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10 Jun 2024

Euro sinks on EU vote and French snap poll.

Common currency falls to lowest in a month. Hedge funds had recently turned net bullish on the Euro. Source: Bloomberg, HolgerZ

7 Jun 2024

Japan likely dumped billions of U.S. Treasury holdings to finance its latest Yen intervention

Source: Barchart

27 May 2024

BREAKING 🚨: Argentina

Argentina's Peso has plummeted to an an all-time low against the U.S. Dollar on the Black Market (which is where Argentinians go to convert to USD) Source: FT, Barchart

21 May 2024

China now settles half of its crossborder trade in renminbi, up from zero in 2010

• Rise in RMB use highlights sanctions-proofing strategy of Beijing and its allies, such as Russia • China's promotion of CIPS, its homegrown alternative to Swift, may support rise in RMB use Source: Agathe Demarais

13 May 2024

Global foreign exchange reserves.

The US dollar still dominates but share has been eroding sligthly Source: Michel A.Arouet

6 May 2024

JUST IN 🚨: Treasury Secretary Janet Yellen says the Bank of Japan BoJ should consult with her before intervening to support Japanese Yen

Source: Barchart

3 May 2024

Bearish Bets against the Japanese Yen rise to highest level in AT LEAST the last 18 years 🚨

Source: Barchart, Bloomberg

3 May 2024

It's clear, Japan is intervening to support the Yen:

Twice this week, we saw the Yen fall to its weakest point against the US Dollar since 1990. This was the first time in 34 years that 1 US Dollar converted to 160 Yen. Immediately after the Yen neared 160 twice this week, we saw a steep drop in the conversion rate, strengthening the Yen. The BOJ reported Tuesday that its current account will fall 7.56 TRILLION YEN, or $48.2 billion USD. This was clearly due to intervention equating to 5.5 trillion Yen, which we last saw in 2022 and 2011. The third largest currency in the world is in trouble. Source: The Kobeissi Letter

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