Tag: dollar
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Russia Skirts Sanctions Using Bitcoin
Efforts by the West to punish Russia using an array of sanctions are being undermined as Russian companies increasingly use Bitcoin to evade penalties. In December, Finance Minister Anton Siluanov acknowledged Russian firms were already using Bitcoin and other cryptocurrencies for international trade following a bill signed into law by President Vladimir Putin. The law,…
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Euro falls to its lowest level in two years against the dollar
The euro declined further against the US dollar to a fresh low in over two years amid concerns about the Eurozone’s economy, Trump’s tariffs, and monetary policy discrepancy between the ECB and the Fed. The euro declined 0.9% against the US dollar, reaching mid-1.02, its lowest level since 21 November 2022 on Thursday. The common…
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Dollar set for big annual gain as traders brace for high US rates
The U.S. dollar was headed for an almost 7% annual gain while Japan’s yen was set for a fourth consecutive year of losses on Friday, as traders anticipated robust U.S. growth would make the Federal Reserve cautious on rate-cutting well into 2025. The dollar index , which measures the currency against major rivals, rose 0.08%…