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20 Jun 2024

SNB Cuts Rate Again to Aid Economy and Stem Gains in CHF

The Swiss National Bank cut borrowing costs again to loosen constriction on the economy and stem gains in the franc, a move that contrasts with the hesitancy of global peers over easing.
Officials in Zurich lowered their benchmark by 25 basis points to 1.25% on Thursday after a decision that observers found hard to predict.

Source: Bloomberg

17 Jun 2024

The US Dollar's reserve currency status remains in a downtrend:

The US Dollar share of the world's central banks reserves fell slightly to 58.4% in Q4 2023 from 59.2% in Q3 2023, according to the IMF. By comparison, the US Dollar accounted to 71% of reserves globally in 2000. However, it is worth noting that the US Dollar remains the most dominant currency and it's not even close. For example. the Chinese Yuan's share in Q4 2024 was just 2.3% and the Euro's share is ~20%. Is the US Dollar's reserve currency status safe? Source: The Kobeissi Letter, BofA

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

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