Dollar Hits New 2023 High on Bets the Fed's Inflation Fight Isn't Over
Traders' belief that the central bank will have to hold rates at a higher level for longer has powered the buck to 10 straight weeks of gains.
Source: businessinsider.com
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China's Economic Woes Mount With the Yuan Plunging to a 16-Year Low
The onshore yuan languishes around 7.32 per dollar, its weakest since 2007, even after the People's Bank of China intervened to curb the slump.
Source: businessinsider.com
De-Dollarization Won't Happen Anytime Soon, Indian Minister Says
The buck is likely to remain the dominant currency in international trade, India's oil and gas minister Hardeep Singh Puri told CNBC.
Source: businessinsider.com
Dedollarization Suffers a Blow As Global USD Payments Hit Record High
The international drive to end the dollar's dominance has suffered a blow, with the greenback's role in global payments hitting a record high.
Source: businessinsider.com
Dollarization: Argentina Needs a Recession to Fix Peso Crash, Expert Says
Argentina needs a recession - not dollarization - to fix its plunging currency, according to Robin Brooks, chief economist at the Institute of International Finance.
Source: businessinsider.com