Currency markets

Another Chinese city launches a digital currency test — this time it’s much larger at $6 million

February 24, 2021adminLeave a Comment

People walk past the headquarters of the People’s Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018. Jason Lee | Reuters BEIJING — The southwestern Chinese city of Chengdu announced Tuesday it will hand out roughly $6 million in the latest test of the central bank’s digital currency. The scale of […]

Forget bitcoin — fintech is the ‘real Covid-19 story,’ JPMorgan says

February 22, 2021adminLeave a Comment

A woman uses a Bitcoin ATM machine placed within a safety cage on January 29, 2021 in Barcelona, Spain. Cesc Maymo | Getty Images Bitcoin is an “economic side show” and fintech innovation is the story that will dominate financial services, according to JPMorgan. Analysts at the bank said that, despite bitcoin’s monster rally, the […]

‘The best time to invest in bitcoin was yesterday,’ says strategist as the cryptocurrency soars

February 22, 2021adminLeave a Comment

The reflection of bitcoins in a computer hard drive. Thomas Trutschel | Photothek via Getty Images As bitcoin continues on its upward trek in 2021, one analyst says the regulatory concerns surrounding the cryptocurrency won’t likely derail its momentum. “The regulatory issues have been around for a long time, we’ve been dispelling them for a […]

Sterling hits $1.40 for the first time in nearly three years

February 19, 2021adminLeave a Comment

Sterling reached $1.40 against the U.S. dollar for the first time since April 2018 on Friday morning. The dollar has been in decline on the back of a weak U.S. jobs report Thursday, while the pound is reacting positively to the U.K.’s uniquely successful Covid-19 vaccination rollout. This is a breaking news story. Check back […]

Bank of America names the emerging market currencies to back as inflation risks mount

February 15, 2021adminLeave a Comment

A woman takes photos of the container ship Ever Legacy being offloaded after arriving from Taipei at the Port of Los Angeles, which is the nation’s busiest container port, on March 6, 2020 in Terminal Island, California. Mario Tama | Getty Images With global demand returning and supply bottlenecks likely to drive up shipping, food […]