Corpay Inc Extends Partnership with West Ham United
Corpay Inc, a provider of business payments solutions, has extended its partnership with West Ham United, a Premier League football club. The partnership, which began in 2018, will continue to provide West Ham United with foreign exchange management and cross-border payment solutions.
Partnership Details
- The partnership will continue to provide West Ham United with foreign exchange management and cross-border payment solutions.
- The partnership is part of Corpay’s efforts to expand its services and strengthen its presence in the global market.
US Dollar Performance
The US dollar has experienced a mixed performance in recent times. Economic data indicates that American consumers are growing more cautious due to trade and inflation uncertainty. The dollar has pared losses and traded firmer on the yen.
Shift in Currency Preferences
A trend is emerging where exporters are no longer wanting to receive dollars. Companies such as US Bancorp have reported that their foreign counterparties are now asking for settlement in euros, Chinese renminbi, or other local currencies. This shift is driven by a desire to limit exposure to further swings in the dollar’s value.
Gold as a Safe-Haven Asset
Gold has emerged as a new safe-haven asset, with its price surging to a historic high. Experts believe that this trend is driven by a change in investor behavior, with investors increasingly seeking to diversify their portfolios and reduce exposure to traditional safe-haven assets such as the dollar and US Treasuries.
Key Statistics
- The dollar has pared losses and traded firmer on the yen.
- Gold prices have surged to a historic high.
- Investors are increasingly seeking to diversify their portfolios and reduce exposure to traditional safe-haven assets.