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Asia-Pac Takes a Hit as Fed Sticks to Guns on Rate Hike, Balance Sheet Normalization

Currencies in the Asia-Pacific region fell against the US dollar on Thursday morning after the Federal Reserve signaled that it would raise interest rates again this year and would begin shrinking its balance sheet in October. The Fed funds rate was left unchanged at its current range of 1–1.25%. Although the majority of economists had... View article >
Posted on 21 September 2017 | 4:36 am GMT
Author: Joel Wright

Venezuela Ditches the Dollar; Begins Pricing Oil in Yuan

In retaliation to US sanctions, in its latest weekly report Venezuela’s oil ministry has published prices for the country’s petroleum products in Chinese yuan, rather than US dollars. One barrel of Venezuelan oil will now cost buyers CNY 306.26 – equivalent to USD 46.76. Venezuela has the largest proven oil reserves in the world, at 300... View article >
Currency:
Posted on 19 September 2017 | 5:55 am GMT
Author: Joel Wright

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