Currencies

Sterling gains 0.35% as high-beta currencies benefit from improved sentiment despite initial tariff shock. Trump enacts 25% auto tariffs effective April 2; UK says talks underway to secure exemption. US data mixed with jobless claims near estimates, GDP revised up, and home sales still in decline. The Pound Sterling rises during the North American session, against the Greenback even though the US President Donald Trump enacted automotive tariffs on all cars made outside of the United States (US). Initially, risk appetite deteriorated, but it has improved. Therefore, high-beta currencies like...

A Bangladeshi man was apprehended in Perumbavoor following the discovery of counterfeit currency in his possession, police reported on Thursday. Investigations revealed Selim Mondal had been residing illegally in India for 18 years.Mondal, arrested initially for train theft, was found with 17 counterfeit Rs 500 notes during a search by Ernakulam Rural and Alappuzha Railway Police. Despite claiming to be from Murshidabad, West Bengal, he later confessed to his true identity under interrogation.Authorities suspect Mondal distributed fake currency across India, employing a smuggling operation that included transporting counterfeit printing...

Indian stock markets have staged an impressive recovery in March, rebounding from a protracted period of negative returns that began in October. India has been one of the best performing markets in the last few weeks. The recovery in stock markets is driven by a change in stance of foreign portfolio investors. In the last two weeks of March, FPIs have been net buyers due to aggressive buying of Indian debt. The spate of selling in the equity market has slowed down considerably, compared to the previous months. Supported by...

Jeremy Allaire, cofounder and CEO of Circle, at the Paris Blockchain Week summit in Paris, France, on April 9, 2024. Photographer: Nathan Laine/Bloomberg© 2023 Bloomberg Finance LP Intercontinental Exchange (ICE)—the parent company of the New York Stock Exchange, which reported revenues of $9.3 billion in 2024 and has a market capitalization of $101 billion—has signed a memorandum of understanding with Circle, issuer of the world’s second-largest stablecoin, to explore integrating Circle’s products into its trading and clearing empire. Stablecoins are digital tokens designed to maintain stable value, typically pegged to...

Intercontinental Exchange, the parent company of the New York Stock Exchange, said it plans to explore using Circle's stablecoin and tokenized asset to develop new products, joining a roster of U.S. traditional financial giants pushing into crypto under the Trump administration.According to an agreement announced on Thursday, the two firms will look at how Circle's USDC stablecoin and USYC tokenized money market fund could be integrated into derivatives exchanges, clearinghouses and other services."We believe Circle’s regulated stablecoins and tokenized digital currencies can play a larger role in capital markets as...

The Pound Sterling gains to near 1.2925 against the US Dollar, while investors ignore fresh tariffs by US President Trump on auto imports. Fed Kashkari supports leaving interest rates at their current levels for an extended period. UK Reeves cuts welfare benefits and remains committed to her fiscal agenda. The Pound Sterling (GBP) recovers strongly to near 1.2925 against the US Dollar (USD) during European trading hours on Thursday. The GBP/USD pair bounces back after a slight corrective move in the last five trading days from the four-month high of...

Cardano (ADA) price hovers around $0.74 at the time of writing on Thursday after a recovery of over 4% so far this week. On-chain data hints at a bullish picture as ADA’s stablecoin market cap rises while its bullish bets increase among traders.  Toncoin price rose 3% on Wednesday despite crypto market inflows subsiding after a two-day rally. Market reports suggest Elon Musk’s Grok’s integration into the Telegram social network could trigger breakout gains in the weeks ahead.  Ethereum (ETH) is down 3% on Wednesday despite positive updates of the Pectra upgrade...

BENGALURU: Indonesian equities rallied 4% on Wednesday after a period of relentless selling on worries over the country’s growth outlook and fiscal stability, though market participants cautioned the recovery might be short-lived. Sharp gains in banks across Southeast Asia, particularly Bank Central Asia and Bank Rakyat Indonesia, propelled the MSCI index of ASEAN equities by 1% to its highest level in more than two weeks. The two Indonesian banks account for roughly 6.7% of the index, while Indonesia’s overall weight in the index is 15%. Jakarta’s benchmark index rose to...

A plunge in automakers hit Asian equities on Thursday after Donald Trump announced painful tariffs on all imported vehicles and parts as he presses hardball trade policies many fear will spark a recession.Indications that levies lined up for the president’s “Liberation Day” on April 2 would be less severe than feared had given investors a little hope, and helped markets chalk up much-needed gains.However, the White House’s habit of alternating between tough talk and leniency has fanned uncertainty, and the latest announcement did little to soothe nerves.“What we’re going to...

March 27 (Reuters) - The following table shows rates for Asian currencies against the U.S. dollar, as of 0209 GMT. Currency Latest bid Previous Pct day Move Japan yen 150.220 150.58 +0.24 Sing dlr 1.339 1.3398 +0.07 Taiwan dlr 33.137 33.097 -0.12 Korean won 1466.200 1467.3 +0.08 Baht 33.950 33.94 -0.03 Peso 57.569 57.707 +0.24 Rupiah 16600.000 16575 -0.15 Rupee 85.705 85.705 0.00 Ringgit 4.425 4.427 +0.05 Yuan 7.265 7.2691 +0.05 Change so far in 2025 Currency Latest bid End 2024 Pct Move Japan yen 150.220 157.180 +4.63 Sing dlr...