Rivalry with China, fallout from Russia’s war in Ukraine and wrangling once again in Washington over the U.S. debt ceiling have put the dollar’s status as the world’s dominant currency under fresh scrutiny. Russia’s sanctions-imposed exile from global financial systems last year also fuelled speculation that non-U.S. allies would diversify away from dollars. Below are […]
China’s yuan has held its own against the dollar in recent weeks but that’s only masking a broader depreciation that may be set to accelerate. The currency this week slid to the lowest level in more than four months versus a currency basket of its major-trading partners, according to a Bloomberg replica of the official […]
China has dramatically increased use of the yuan to buy Russian commodities over the past year, with nearly all of its purchases of oil, coal and some metals now settled in the Chinese currency instead of dollars, people familiar with the matter said. Chinese imports of major commodities from its northern neighbour totalled $88.3 billion […]
In a country shaken by years of political volatility, Peru’s national currency has emerged as a mainstay of relative stability among Latin American foreign exchange markets, reaching its strongest level in a year this week. After taking a hit during the nearly two-year presidency of Pedro Castillo, the Peruvian sol is bouncing back just months […]
The U.S. dollar rose against the euro and sterling on Thursday and set a more than one-week high against a basket of its major peers as traders sought safety after a series of economic data prompted a reassessment of their outlook for global monetary policy. The number of Americans filing new claims for unemployment benefits […]
Most Asian currencies retreated on Friday, coming under pressure from uncertainty over U.S. monetary policy following mixed economic readings this week, while the dollar stuck to a 10-day high amid dwindling bets on interest rate cuts this year. Risk-driven assets were set for a tough week following signs of sticky U.S. inflation, as well as […]
