The U.S. dollar notched its worst weekly performance since late July on Friday as traders increased bets that the Federal Reserve will cut rates again next month. The dollar has dropped last week as traders conclude that weakening labor data will lead to more rate cuts.
CoinShares filed to withdraw its plan to launch three exchange-traded funds, as the European cryptocurrency firm plans to focus on higher-margin opportunities ahead of its U.S. listing. CoinShares has filed with the SEC to withdraw its registration statements for XRP ETF, solana staking ETF, and litecoin ETF.
Gold prices hovered near an over one-week high, after expectations the U.S. Federal Reserve will trim interest rates next month kept non-yielding bullion a favoured asset.
Investors piled into long-dated UK bonds, pushing yields down by the most since April, and boosted the pound after UK finance minister Rachel Reeves’ budget helped alleviate some concern about Britain’s long-term finances.
Wall Street’s main indexes rose for a fourth consecutive session, as investors doubled down on bets the Federal Reserve will cut interest rates in December. Tech stocks were in the lead following AI-server maker Dell’s strong forecasts, helping the S&P 500 and the Nasdaq touch two-week highs.
Tokyo-listed Bitcoin treasury company Metaplanet has drawn another $130 million in Bitcoin-backed credit, expanding its use of collateralized borrowing to accelerate BTC purchases, income-generation strategies and potential share buybacks.
