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Pound Dollar Today: GBP/USD Exchange Rate Forecast To Drop Following ... - Currency News

Pound Dollar Today: GBP/USD Exchange Rate Forecast To Drop Following ... - Currency News | Currency Exchange Rates | Scoop.it
Pound Dollar Today: GBP/USD Exchange Rate Forecast To Drop Following ...
Currency News
A massive fine for banking behemoth JP Morgan could cause appetite for risk to drain from the market, sending GBP AUD & GBP NZD higher and GBP USD the other way.
Versace Versace's insight:

With the banking powerhouse JP Morgan being fined a massive amount, many see this as a risk to drain away from the market. The US Dollar has come in for some selling pressure over the past month, but it still appears highly possible that the news regarding JP Morgan will have a negative effect on investors’ appetite for risk, triggering increased support for the dollar as the USD appreciates.


-Jeffrey Lee

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Faiza Fazal's comment, September 6, 2014 5:58 AM
Such a good one side for latest and update currency rates, news etc. http://www.forextrading.pk
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Raising Minimum Wage: A Help Or Harm?

Raising Minimum Wage: A Help Or Harm? | Currency Exchange Rates | Scoop.it
The federal minimum wage stands at $7.25, and there is a growing call for workers to earn more.
Versace Versace's insight:

Minimum wage should be raised even if it is just by a small amount. Currently, people recieving minimum wage have 30 percent less buying power than people recieving minimum wage in1968. Just an increase of a dollar could mean more than $2000 year for some people, which would make a huge difference in the lives of many families.

-Nathaniel Hessevick

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Central banks adding Gold, alternative assets to diversify US dollar, euro reserves

Central banks adding Gold, alternative assets to diversify US dollar, euro reserves | Currency Exchange Rates | Scoop.it
The official reserves of global central banks have grown from $2 trillion in 2000 to more than $12 trillion in 2012.

 

NEW YORK (BullionStreet): A new report by the World Gold Council, "Central bank diversification strategies - rebalancing from the dollar and the euro", examines the growing trend of central banks' actively looking to diversify their reserve portfolios. While the dollar is still the primary global currency, its long-term dominance is less certain. 

In response, central banks are reducing allocations to US dollars and euros while increasing purchases of traditional assets such as gold and Japanese yen and new alternatives including Chinese renminbi.

The official reserves of global central banks have grown from $2 trillion in 2000 to more than $12 trillion in 2012. During this same twelve-year period the data shows significant shifts away from the US dollar while the share of "other" currencies in reserve composition has tripled in absolute terms since 2008.

Gold has a long history as a reserve asset for central banks ...


Via Hal
Versace Versace's insight:

Using gold as an alternative, a way to diversify the dollar, interesting strategy. 

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Hal's curator insight, March 14, 2013 12:28 PM

Getting away from the Dollar and the Euro. Just what does that forecast to you? Hmmm?

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U.S. economy bruised by fiscal fight: Treasury Secretary

U.S. economy bruised by fiscal fight: Treasury Secretary | Currency Exchange Rates | Scoop.it
WASHINGTON (Reuters) - The U.S.economy has been hurt by a recent budget standoff in Washington and it is important that the nation does not go through another around of brinkmanship, Treasury Secretary...
Macro Challenge's insight:

Wes Farmer - The recent shutdown, which delivered a hit to growth of GDP this quarter did not result in a default. Considering that congress  has "kicked the can" further and further down the road since prior to the 2012 election, I anticipate that as we get closer to the January 15 deadline, the government will be more likely to default. Both sides of the bi-partisan system recognize what is at stake. But both sides are each unwilling to take strides towards compromise and this will result in appropriate consequence.

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I have my doubts about Bitcoin - I, Cringely

I have my doubts about Bitcoin - I, Cringely | Currency Exchange Rates | Scoop.it

To hear Libertarians talk about it, the success of Bitcoin will free us forever from the IRS, Treasury Department, and the Federal Reserve. Bitcoin, as a currency without an associated bureaucracy, is immune to political meddling so no stupid government monetary programs that backfire or don’t work are possible. Bitcoin supposedly protects us from ourselves.

 

That’s fine as far as it goes, but the Bitcoin algorithm has left no place for compassion, either. Governments and treasuries in times of crisis sometimes make decisions that appear to go against the interests of the state . We saw many of those around 2008 — admittedly heroic measures taken primarily to fix dumb-ass mistakes. Bitcoin, for all its digital purity, makes such policies impossible to implement, taking away our policy safety net.


Via jean lievens
Versace Versace's insight:

The Bitcoin currency is still very confusing to me.  The article states that it would be able to protect us from ourselves, but how exactly is that possible? The first paragraph explains that the Bitcoin has no associated bureaucracy, and that they would be immune to any government policies.  Yet, the second paragraph argues that it would take away any safety nets from policies.  So is the Bitcoin more or less safe for use as a currency?

 

-Sam Osisek

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