Despite oil trades being recently settled in the yuan and ruble, the U.S. dollar’s prominence in this market is here to stay. India’s oil and gas minister said that international payment systems “have been in place for a long time” and that to displace the dollar is “not so easy”. Oil trades have sometimes been … Read more
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TOKYO (AP) — Asian shares mostly fell Wednesday after worries about the U.S. banking system set off a decline on Wall Street and amid concerns closer to home about Chinese economic growth. Japan’s benchmark Nikkei 225 lost 0.2% to 32,323.31 in morning trading. Australia’s S&P/ASX 200 was virtually unchanged, edging up less than 0.1% to … Read more
Wall Street futures slid Tuesday after new data showed sharp declines in Chinese exports and Moody’s downgraded the credit ratings of a number of smaller U.S. lenders. Futures for the S&P 500 fell 0.7% and the Dow Jones Industrial Average gave up 0.6% before the opening bell. Data on Tuesday showed that China’s exports plunged … Read more
Mexico’s peso posted its seventh-straight month of gains, the longest such streak in 15 years, with the currency’s carry trade appeal unshaken by warnings the rally has left it overpriced. The currency, which is hovering near its strongest level since 2015, gained 2.3% this month. Its more than 16% rise this year makes it the … Read more
The U.S. dollar has been king in global trade for decades — not just because the U.S. is the world’s largest economy, but also because oil, a key commodity needed by all economies big and small, is priced in the greenback. Most commodities are also priced and traded in U.S. dollars. But since the Federal … Read more
Crypto prices should be viewed more like internet stocks than currency, said Brian Brooks, the former U.S. Acting Comptroller of the Currency during the Trump Administration. The biggest misunderstanding around cryptocurrencies is that if they’re “not doing a great job of replacing the U.S. dollar, then crypto is failing in its mission,” Brooks, now the … Read more
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email The U.S. dollar is the most powerful currency that exists today. Yet analysts have been warning of the dollar’s impending doom since its rise to prominence in 1971. 10:22 Fri, Apr 8 20228:00 AM EDT Source link