China News Daily Official TheBitTimes.com

JP Morgan’s forecast for the dollar indicates the currency will weaken gradually over the coming months, not collapse suddenly. The bank expects the dollar to lose a few more percentage points against major currencies by year-end, with risks tilted to the downside. What’s driving the dollar’s decline according to JP Morgan includes trade policy uncertainty, tariff rollouts, and also fiscal concerns about potential Congressional legislation that could substantially increase the budget deficit. Despite fears of a crisis surrounding the dollar, the firm’s Analysis shows the currency falling represents a significant adjustment rather than an existential threat. At the time of writing, the dollar still accounts for 60% of foreign exchange reserves and 85% of SWIFT settlements, which protects its reserve status even as weakness continues. Also Read: JP Morgan Sees Opportunity After Rate Cut as US Dollar Softens JP Morgan’s Dollar Forecast And Insights On Decline...

Traditional banking lobbying groups are reportedly lining up against crypto ahead of upcoming digital asset legislative actions in Washington, DC. Representatives of smaller banks are concerned about the impact of stablecoins on their business, Politico reports. Christopher Williston, president and CEO of the Independent Bankers Association of Texas, tells the news outlet that it “feels like there’s a move to replace us” amid concerns that small bank customers could move their money into digital asset products. Williston argues that the GENIUS Act, signed into law last month by President Donald Trump, is “a fundamental threat to bank deposits” for community banks. The new legislation establishes a regulatory framework for stablecoins, requiring each token to be fully backed by liquid assets such as cash or short-term US Treasuries. Multiple banking trade associations also recently penned a letter to lawmakers asking them to consider repealing a secti...