Moody’s Investors Service cut its rating on China’s debt for the first time since 1989, challenging the view that the nation’s leadership will be able to rein in leverage while maintaining the pace of economic growth.
Currencies Market news
While other Asian currencies have strengthened against the dollar this year, the peso has hit a more than 10-year low and remains locked out of the party.
Bitcoin is taking a severe hit on the markets, as it was trading down 12.9%, at $2,161 a coin. This represents a 40% drop from a high of $2,999.97 reached on Monday.
Favorable exchange rates have triggered a wave of dollar-backed buyers looking into prime London properties, real estate agencies are reporting.