All articles tagged with #currency
Iran’s rial plunged to a record low—more than 2 million per US dollar—as the US readies additional sanctions, while the UAE suspends trade with Iran. Iranians hedge against further losses by buying dollars, and officials warn that escalating measures could have consequences amid broader regional tensions and mounting economic strain.
Fortune reports that economist Robin Brooks warns the Treasury’s plan to buy back more long‑term debt could put the dollar on a path toward debasement and a devaluation spiral similar to Japan’s, while other analysts argue the move is largely a symbolic fix that won’t address the underlying deficit; the debate centers on whether yields will stay elevated and what this means for the dollar’s near‑term trajectory.
The dollar eased as the U.S. Treasury signaled expanded bond-buybacks to dampen yields, prompting questions about potential implications for the currency. The euro rose to about $1.1703 and the pound held near its highs, while the yen firmed after inflation data, as traders await the Federal Reserve’s Jackson Hole symposium for new guidance.
U.S. efforts to shore up the yen are unlikely to yield a lasting recovery because Japan’s policy mix favors a soft currency for exporters, the US–Japan rate gap remains wide, and the intervention’s design (reportedly buying yen with euros rather than dollars) limits broader dollar-policy implications; without policy shifts in Tokyo or direct dollar selling, any yen rally is likely temporary.
Goldman Sachs argues that US-Japan yen intervention is unlikely to threaten the dollar’s status as the world’s dominant reserve currency, pointing to the dollar’s deep capital markets and the Fed’s FIMA facility as crucial advantages during currency-support episodes. While policy uncertainty can weigh on the dollar, the bank notes that past instances where Treasuries were used to back currencies have typically reinforced the dollar’s central role.
The yen’s brief rally from last week’s U.S.-Japan intervention has faded, with the currency hovering around 158.5 per dollar after peaking near 155 (from just above 163) as traders shift focus to Japan’s policy outlook rather than further intervention.
Brad Setser argues that China’s large current-account surplus and the yuan’s managed undervaluation indicate a substantial undervaluation, with the PBOC’s FX interventions sustaining an export-led model that fuels global imbalances. He contends that allowing modest yuan appreciation could help rebalance growth, though some economists urge waiting for domestic-demand reforms; inaction risks larger global disruption as reliance on China’s exports persists.
The U.S. Mint has begun producing a gold-finished commemorative $1 coin featuring Donald Trump for the nation’s 250th anniversary; the released version differs from the earlier approved design and is set for a fall release, drawing criticism because federal law bars living presidents from appearing on U.S. currency, even as Treasury officials say they can authorize minting. The obverse shows Trump and Liberty while the reverse features the Great Seal eagle.
The U.S. Treasury says it will mint gold $1 coins bearing Donald Trump’s image to celebrate the nation’s 250th anniversary, a move supported by the administration but criticized by some lawmakers as inappropriate for living presidents on currency; the plan relies on the Circulating Collectible Coin Redesign Act of 2020, with pricing and timing still undecided and notes featuring Trump’s signature requiring legislative approval.
The U.S. Mint will begin striking $1 coins featuring a portrait of Donald Trump to commemorate the nation’s semiquincentennial, a move that tests long-standing restrictions on living persons on U.S. currency. While the design places Trump on the obverse and a presidential seal on the reverse, legal debates persist about whether such living-person portraits violate federal law, with Mint officials saying the design complies. The coins will be made of non-precious metals with a gold-like finish and available in rolls and bags this fall.
Reality Tea reports that a new $100 bill bearing Donald Trump’s signature was unveiled, making him the first sitting U.S. president to have his signature on federal currency. Treasury officials said the bill is part of a semiquincentennial celebration, with notes expected to circulate soon. The piece portrays it as a historic milestone tied to Trump’s economic messaging.
EA’s The Sims 4 June Patch brings bug fixes and quality-of-life tweaks (including Create‑A‑Sim asset updates and gallery fixes) and adds a simplified Marketplace purchase flow that auto-converts purchases to the nearest Moola with new USD/EUR price points, though not all of the 80+ promised fixes are guaranteed to be addressed in this update.
The article outlines how Star Trek mainly envisions a post-scarcity Federation where money isn’t needed for daily life, yet non-Federation worlds still rely on currencies like credits, quatloos, and especially gold-pressed latinum (favored by the Ferengi). Starfleet officers aren’t shown earning a paycheck within Federation worlds, and exchanges with other civilizations often take the form of barter or credits rather than wage-based transactions. The narrative uses moments from DS9, TNG, and films to illustrate a galaxy where money shapes villainy and power (and where replicators can undercut monetary value), while the Federation itself leans toward a system where “the currency” is prestige and helping others rather than accumulating wealth.
Trump’s second-term official portrait, clearly inspired by his 2023 Fulton County mug shot, is being eyed for use on a $250 commemorative bill and other official items, raising legal questions about living-person images on currency. Body‑language experts say the portrait echoes the mug shot’s confrontational energy while adopting a higher-status gaze, and White House photographers confirm the mug shot inspired the image. Reactions split along supporters versus critics, illustrating a deliberate departure from traditional presidential portrait norms and highlighting Trump’s outsider‑versus‑inside narrative.
CNN panelist Gretchen Carlson argued that the Treasury Department’s mock-up of a Donald Trump $250 bill is not only legally questionable, but Trump might view the portrait—especially his hair—as a personal flaw highlighted for public scrutiny, raising questions about the legality and propriety of commemorating the 250th anniversary with a former president on currency.