Wednesday, 26 June 2024
Japanese Yen Falls to Record Low versus USD
USDJPY is trading at 160 yen to the dollar (26 June 2024), down from the 140s in January 2024, and 130s in January 2023. Relative strength indicators suggest the yen is oversold. When USDJPY hit 160 on April 29th, Japan started buying yen for dollars, according to market participants. Currency traders however remained strategically bearish on yen based on expectations on the interest rate differential - the premise that Japanese rates will remain low in contrast with relatively high US interest rates. Standard Chartered reflected that the April intervention is unlikely to be a "one and done move".
Friday, 21 June 2024
Abu Dhabi backed Redbird IMI selling Telegraph and Spectator
Prospective owners can bid from June 21st.
Tuesday, 4 June 2024
Walmart Tops the 2024 Fortune 500
Top companies are Walmart, Amazon and Apple. The threshold to make the 2024 list was $7.1 billion in revenue. The Fortune 500 makes up two thirds of US GDP. US GDP was 25 trillion in 2022.
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