Good Reads
De-Dollarization Alert: China Set to Launch Alternative Global Payment System
n another move that could speed up de-dollarization, China is set to launch a payment system using digital currency. According to the Financial Times, the move could “reshape cross-border transactions, reduce reliance on the dollar, and draw Beijing closer to its ‘Belt and Road’ trading partners.” Read on »
US dollar weakens sharply against the Japanese yen after market interventions
Even though it has attracted millions of bargain-hunting tourists, the yen’s prolonged weakness against the dollar has been a source of frustration for Tokyo. Since Japan imports so much of what it consumes, a weak currency pushes prices higher. High oil prices have amplified that problem and that’s putting pressure on the administration of Japanese Prime Minister Sanae Takaichi to do more to address the rising cost of living. Read on »
US copper inflows surge as market awaits Trump tariff call
Copper is pouring into the US at the fastest rate in at least 12 years as traders position ahead of President Donald Trump’s decision on tariffs on refined imports. The influx is being closely watched as the hoard has been built at the expense of supplies in the rest of the world. Inventories in LME warehouses outside the US have fallen sharply this year as traders diverted metal to American ports to capture higher prices. Read on »
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