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A queue of people forms outside a money changer (L) as people wait to buy and sell the Japanese yen against foreign currency, along a street in central Tokyo on April 29, 2024. In the past, weakness in the Japanese currency has been attributed to the difference between the U.S. and Japanese interest rates as lower rates tend to pressure currencies, while higher rates lift them up. Japan had negative rates for about eight years, keeping it's currency weak compared to the dollar. The Japanese yen is hovering near three-month lows against the U.S. dollar, after hitting 153.18 late Wednesday. "The annualised 1-month deposit rate for yen is +0.03%, while it is 4.76% for the U.S. dollar.
Persons: Alvin Tan, Homin Lee, Lombard Odier, Donald Trump, Lee, RBC's Tan, Hugh Chung Organizations: Federal, Bank of Japan, U.S, U.S ., Asia FX, RBC Capital Markets, CNBC Locations: Tokyo, Japan, Asia, Swiss, U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina will likely meet its GDP target but it won't be enough for the market: CIOSamuel Rhee, chairman and CIO of Endowus, discusses the outlook for the Chinese market.
Persons: Samuel Rhee Organizations: China, Endowus
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGenerative AI cannot be used to 'beat the market,' says fintech companySamuel Rhee, chairman and chief investment officer of Endowus, dispels some of the myths about generative artificial intelligence.
Persons: Samuel Rhee
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe distribution of financial products in Asia is quite broken, says digital wealth advisorSamuel Rhee of Endowus says there are many commissions embedded into the cost of investing.
SINGAPORE, Oct 16 (Reuters) - Singapore-based digital wealth advisor Endowus has acquired a majority stake in Hong Kong-based wealth manager and multi-family office Carret Private Investments Limited, it announced on Monday. With the acquisition, total assets under management of the Endowus group - comprising Endowus' licensed companies in Singapore and Hong Kong, as well as Carret Private - stands at over $4 billion across tens of thousands of clients as at the end of the first half this year. The group, through Carret Private’s minority shareholding, will also have a partnership with Singapore-based wealth advisor and multi-family office Lumen Capital Investors. Lumen is founded and led by Wilfried Kofmehl, former CEO of Bank Julius Baer Singapore. Register now for FREE unlimited access to Reuters.com RegisterReporting by Rae Wee; editing by Diane CraftOur Standards: The Thomson Reuters Trust Principles.
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