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US must win CBDC race to maintain dollar s global reserve currency status: Federal Reserve Governor

Who doesn t love a good auction?

3/9/2021 4:50:07 AM GMT The rotational games continued with Wall Street overnight and are continuing to some extent in Asia this morning. Stock markets heavy with the winners of 2020 are suffering, while previously unloved markets heavy with boring banks, consumer staples, resource and property companies are catching more of the global recovery trade winds. Overnight, the tech-heavy Nasdaq was stretchered off the field, while the S&P 500, containing a mixture of both, limped off. The Dow Jones, as legacy as you get, meanwhile, enjoyed another warm day in the rotational sun. In Asia today, Mainland China markets are under pressure, along with South Korea and Taiwan, while ASEAN markets outperform once again. The North/South divide in Asia was laid bare in 2020, but a correction seems to now be underway, in line with my thoughts that ASEAN would outperform in 2021.

The US dollar pushes higher again - MarketPulse

The US dollar pushes higher again March 9, 2021SharePrint US dollar gains on US yields, inflation fears The dollar index pushed higher again overnight, rising 0.37% to 92.31. Rising US yields, structurally short positioning and a myopic fixation on growth-driven inflation continue to lift the greenback, notably versus G-7 and commodity currencies. Nowhere is that more apparent then EUR/USD, where the single currency has fallen to a 4-month low at 1.1800. With the ECB expected to be dovish this week, in contrast to Federal Reserve Governors’ nonchalance, the downward pressure is expected to continue. EUR/USD will target 1.1600 over the coming week if it breaks materially through 1.1800.

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