Analyst: UK Fiscal Turmoil Boosts US Dollar
According to ChainCatcher, citing Jinse Finance, renewed concerns over UK finances are weighing on risk sentiment and boosting the current rise of the US dollar, after reports that the UK government will abandon plans to raise income tax in the November 26 budget. Analysts at Monex Europe stated that this news has injected a risk-off sentiment into the market, providing upward support for the US dollar. The dollar has also been helped by recent comments from Federal Reserve officials, which have cast doubt on the prospect of another rate cut in December.
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According to market sources, the initial public offering (IPO) of smart ring manufacturer Oura in the US stock market has reportedly been oversubscribed by approximately four times.
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Smart ring manufacturer Oura's IPO was oversubscribed by approximately four times, planning to issue 50 million shares at a maximum price of $44 per share, aiming to raise up to $2.2 billions, with a fully diluted valuation of about $15 billions. Against the backdrop of companies like Holtec Nuclear withdrawing their IPO plans due to market conditions, Oura is expected to become the first major IPO in nearly three months to raise over $1 billion, injecting new vitality into the long-dormant U.S. IPO market.
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