Yuan inclusion in SDR basket inevitable

The IMF is due to re-examine the composition of its currency basket for Special Drawing Rights, a foreign-exchange reserve asset for fund members, later this year says Zhao Yongsheng.

“Our assessment now is that the substantial real effective appreciation [of … Read the rest

The IMF is due to re-examine the composition of its currency basket for Special Drawing Rights, a foreign-exchange reserve asset for fund members, later this year says Zhao Yongsheng.

“Our assessment now is that the substantial real effective appreciation [of … Read the rest

Strong dollar a threat to Eskom and South Africa

In the world of economics, one policymaker towers above all others. The head of America’s central bank, Janet Yellen, presides over a $17 trillion economy. The empire of her nearest competitor, Mario Draghi, amounts to a relatively puny $10 trillion. … Read the rest

Petrodollars quit world markets for first time in 18 years

Energy-exporting countries are set to pull their “petrodollars” out of world markets this year for the first time in almost two decades, according to a study by BNP Paribas.

Driven by this year’s drop in oil prices, the shift is … Read the rest

Will China enter the heart of global finance?

The issue of whether the Chinese should be part of the International Monetary Fund’s Special Drawing Right, the composite reserve currency used in official financing, is highly technocratic, but the political questions at stake go to the core of world … Read the rest

Central banks’ investment in yuan puts currency near reserve status

At least 40 central banks have invested in the yuan and several others are preparing to do so, putting the mainland currency on the path to reserve status even before full convertibility, Standard Chartered said.

Twenty-three countries have publicly declared … Read the rest

At least 40 central banks have invested in the yuan and several others are preparing to do so, putting the mainland currency on the path to reserve status even before full convertibility, Standard Chartered said.

Twenty-three countries have publicly declared … Read the rest

Gold rises sharply on Fed interest-rate outlook

Gold futures jumped the most in 14 weeks as the Federal Reserve said U.S. interest rates will remain low, driving the dollar lower and boosting demand for the precious metal as an alternative investment.

According to Bloomberg, the greenback fell … Read the rest

The euro will remain the world’s favourite tradeable currency

With the rise of Bitcoin and general hostility towards so-called fiat currencies, notwithstanding the euroskeptic animosity towards the euro, many people are speculating about the ultimate demise of the euro. However, as French politician Marine Le Pen recently intimated to … Read the rest

The Fed is the Great Deceiver

pcrBy Paul Craig Roberts and Dave Kranzler.

Is the Fed “tapering”? Did the Fed really cut its bond purchases during the three month period November 2013 through January 2014? Apparently not if foreign holders of Treasuries are unloading them.

From … Read the rest

Major banks admitting the dollar is in trouble

oxywashingtonOn Feb. 16, a Bank of America analyst announced that the global economy is giving out clear warning signs that the dollar is entering into serious trouble, which adds more credence to John Williams recent assertion that 2014 will be … Read the rest