News 

Japan official urges caution over Trump’s complaint on strong dollar

“At the meeting, Japan asked China for clarification of its yuan currency policy, seeking factors behind its depreciation” writes Tomohiro Ohsumi for cnbc.com. The U.S. president also lamented the strength of the dollar and accused the European Union and China of manipulating their currencies.Aso voiced concerns at the G20 that acceleration of monetary policy normalization in advanced economies could weaken emerging market currencies and cause capital outflows from countries such as China.That could make Japan vulnerable to criticism of being a currency manipulator as it remains on the U.S. Treasury’s…

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News 

US dollar falls as Trump accuses ‘China, European Union and others’ of manipulating their currencies

“The U.S. and EU have long had a cooperative trading arrangement, with the European currency traditionally running well ahead of the greenback” writes Jeff Cox for cnbc.com. It is also unusual for a president to openly critique monetary policy, though Trump said he is not concerned by perceptions that his comments could compromise the Fed’s independence.He estimated that currency imbalances were costing the U.S. $150 billion with European Union nations.”In China their currency is dropping like a rock and our currency is going up, and I have to tell you…

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Crypto News 

UK Will Lead in Crypto-Blockchain Space: Report

“BOE Governor Mark Carney criticized bitcoin and other digital currencies, saying bitcoin has failed as a viable currency and as a store of value” writes Nathan Reiff for investopedia.com. DAG Global CEO Sean Kiernan believes that the traditional financial world of the U.K. is primed to integrate with the digital currency space.He suggests that “the U.K. is a major global financial hub and in recent years has become a fintech leader as well.In order for the study above to come to pass, regulators’ opinions on digital currencies will likely have…

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Crypto News Regulators 

Fed Chairman Powell says cryptocurrencies present big risks to investors

“Bitcoin, the world’s most popular cryptocurrency, traded 1.5 percent higher at $7,430.01 on Wednesday, according to data from CoinDesk” writes Yuri Gripas for cnbc.com. The head of the Federal Reserve raised concerns about cryptocurrencies on Wednesday, saying they present serious risks to investors.The Fed chairman also said cryptocurrencies are not real currencies because they have no intrinsic value.”There are investor and consumer protection issues as well,” Powell said in front of the House Financial Services Committee.Powell previously commented on crypto last November, when he said that a drop in cryptocurrency…

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Crypto News 

Special Counsel: GRU Officers Used Bitcoin to Further DNC Hack Efforts

“The court filing of the charges says the group used bitcoin extensively, including mining the crypto, to try masking their activities” reports bitsonline.com. The charges indicated the bitcoin arm of the 12 agents’ activities became something of a sweeping operation: The filing also went on to say that the dozen officers had used both mining and cryptocurrency exchanges to attain more bitcoin. Source: bitsonline.com Share This:

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Futures News Stocks 

Stocks, commodities consolidate after latest trade war jolt

“The markets had some time to digest the latest trade war developments and are poised to begin consolidating” writes Midwest Communications Inc for 95kqds.com. The dollar index against a basket of six major currencies was steady at 94.765 after gaining 0.6 percent overnight.TOKYO (Reuters) – Stocks and commodities recovered slightly on Thursday as markets tried to consolidate from the previous session’s steep losses when fears of an escalation in the U.S.-China trade war jolted investor sentiment.Pointing to a moderately higher open for Wall Street shares later in the day, S&P…

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Crypto Markets News 

Crypto Markets Fall Considerably, Market Cap Reaches Local Low

“According to Coin Telegraph, the fall, which came after a week of relative stability, brought the total market cap for the digital currency industry to monthly low levels” writes Nathan Reiff for investopedia.com. On Tuesday, market cap for the industry fell to a low of about $253 billion.On Tuesday, July 10, the cryptocurrency market received yet another jolt which temporarily saw 19 of the top 20 coins in decline.Unsurprisingly, then, ethereum has fared similarly to the largest digital token by market cap.With other coins moving in a similar pattern, the…

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News 

Major currencies in holding pattern ahead of US tariff deadline, jobs data 

“The United States is due to begin collecting tariffs on $34 billion in Chinese goods at 0401 GMT on Friday” writes unknown author for cnbc.com. Major currencies trod water early on Friday as investor caution prevailed ahead of Washington’s implementation of its threatened tariffs on Chinese goods and the U.S. jobs report due later in the day.”As Wall Street’s gains have shown, the markets have been able to price in the tariff implementation for the most part.But there is always the risk of President Trump tweeting something out of the…

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News 

Major currencies in suspense before Sino-US tariff deadline, yuan steady

“Major currencies were on tenterhooks on Thursday on the eve of Washington’s deadline to impose tariffs on Chinese imports while the yuan held steady after the central bank this week sought to stem its recent tumble” writes Seongjoon Cho for cnbc.com. Given that, the yuan may stay firm for now,” he said.The dollar traded at 110.48 yen, off a five-week high of 111.14 on Friday. Source: cnbc.com Share This:

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