Softer trade war issue promotes US dollar increase

Posted 21 May, 2018

The US dollar started the week with a rise against the majors as the US-China trade war issue softened and US state bonds yield increased.

The euro-to-US dollar exchange rate decreased $1.1726. The greenback strengthened positions to 111.35

According to Interfax reports, Washington and Beijing representatives held successful talks last weekend. Specifically, the parties were said to agree on measures aimed at preventing trade war between the countries, including countermeasures against trade tariff increase.

As stated US Finance Minister Steven Mnuchin, the countries have paused the trade war. In particular, they reportedly gave up plans for mutual trade tariff hikes.

The euro weakening is restrained by the reports from Italy and Greece.

In Italy, the winning parties agreed on the next prime minister, which will be announced on Monday. The name of new PM is yet to be disclosed, so there are rumors that it can be Giuseppe Conte, a law studies professor from Florence's University.

In Greece, the authorities and creditors managed to come to terms regarding the reforms to end 8-year financial assistance programme.

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21 May, 2018 12:20

← Coincheck to remove from the list four coins

Japan's Coincheck, one of the leading exchanges, announced delisting of Monero, Dash and Zcash coins citing boosted privacy of their users. The platform management took such measures following the requirements of Japan's FSA, which cover the need to improve business process including expansion of compliance with the ruling against illegal income laundering.

Coincheck to remove from the list four coins

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18 May, 2018 13:48

Switzerland to explore opportunities for national cryptocurrency →

Switzerland is considering its own cryptocurrency – e-franc. For that purpose, the Federal Council has asked to study risks and opportunities for the launch of cryptocurrency. The e-franc is planned to be based on the technology of other currencies like bitcoin but will get state support. The proposal to study the issue was made by Cedric Wermuth, vice president of the Social Democratic Party.

Switzerland to explore opportunities for national cryptocurrency
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