Swiss investment banking giant UBS believes that the U.S. dollar’s reign will live on but there will be some room for competitors. $USD
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Living in a US Dollar-centric world for years to come – UBSWhile competition for the Dollar is rising, economists at UBS do not see any leading rival to dethrone the currency in coming years. Dollar supremacy
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China's Trade Plunges, Ant's Buyback Faces Decline, and Credit Suisse Bankers Move to UBSChina's trade experiences a larger-than-expected decline, potentially jeopardizing 2023 growth. Several major firms refuse to participate in Ant's buyback. Additionally, senior Credit Suisse bankers secure desirable positions at UBS.
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NZD/USD Slumps Amid Concerns Over China’s Economic Recovery and Strong US DollarThe NZD/USD pair experiences a sharp decline below the 0.6100 level as China's weak economic recovery and the strength of the US Dollar raise concerns among investors. The New Zealand Dollar is trading at 0.6051, down 1%, after reaching a daily high of 0.6109. The safe-haven status of the US Dollar and disappointing Chinese economic data contribute to the downward pressure on the New Zealand Dollar.
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Utah Expects Significant Water Savings from 93 New Optimization ProjectsUtah agriculture officials anticipate that approximately 100 water optimization projects will contribute to statewide water conservation efforts. The Utah Legislature allocated funding for these projects in the spring of 2023, utilizing funds from the American Rescue Plan Act. Although specific project details were not disclosed, it is estimated that upon completion, these initiatives will save approximately 61,599 acre-feet of water annually, equivalent to the capacity of Rockport Reservoir.
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Nvidia Reveals New AI Chip, Expects Significant Drop in LLM Running CostsNvidia announced the GH200, a new AI chip designed for data centers, which combines a powerful GPU with advanced memory and a central processor. The company expects the chip to significantly reduce the costs of running AI models.
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