Pound hits three-week low after Bank of England says slowing jobs market could prompt rate cut – business live
Rolling coverage of the latest economic and financial news, as Andrew Bailey insists: “I think the path [for interest rates] is down.
Trade data released this morning shows that China’s exports regained some momentum in June.
China’s exports rose 5.8% in June from a year earlier to $325bn, while imports rose 1.1% to grow, according to data from the General Administration of Customs.
Its gains have been driven by strong inflows into ETFs, including BlackRock’s Bitcoin ETF IBIT, which, after receiving $1.7bn in inflows last week, now manages $84bn in FUM (funds under management).
Still, the rally is underpinned by a crypto-friendly US policy shift and growing emerging market adoption — both remain intact.
Continue reading...© Photograph: Carlos Jasso/Reuters
© Photograph: Carlos Jasso/Reuters
© Photograph: Carlos Jasso/Reuters