Currencies

Japan was also in the firing line on Monday.The US president accused the country of currency manipulation, and hinted he might respond with tariffs. Trump said other countries are deliberately pushing down the value of their currencies to give their economies a competitive advantage. He singled out Japan and China. Trump said he had phoned Chinese President Xi Jinping and Japanese leaders. He said he told them that they can't continue to devalue their currencies against the dollar because it's unfair to the US. Trump said the easy solution for...

Bitcoin’s 13% decline in early Asian trading on Tuesday triggered a $125 billion market cap decline, wiping out gains recorded on Sunday. Bitcoin ETFs recorded only $3.8 million inflows on Monday according to Fairside.co.uk data.   Dogecoin (DOGE) extends its decline, trading around $0.19 on Tuesday after falling nearly 17% the previous day. The recent correction in DOGE has triggered a wave of over $20 million in liquidations in the last 24 hours and more than $100 million last week. The technical outlook and long-to-short ratio suggest a further pullback targeting the...

ASIAN markets tumbled on Tuesday (Mar 4) after US President Donald Trump heaped tariffs on Chinese imports and warned levies on Mexico and Canada could not be averted.Japan’s Nikkei and Hong Kong’s Hang Seng saw the biggest drop, tumbling more than 2 per cent and 1.5 per cent respectively. It comes after the White House said Trump had signed on Monday an executive order to increase a previously imposed 10 per cent tariff on China, to 20 per cent. The US president also stressed that Canada and Mexico would not avoid being...

WASHINGTON - US President Donald Trump said on March 3 he told leaders of Japan and China they cannot continue to reduce the value of their currencies, as doing so would be unfair to the United States.“I’ve called President Xi (Jinping), I’ve called the leaders of Japan to say you can’t continue to reduce and break down your currency,” Mr Trump said at the White House.“You can’t do it because it’s unfair to us. It’s very hard for us to make tractors, Caterpillar here, when Japan, China and other places...

This content was published on March 4, 2025 - 01:19 (Bloomberg) — Asian stocks fell Tuesday, tracking US shares lower as President Donald Trump’s pledge to impose tariffs on trading partners raised the spectre of a trade war hitting global economic growth.Tokyo and Sydney shares were down, with futures showing equity benchmarks in Hong Kong to open lower Tuesday. The S&P 500 declined almost 2% as the US president said Mexico and Canada couldn’t negotiate a reprieve from tariffs set to take effect Tuesday and signed an order doubling a...

By Leika Kihara and Makiko Yamazaki(Reuters) -U.S. President Donald Trump said he told the leaders of Japan and China they could not continue to reduce the value of their currencies, as doing so would be unfair to the United States.The remarks added to market jitters as Trump's new 25% tariffs on imports from Mexico and Canada took effect on Tuesday, along with a doubling of duties on Chinese goods to 20%, in a fresh escalation of global trade tensions.Highlighting the risk that Japan's export-reliant economy faces from uncertainty over Washington's...

US president Donald Trump has named the crypto currencies/assets to be included in the nation's strategic reserve: on top of the original crypto currency Bitcoin (BTC), its competitor Ethereum (ETH), Solana (SOL), XRP and Cardano-ADA will be part of the reserve. A reserve is an official stockpile of for example oil, that can be used in times of supply distribution, or a national crisis, to stabilise markets. The role of crypto currencies paid for with public money in reserves is new and untried, and not universally accepted as a good...

Bitcoin and other cryptocurrency prices jumped after President Donald Trump named them in a post about a crypto strategic reserve. The price of Bitcoin jumped more than 10% on Sunday, after President Donald Trump said it would be part of a Crypto Strategic Reserve, along with a handful of other digital currencies. Although he didn’t initially mention Bitcoin by name, he did name smaller digital assets whose prices also spiked. In a post on Truth Social, Trump said his executive order on digital assets directed the Presidential Working Group to...

A Truth Social post on Sunday, where President Donald Trump reiterated plans for a “U.S. Crypto Reserve” and praised several specific coins, is drawing ire in the crypto community.  Featured Video The post gave a bump to a floundering market, but the currencies picked had skeptics convinced the announcement was a ploy to boost the bottom line of people in his administration. Trump claimed he would make the U.S. “the Crypto Capital of the World” and create a “Crypto Strategic Reserve” that included a specific set of currencies: Ripple, Solana, and...

U.S. President Donald Trump announced on March 2 the first five cryptocurrencies that will form a U.S. strategic crypto reserve: Bitcoin, Ethereum, Ripple, Solana, and Cardano. Bitcoin and Ethereum are the two largest cryptocurrencies in the world by market value. By establishing a crypto reserve, the U.S. becomes a direct stakeholder in the digital asset market, gaining leverage over global policy, adoption rates, transaction standards, and institutional investment. Trump posted on Truth Social, “I will make sure the U.S. is the Crypto Capital of the World.” SEE: The 6 Best...