The U.S. dollar strengthened against most major currencies, a day after the Federal Reserve delivered an expected rate cut but signaled little urgency to lower borrowing costs quickly in the coming months.
Nvidia said it would invest $5 billion in Intel, throwing its heft behind the struggling U.S. chipmaker just weeks after the White House engineered an extraordinary deal for the federal government to take a massive stake in the company.
Oil prices eased after data showing an increase in U.S. diesel stockpiles stoked worries about demand and the U.S. Federal Reserve cut interest rates as expected.
Metaplanet, the Japanese hospitality and real estate group turned Bitcoin treasury company, is ramping up its crypto strategy with the launch of two new subsidiaries, one in the US and one in Japan. Goal is to grow Bitcoin income and expand domestic crypto media operations.
The Fed cut interest rates by a quarter of a percentage point and indicated it will steadily lower borrowing costs for the rest of this year, as policymakers responded to concerns about weakness in the job market in a move that won support from most of Trump’s central bank appointees.
The dollar fell across the board, hitting a four-year low against the euro, as investors firmed bets for a Federal Reserve interest rate cut this week. The euro rose by 0.9% higher to its highest level since September 2021.
