The United States reportedly sold euros instead of dollars to fund Japan’s yen intervention, aiming to avoid destabilizing the sensitive U.S. Treasury market. The euro strengthened to 1.1558 against the dollar on Monday, reaching its highest level in almost two months. Amazon hit a new all-time high with a market capitalization exceeding $3 trillion following better-than-expected quarterly earnings. HSBC reported second-quarter pre-tax profit of $10.1 billion, up 60% year-on-year. Hugging Face CEO said China is winning the AI race with open-weight models and could catch up to U.S. developers by the end of this year.
Source: Read the original article
