Yuan Taps New Low Versus US Dollar as Investors React to Endorsement of Chinese President’s Third-Term Bid

The Chinese yuan’s offshore exchange rate against the U.S. dollar fell to a new all-time low of 7.33:1 just over a day after the conclusion of the Chinese Communist Party’s congress which gave President Xi Jinping the mandate to lead the…

Blackrock’s CIO: Bitcoin and Crypto Are Durable Assets — Prices Will Move Higher

The chief investment officer of global fixed income at Blackrock, the world’s largest asset manager, says bitcoin and crypto are durable assets. “I think there’s a healthy recalibration going on,” he said, noting that “if you look two to three years…