News 

Summer holiday nightmare: The pound is at a 7-year low against the euro

“That marked the strongest the euro has been against the pound, bar the flash crash, since 2010” writes Will Martin for businessinsider.com. LONDON — British holidaymakers jetting off to Europe who haven’t yet changed their money face misery, with the pound at a seven year low against the euro.The euro/pound currency cross, which is generally how the two are measured against one another, briefly rose to £0.9141 during early trade on Wednesday.The pound dropped to its lowest level since 2010 on Wednesday — excluding a very brief period during last…

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Crypto News 

Bitcoin is back above $4,000

“Bitcoin is back above $4,000 a coin on Wednesday, as the digital currency pars back losses” writes Oscar Williams-grut for businessinsider.com. Elsewhere in the crypto space, Bitcoin Cash, a new digital currency spun off from the Bitcoin network at the start of the month, is down 3.6% against the dollar to $293.00.Bitcoin fell below $4,000 late on Tuesday after a sensational rally on Sunday and Monday that saw the cryptocurrency break the $4,000 and $4,500 mark for the first time. Ethereum, the second biggest cryptocurrency by market cap after Bitcoin, is…

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UK Financial Ombudsman reports no foreign currency enquiries received from consumers in April-June 2017

“The zero such enquiries for the period in question compare to 252 foreign currency enquiries received during the whole year to March 31, 2017” reports financefeeds.com. The UK Financial Ombudsman Service reports no enquiries about foreign currency products & services were received from consumers in the quarter from April 1, 2017 to June 30, 2017, according to the latest statistics published by the body today.Consumers have been contacting the FCA mainly to verify whether firms offering binary options are regulated. Source: financefeeds.com Share This:

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China reclaims spot as No. 1 holder of Treasurys after 8-month hiatus

“A strengthening currency and growing exports can lead to a rapid accumulation of Treasurys” reports marketwatch.com. The yuan has been supported by efforts of the People’s Bank of China, its central bank, to beat off currency speculators.China’s holdings of U.S. government paper rose to $1.147 trillion, up more than $44 billion from the previous month. Source: marketwatch.com Share This:

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Crypto News 

Money Management Firm Calls Bitcoin a ‘Fad’ then Files for Bitcoin ETF

“Over the weekend, the digital currency jumped to over $4,000 for the first time, quadrupling its value since the beginning of 2017” writes unknown author for cryptocoinsnews.com. Most notable was the Winklevoss twins bitcoin ETF, which was rejected by the SEC in early March.Money management firm VanEck has filed for a bitcoin ETF despite claiming that the digital currency was a ‘fad.’ Regardless of the recent user activated hard fork (UAHF), which saw the creation of bitcoin cash, bitcoin’s value has soared. Foster concluded by saying that while the blockchain…

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Will Japan’s haven status hold up amid North Korean tensions?

“The South Korean won USDKRW, -0.14% would, of course, suffer in case of a war as the nation would face physical confrontations along its Northern border” writes Anneken Tappe for marketwatch.com. The relationship between the Japanese currency and risk aversion is based on Japan’s so-called current accounts — a broad gauge of the country’s trade in goods and services, including employee wages and income from investments. Source: marketwatch.com Share This:

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Crypto News 

Investment firm VanEck calls bitcoin a ‘fad,’ then files for bitcoin ETF

“Bitcoin and other digital currencies are a fad that has attracted the attention of programmers, speculators, and early adaptors,” Foster said” writes Evelyn Cheng for cnbc.com. “At best, digital currencies may eventually occupy some middle ground as a niche product,” he said.Many digital currency enthusiasts have called bitcoin “digital gold” and predict that a small percentage of gold’s roughly $7.5 trillion market value will flow into bitcoin, sending the digital currency’s price many multiples higher.”It is my opinion that governments will not allow digital currencies to reach the critical mass…

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Crypto News 

Bitcoin Price Flies To More Than $4,100 Over Weekend

“Two weeks ago, Bitcoin split its digital currency into bitcoin and Bitcoin Cash” reports pymnts.com. This recent bitcoin price surge comes on an all-time high of $3,000 set a week ago.Because of those confidence-boosting moves, TechCrunch speculated it drove the bitcoin price up over the weekend.Bitcoin investors were in for a wild ride over the weekend, with the cryptocurrency trading below $3,700 and then an hour later trading around $4,135.Often the bulls are pounding the table about the impending increase in the price of bitcoin, which is also aiding in…

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Crypto News 

After calling latest surge above $4,000, Standpoint’s Ronnie Moas raises bitcoin forecast to $7,500

“After bitcoin’s uneventful split into bitcoin and bitcoin cash on Aug. 1, bitcoin has soared more than 40 percent to all-time highs” writes unknown author for cnbc.com. Year-to-date change in global value of digital currencies Another digital currency, ethereum, traded 1 percent higher near $307, according to CoinDesk.Longtime stock researcher Ronnie Moas raised his price target on bitcoin by $2,500 Monday after the digital currency hit an all-time high over the weekend.”We’re in an industry that will probably go from $140 billion to $2 trillion and the bitcoin price will…

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Crypto Markets News 

Bitcoin has broken $4,000

“Elsewhere in the cryptocurrency space, Bitcoin Cash, the new cryptocurrency that was split off from bitcoin at the start of the month, is also rallying strongly” writes Oscar Williams-grut for businessinsider.my. The price of bitcoin broke through $4,000 per coin for the first time on Sunday and is posting new records on Monday.Bitcoin crossed the $4,000 mark at close to 1.00 a.m. on Sunday.Bitcoin Cash is up 2.88% to $307. The digital currency is up 6.68% to $317.49 on Monday morning. Source: businessinsider.my Share This:

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