The US Dollar Index (DXY), which tracks the value of the US Dollar (USD) against a basket of six major currencies, slumps sharply on Friday, down over 1.8% for the week after posting a modest gain on Thursday to trade around 99.10 near a two-week low, ahead of the weekend.
Major United States (US) banks, including JPMorgan Chase, Bank of America, Citigroup and Wells Fargo, are eyeing a joint stablecoin venture amid a potential seismic shift in crypto regulations following the advancement of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) A
On Friday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1919 as compared to the previous day's fix of 7.1903 and 7.2151 Reuters estimate.