ASX 0.33% $84.02 asx limited

us dollar tsunami

  1. 5,302 Posts.
    The pound stormed to as high as $2.1021 in trading in London, a level not seen since the early Thatcher era, and many currency experts now predict it go higher despite signs that the UK economy is slowing.

    China has $1.33 trillion of foreign-exchange reserves
    The greenback's renewed weakness was sparked by comments from Cheng Siwei, vice chairman of China's National People's Congress, who suggested China will diversify some of its $1.33 trillion (£660bn) of foreign-exchange reserves.

    Mr Siwei told a conference in Beijing: "We will favour stronger currencies over weaker ones, and will readjust accordingly."

    Everything getting set for the $US to be devalued and the ushering in of the new currency.


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