity markets, says Financial Secretary Paul Chan
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NVIDIA VP: Agentic AI to Boost Computing Power Demand 100-fold, Altering Traditional Scheduling Models
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Global oil shipping costs have surged to historic highs, with supertankers earning over $1.2 million per day. A South Korean shipping magnate is making a massive bet, investing $7 billion, and is set to profit handsomely.
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Musk reposted a SpaceX tweet, confirming the deployment of 27 Starlink satellites.
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Goldman Sachs: Market "pricing in 4 rate hikes" is overly pessimistic, expects only two rate hikes in this cycle.
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Big Tech uses guarantees to keep $300bn of AI exposure off balance sheets, with Wall Street facilitating cheaper funding
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