Amidst growing economic uncertainties, Peter Schiff, a renowned investment strategist and economist, has voiced a compelling prediction: central banks around the globe are gearing up for a transition back to a gold standard. This assertion sheds light on the shifting dynamics of the world’s financial system and raises questions about the future of the U.S. […]
To the casual observer, it seemed like the long-cherished dream of a new single currency for East Africa had come to fruition. An account on X, called “Government of East Africa”, complete with a grey tick suggesting it was the real deal, released an image of a specimen note worth five sheafras, featuring a coat […]
By Pete Schroeder WASHINGTON (Reuters) – Federal Reserve Chairman Jerome Powell significantly downplayed the possibility of the central bank issuing its own digital currency, and said if it ever came to pass, the government would play a limited role. Testifying before Congress Thursday, Powell said policymakers were “nowhere near” taking action on adopting such a […]
The Egyptian pound has slipped sharply against the dollar after the Central Bank of Egypt raised its main interest rate and said it would allow the currency’s exchange rate to be set by market forces. The measures were meant to combat inflationary waves and attract foreign investment as the country experiences a staggering shortage of […]
The NBU has reduced its forecast for Ukraine’s international currency reserves by the end of 2024, the bank stated in a press conference. “International assistance will remain the main source of capital inflows to the country in the future.” At the same time, NBU notes that future assistance will be enough to maintain a sufficient […]
Few people in modern history have fallen faster than FTX Trading Ltd. Founder Sam Bankman-Fried, who went from a financial genius to a federal prisoner when his cryptocurrency exchange failed. Perhaps the most obvious reminder of that for Bankman-Fried is the alternative currency he has been reduced to trading in the federal penitentiary: canned mackerels. […]
(Bloomberg) — When President Javier Milei defended the adoption of the dollar through a “free competition of currencies” in Argentina, few foresaw a brand new legal tender coming out of the middle of the country. Most Read from Bloomberg The legislature of La Rioja, a small landlocked province known for its olives, approved the creation […]
USD/JPY Forecast Video for 12-01-2024 US Dollar vs Japanese Yen Technical Analysis And as you can see, the US dollar has rallied again against the Japanese yen. As we have seen quite a bit of noisy behavior, we initially pulled back to that 145 yen level where I thought we would see support and that’s […]
Global Currency Holiday makers can hardly have failed to notice 2023 was a stellar year for the pound. Of the world’s major currencies, sterling was a top performer. Every £100 taken abroad would have purchased almost $121 at the start of the year but buys just over $125 now. That is not a bad performance […]
China has suspended a US$6.5 billion currency swap agreement with Argentina, and the freeze remains in effect until President Javier Milei demonstrates a clear intention to engage with Beijing, Argentine media have reported. News of the move comes just 10 days into the tenure of the new president, who campaigned on breaking ties with China, […]