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The latest software has several deficiencies, but this isn't one of them.

Copy, then hold down the Option key while pasting, by keyboard or menu. In the Edit menu, "Paste Item" will change to "Move Item Here".

Even though it's not as discoverable as it should be, this is a well-reasoned UI move on Apple's part. Even on Windows, cut & paste has different semantics for files than for text, and this solution sidesteps the weird "cut-in-progress" mode and inability to paste again.

I stand informed. Thank you very much.

Hold Cmd when dragging and dropping to move files (i.e. 'Cut and paste', which is a daft name for it)

If the folder you're moving to isn't readily available just Cmd+N to open a new window, etc.

With XtraFinder it has cut & paste, and much more http://www.trankynam.com/xtrafinder/