LONDON—The euro dipped on Monday after a surge last week that followed a hawkish shift by the European Central Bank, as traders turned to the dollar betting the jump in U.S. jobs created in January could lead to faster Federal Reserve rate hikes. The European common currency dropped 0.2 percent to as low as $1.1415,…
New Private Currency Offering Money for the Apocalypse
New currencies like Bitcoin expect to find success in a more technological world, but a new currency called Goldbacks might to corner the post-apocalyptic currency market. In 2019, Goldbacks president Jeremy Cordon said he had a dream that he saw people paying for groceries using golden bills. Cordon had previously worked for years trying to…
New Private Currency Uses Bills Filled with Real Gold
New currencies like Bitcoin expect to find success in a more technological world, but a new currency called Goldbacks might to corner the post-apocalyptic currency market. In 2019, Goldbacks president Jeremy Cordon said he had a dream that he saw people paying for groceries using golden bills. Cordon had previously worked for years trying to…
Japan Warns of Need for Currency Stability as Yen Falls Persist
TOKYO–Japan’s Finance Minister Shunichi Suzuki stressed on Friday the need for currency stability and said he was watching market moves “carefully,” in the wake of the yen’s recent declines against the dollar. Domestic media and some market participants have warned of the potential demerits of a weak yen, which pushes up import prices and households’…
China Seems Never to Have Left Its Old Development Model
News Analysis Off and on over the years, people—in the West and in China—have speculated how that country’s fast-developing economy will remake the world’s trading and economic system. During this time, it has also become popular to speculate about when and how China’s yuan will supplant the dollar as the world’s reserve currency. Official statements…
Taiwan Says Is Important Partner, Will Keep Talking to US on Currency
December 5, 2021
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TAIPEI—Taiwan and the United States have mutually beneficial trade relations especially in technology, and the two have “smooth” communication channels and will keep talking to each other on currency issues, Taiwan’s central bank said on Saturday. Taiwan, along with Vietnam, again exceeded the U.S. Treasury’s thresholds for possible currency manipulation and enhanced analysis under a…
Fed’s Quarles Says He Doesn’t See Rationale for Central Bank Digital Currency
October 21, 2021
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Federal Reserve Governor Randal Quarles, until recently the U.S. central bank’s top financial regulator, on Wednesday said he does not understand the arguments in favor of issuing a central bank digital currency. “Until somebody answers me the question why, I don’t understand why we would devote the enormous amount of resources and the technological risk…
Brazil Nixes Welfare Expansion Announcement Amid Currency Sell-Off
BRASILIA—Brazil’s government canceled an announcement for a generous new welfare program on Thursday, after a central bank currency intervention failed to calm market concerns about looser government spending ahead of next year’s election. President Jair Bolsonaro, who has seen his poll numbers fall over his mishandling of the pandemic, a weak economy, and rising inflation,…
Data Is the New Currency. Don’t Let It Slip Through Your Fingers
Flashy modern developments like cryptocurrency, blockchain, and the IoT have been billed as the currencies of the future. When you break it down, though, there is one digitally-driven area of business that has been operating as the “new oil” of the tech era for far longer: data. Data has taken the world by storm in…
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