Solomon Islands Dollars

Despite the UN tribunal ruling that China has “no legal basis” for its expansive claims in the South China Sea, China is digging in and saying they refuse to accept the decision. [Bill Haden. The South China Sea, Yale University Press.]

It might have been a light and shortened trading week for us, but it sure wasn’t a snoozer thanks to these central banker and other policymaker speeches! Did you miss any of them?

After dipping last week, the value of net long bets on the Greenback increased again. And the latest COT report from the CFTC reveals that the Greenback’s advance was broad-based. The Greenback continued to lose ground to the pound, though.

There seems to be a lot of confusion about the US dollar reserve currency status. The biggest fallacy is the belief the US $’s reserve status bestows some great benefits on the US economy.