Other news

The Bank of England (BOE) is considering further interest rate cuts amid deteriorating economic and labor market data, Bloomberg reports. The decline in exports caused by US trade tariffs, coupled with higher taxes, has already led to weaker GDP growth in April and significant job losses.

Vietnam has officially adopted its first Digital Economy Law, which introduces clear regulations for cryptocurrencies. The legislation, passed by the National Assembly on June 14, distinguishes between the concepts of «virtual assets» and «cryptoassets».

Ripple Labs and the US Securities and Exchange Commission (SEC) have proposed a joint settlement that would reduce the original $125 million penalty in their long-running case concerning XRP sales.

Charles Hoskinson, Cardano founder, proposes to convert $100 million worth of ADA tokens into stablecoins and Bitcoin to activate the decentralized finance (DeFi) ecosystem.

Bloomberg reports, citing sources familiar with the matter, that Bank of Japan (BOJ) officials have noted that prices are rising faster than initially projected at the start of the year. This could pave the way for discussions about raising interest rates.

Although BCA Research analysts anticipate a near-term dollar recovery, they maintain cautious long-term expectations due to potential payment imbalances and waning US economic exceptionalism.

In May, UK businesses added fewer employees than anticipated, which marks the eighth straight month of falling labor demand. However, the latest survey of UK talent scouts suggests that the broader economic downturn may be easing.

The British population's expectations regarding medium-term inflation remained at their highest level in recent years. Meanwhile, short-term forecasts decreased, according to the Bank of England's survey published ahead of its interest rate decision this week.

An increase of the indicator value may contribute to the rise in quotes of GBP.

A decrease of the indicator value may contribute to the fall in quotes of AUD.