The U.S. dollar is showing remarkable strength, nearing its highest point since the pandemic. This comes as U.S. assets, especially stocks, surge. The dollar now stands 17% higher than its 20-year average against other major currencies. This strength is supported by the U.S. economy’s resilience, leading to reduced bets on Federal Reserve rate cuts. Higher […]
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Cape Verde to Grow 4.7% Amid European Slowdown Risks
Cape Verde’s economy will grow by 4.7% in 2024 and 4.8% in 2025, says the African Development Bank (AfDB). This optimistic forecast, however, comes with warnings. The AfDB notes risks from a European economic slowdown, critical for Cape Verde’s tourism. The AfDB report, presented in Nairobi, identifies key threats. These include oil supply disruptions, slow […]
Mexican currency closes at 16.89 pesos per dollar, its best level since 2015
The Mexican currency closed Wednesday’s session at 16.8870 pesos per U.S. dollar, strengthening to its best level since December 2015, according to the central Bank of Mexico (Banxico) and experts. The Mexican peso in its 48-hour interbank value oscillated during the session between 16.8990 and 16.8170 pesos against the U.S. currency, according to Banxico. In […]