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Japan stocks rise and the yen sinks as Abe cruises to victory

Monday 02.40 BST What you need to know Japanese equities rally and yen weakens after Abe election victory New Zealand dollar continues post-election slide Gold touches two-week low, sending gold miners lower in Sydney Overview Japan’s yen was down as Tokyo-listed equities climbed in the wake of the weekend’s snap election, while the New Zealand […]

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Japanese yen and New Zealand dollar weaken in Asia trading

The greenback was broadly higher in Asia Pacific trading on Monday as currencies in the region were led lower by Japan’s yen and the New Zealand dollar. The dollar index tracking the currency against a basket of peers was up 0.1 per cent at 93.831. With equities in Tokyo climbing, Japan’s yen was down as […]

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New Zealand dollar resumes slide

The New Zealand dollar continued to lose ground on Monday following the formation of a new government last week. The kiwi was down as much as 0.4 per cent in early trading in Asia to $0.6938 against the US dollar, having dropped 3 per cent since the October 19 announcement that a centre-left coalition would […]

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Yen weakens to nearly ¥114 per dollar after Abe election victory

The yen was visibly weaker on Monday morning in Asia, flirting with the ¥114 per dollar mark in the wake of Prime Minister Shinzo Abe’s resounding weekend victory at the polls. The currency weakened as much as 0.4 per cent to ¥113.95 per dollar, the softest level since July 12 in Monday morning trade in […]

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Emerging market rally leaves currencies behind

On the face of it, 2017 has been a fantastic year for all emerging market asset classes. Equities have surged 30 per cent, hard currency debt by 9.2 per cent and the local currency variant by 9 per cent as foreign investors have jumped back into the fray, buoyed by a modest pick-up in economic […]

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Wall Street trading firms jump into cryptocurrencies

Intense price swings in cryptocurrencies are luring the highest-volume traders on Wall Street as they search for relief from the low volatility blanketing financial markets. Proprietary trading firms, which bet their own capital in markets from stocks to futures, are wading into bitcoin, ethereum and other cryptocurrencies better known as a playground for small speculators […]

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‘Wolf of Wall Street’ warns ICOs are ‘biggest scam ever’

Jordan Belfort, the former penny-stock broker immortalised in the film, The Wolf of Wall Street, has dismissed the current craze for initial coin offerings as “the biggest scam ever” that is bound to “blow up in . . . people’s faces”. The warning comes after ICOs — which raise funds online by selling investors digital tokens in exchange for cryptocurrencies such […]

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ECB poised to outline pace of bond buying

Here are the big questions for markets and investors this week What’s the taper ECB? It’s showtime in Frankfurt on Thursday when Mario Draghi and the European Central Bank are expected to outline the pace of bond buying next year. Some economists think the ECB will buy bonds for much of 2018, say to at […]

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US stocks extend gains, dollar rises on tax hopes

Wall Street pushed deeper into record territory and the US dollar climbed cheered by hopes that Republicans are one step closer to passing tax reforms after the Senate adopted a fiscal 2018 budget resolution. The S&P 500 climbed 0.5 per cent to 2,573.90 — led by a 1.2 per cent rally in financials. The Dow […]

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Czech markets optimistic ahead of election despite ‘populist’ surge

Voting has just kicked off in the Czech Republic’s parliamentary election, with Andrej Babiš’ Ano 2011 on track to overtake the social democrats as the country’s largest party. While political commentators have warned that Mr Babiš’ success threatens “the end of liberal democracy“, financial markets appear unconcerned: this week the koruna finally recovered to the […]

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