“Coopetition” is an ungainly term at the best of times. But it appears that’s what’s happening among Swiss stablecoin issuers.
The Japanese yen and Swiss franc strengthened against the dollar on Thursday afternoon as a selloff in the U.S. stock market drove investors into the safe-haven currencies. Big falls in Apple Inc <AAPL.O>, Amazon.com <AMZN.O>, Microsoft <MSFT.O> and Google parent Alphabet <GOOGL.O> pushed Wall Street's main indexes lower on Thursday, on track for their deepest one-day dives since June. The dollar was 0.1% lower against the yen <JPY=> and will end the North American session lower for the first time since last week.
* U.S. fiscal stimulus boosts dollar * Sino-U.S. tensions keep currency markets subdued * Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E (Adds new comment, FX table, updates prices, changes byline, dateline; previous LONDON) By Gertrude Chavez-Dreyfuss NEW YORK, Aug 10 (Reuters) - The dollar gained against some currencies on Monday, such as the euro and Swiss franc in generally choppy trading, as investors focused on fiscal stimulus in the United States and U.S.-China tensions ahead of key trade talks on Aug. 15. The greenback rose to one-week highs against the euro and Swiss franc. The dollar index, however, traded little changed.