Monday , 19 August 2019

Tag Archives: yuan

Weighing the Mnuchin Factor: Dollar Might Be Heading for Devaluation

The dollar is overvalued, US Treasury Secretary nominee Steven Mnuchin said, echoing the remarks made previously by President Donald Trump, suggesting the new administration might take conscious and coherent steps to devalue the greenback in order to boost domestic production. Kristian Rouz – As the new US administration begins to take shape, it is reconsidering the nation’s approach to foreign …

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China reportedly planning to back the #yuan with #gold

According to media reports of early July, the People’s Bank of China is mulling the possibility of phasing out the dollar as the reference currency for the yuan exchange rate, and to start using gold as the reference point. The reports have not been confirmed officially, but analysts are warning that the step, if taken, will weaken the yuan and …

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