Dollar pressured lower amid hedge fund selling
- The U.S. dollar has seen selling across the board, according to analysts at Bank of America, and further losses remain a possibility. “Our proprietary flows show...
- The U.S. dollar has seen selling across the board, according to analysts at Bank of America, and further losses remain a possibility. “Our proprietary flows show...
Wall Street roared back after a sell-off early in the month as fears of recession eased. The technology sector, which bore the biggest brunt, rebounded strongly and once again led the market over the past week.
The Aussie dollar has risen again in the early hours of Tuesday trading, as the US dollar continues to suffer at the hands of short sellers worldwide.
According to BlockBeats, on August 20, U.S. stock futures remained largely unchanged following a strong performance the previous day. The market is speculating that the Federal Reserve may soon signal a readiness to begin cutting interest rates. After the S&P 500 Index strengthened for the eighth consecutive day on Monday, traders took a brief pause.Trading volumes have decreased as investors are hesitant to make significant bets ahead of this week's Jackson Hole Economic Symposium. Kyle Rodda, a senior market analyst at Capital.Com Inc., noted that recent data has alleviated concerns about a slowdown in U.S. economic growth without sparking fears of a resurgence in inflation.
Bank of America (BofA) provided insights into the current state of G10 foreign exchange (FX) positioning, noting that it has become more balanced compared to the end of the second...
Bank of America (BofA) reported a growing consensus against the U.S. dollar, with a noticeable sell-off occurring last week. Investors in both the United States and Europe have...
- The U.S. dollar slipped lower Tuesday, falling close to seven-month lows amid growing conviction that the Federal Reserve will cut interest rates in September. At...
According to PANews, the Seychelles National Assembly has approved a draft bill aimed at regulating Virtual Asset Service Providers (VASPs). The legislation mandates that VASPs seeking licenses must establish substantial operations within Seychelles, including having resident directors and offices staffed with competent employees. This law aims to balance innovation with anti-money laundering efforts and comply with the recommendations of the Financial Action Task Force (FATF).
-- Most Asian currencies drifted higher on Tuesday, while the dollar steadied at a more-than seven-month low amid growing conviction that the Federal Reserve will cut...
According to Odaily, the U.S. Department of Justice has announced that a former CEO of a Kansas bank has been sentenced to 293 months (approximately 24 years and 5 months) in prison for embezzling substantial funds to participate in a cryptocurrency scam, leading to the bank's collapse. Court documents reveal that 53-year-old Shan Hanes admitted to one count of embezzlement by a bank executive. During his tenure as CEO of Heartland Tri-State Bank (HTSB), Hanes conducted 11 wire transfers totaling $47.1 million between May and July 2023, funneling the money into a cryptocurrency wallet to engage in a crypto scam. These funds eventually ended up in multiple cryptocurrency accounts controlled by unidentified third parties. The Federal Deposit Insurance Corporation (FDIC) covered the $47.1 million loss due to the bank's federal insurance protection. Hanes' fraudulent actions led to the collapse of Heartland Tri-State Bank, resulting in a $9 million loss for investors. A federal judge has ordered a separate hearing within the next 90 days to finalize the restitution. The Department of Justice stated that Hanes' actions not only betrayed the bank and its investors but also undermined public confidence in financial institutions. The case was investigated by multiple agencies, including the Federal Bureau of Investigation (FBI) and the FDIC Office of Inspector General.