Center for Research on Globalization - Dec 3, 2013
China and Russia are quitting US dollar or at least significantly cutting the dollar share in their forex reserves. Politically correct American analysts call this process �rapid forex reserves diversification�.
The loonie, as the Canadian dollar is known for the image of the aquatic bird on the C$1 coin, slipped 0.5% to C$1.0702 per U.S. dollar at 12:17 p.m. in Toronto. It reached C$1.0707, the lowest level since May 2010. One loonie buys 93.44 U.S. cents.
A strong run of US economic data and a particularly positive November employment report wasn't enough to lift the US Dollar as it fell against most major counterparts. Why is the Dollar so out of favor, and what could reverse its fortunes in the week ...
The Australian dollar has jumped more than three-quarters of a US cent after surprisingly strong Chinese trade data and good US jobs figures. At 0700 AEDT on Monday, the local unit was trading at 91.33 US cents, up from 90.50 cents on Friday.
The US Dollar managed to recover some ground against the Pound and Euro following the release of data which increased expectations that the Federal Reserve will begin scaling back its monetary easing programme.