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The Latest Breaking News from US Dollar

Why the pound has shot up while UK economy is struggling – expert Q&A

When Liz Truss and Kwasi Kwarteng’s tax-cutting mini-budget triggered a UK debt crisis in autumn 2022, the pound plummeted to almost parity with the US dollar. In 2023 the UK has endured weak growth, falling productivity and high inflation, yet the pound has been the strongest performing currency among the…

The Conversation

BRICS Nations To Introduce Gold-Backed Currency, Challenging Dollar’s Hegemony

New currency aims to boost intra-BRICS trade and pose a major challenge to the US dollar's dominance.

Zenger

Record gas exports plump energy and resources windfall

Fallout from Russia's invasion of Ukraine and a strong US dollar have helped deliver estimated record earnings for Australian resource and energy exports.

AAP

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Why US 'dollar doomsayers' could be wrong about its imminent demise

The position of the US dollar in the global league table of foreign exchange reserves held by other countries is closely watched. Every slight fall in its share is interpreted as confirmation of its imminent demise as the preferred global currency for financial transactions.

The Conversation

Binance.US prepares to suspend US dollar deposits and withdrawals from exchange

Company tells customers to withdraw their US dollars days after US regulators sued the company and its founder

The Guardian - UK

The US Dollar is Ready to Flex its Muscle, Again

The United States dollar is the world's most dominant reserve currency, accounting for over 60% of all foreign exchange reserves held by central banks around the globe. The King of currencies has a seasonal buy that may advance it to higher levels.

Barchart

Irish actor tells how he was scammed into 'performing simulated sex acts' by 'Con Queen of Hollywood'

Dubliner Eoin O'Brien, 45, said he was left 15,000 dollars (€14,000) out of pocket by the alleged mastermind of a 1.0 million US dollar (€930,000) scam against more than 300 victims between 2013 and 2020.

Irish Mirror

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War in Ukraine might give the Chinese yuan the boost it needs to become a major global currency -- and be a serious contender against the US dollar

The Chinese economy’s sheer size and rapid growth are impressive.

The Conversation

KTAM sets out investor risk factors amid US uncertainty

Krungthai Asset Management (KTAM) has highlighted three factors that warrant caution for investors, urging them to sell US dollars, US bonds and US tech stocks amid ongoing uncertainties.

Bangkok Post

BoT mulls easing yuan-baht trade payment

The Bank of Thailand plans to relax rules for yuan-baht trade payment supporting local currency settlement, reducing reliance on the US dollar.

Bangkok Post

Yellen warns of 'constitutional crisis' in US debt ceiling showdown

US Treasury Secretary Janet Yellen has urged lawmakers to find common ground and raise the country's borrowing limit. Speaking to ABC News, she also warned that the idea of invoking the 14th amendment to raise the debt ceiling could lead to a "constitutional crisis". Also, the Financial Times reports that…

France 24

Farmers in South Africa face power cuts and a weak rand - but a number of factors are working in their favour too

Winter is an important season for South African agriculture, with some of its key field crops being produced during the cold months of June, July and August, and maturing after that, with harvesting in December. Preparation of the land for winter crops begins in April, which is also the same…

The Conversation

Dollar divorce: Emerging markets seek alternatives to US currency

For decades, the US dollar has been king on the global stage. But more and more countries are looking to reduce their dependence on the American currency, saying they want to "de-dollarize" their economies. How realistic are their plans, and how would they work? Kate Moody talks to Ruchir Sharma,…

France 24

De-dollarisation: why are countries looking to ditch US currency?

The long reign of the US dollar as the world’s reserve currency may be drawing to a close as non-Western and emerging economies look for alternatives to the greenback.

The Week

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Barchart

What Could Replace the US Dollar as World Reserve Currency?

For the past 90+ years, the US Dollar has been the reserve currency of the world. Yet in recent years, that dominance has been shrinking. Speculation has been surging that there is a new challenger on the horizon to ultimately unseat the Greenback. What will it be?

Asharq Al-Awsat

Syrian Pound Sets New Low, Gov. Unable to Find Solution

The Syrian pound recorded a new decline in the black market in regime-controlled areas, exceeding 8,000 against the US dollar, despite the increase in foreign remittances received during the holy fasting month of Ramadan and Eid al-Fitr. Economists explained that the decline continued with the ongoing economic crisis and the…

Bangkok Post

Banks eye yuan-baht trade payments

The Bank of Thailand is in discussions with China's central bank over supporting the use of yuan-baht settlement to mitigate foreign exchange risk amid ongoing US dollar volatility.

Bangkok Post

Brazil's Lula throws Brics at the US dollar

The writing was on the wall. But when Brazil's left-wing president Luiz Inacio "Lula" da Silva visited China recently, he flamboyantly underscored economic and security ties between Latin America's largest democracy and the world's largest dictatorship. Significantly he took steps to decouple much of Brazil's vibrant commerce from using the…

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The New Daily

Alan Kohler: America has no friends, only interests – and the world’s reserve currency

A lower US dollar is not only likely, it’s already happening – the US dollar index has depreciated 10 per cent in five months.

Asharq Al-Awsat

Brazil's Lula Criticizes US Dollar and IMF during China Visit

The two countries have recently announced a deal to trade in their own currencies, dropping the dollar as an intermediary.

The Guardian - UK

Sterling dips from 10-month high against dollar; JP Morgan profits jump 52%; US retail sales drop – as it happened

The pound strengthened as data showed US economy cooling, before Fed policymaker vowed to press on with interest rate rises

Bangkok Post

Chinese yuan strengthens to 6.8764 against USD Monday

BEIJING: The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 74 pips to 6.8764 against the US dollar Monday, according to the China Foreign Exchange Trade System.

The Conversation

Foreign exchange: several African countries have a shortage of US dollars - why this happens and how to fix it

A number of African countries, including Kenya, Egypt, Zimbabwe, Nigeria, Ghana and Zambia, are currently experiencing shortages of US dollars. The dollar is the dominant currency in international transactions. These countries rely on the US currency to pay for foreign debts, essential goods and industrial inputs. Development economist Christopher Adam…

Radio France Internationale

'Petrodollar' at risk as TotalEnergies sells LNG to China in yuan

Chinese and French energy companies this week finalised the first-ever deal on liquified natural gas (LNG) in China settled in the renminbi yuan currency. The trade, involving 65,000 tons of LNG imported from the United Arab Emirates, marks a major step in Beijing's attempts to undermine the US dollar as…

The Conversation

What central banks are doing to safeguard financial stability and why they must proceed with caution

Before a crucial week of interest rate decisions for central banks, and on the eve of the emergency takeover of banking giant Credit Suisse, the Bank of England and five other major central banks announced a coordinated effort to boost the flow of US dollars through the global financial system.

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Luiz Inácio Lula da Silva

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