The dollar was trading higher against most of its major rivals on Tuesday as traders eye the Fed’s rate statement and press conference on Wednesday amid uncertainty over the bank’s next move.Official data released Tuesday was mixed and largely ignored by traders who are more concerned by what the Fed has to say. U.S. consumer prices rose in line with expectations in May and consumer price inflation rose 1.4% from…
Victoria_Crowmberg's Blog
Shift From U.S. Dollar As World Reserve Currency Underway
Today, more than 60% of all foreign currency reserves in the world are in U.S.[url=http://www.munknee.com/wp-content/uploads/2013/04/dollar.jpg][/url]dollars – but there are big changes on the horizon…Some of the biggest economies on earth have been making agreements with each other to move away from using the U.S. dollar in international trade…[and this shift] is going to have massive implications for the U.S. economy. China has the second largest economy on the face of the earth, and the size of the Chinese economy is projected to pass the size of the U.S. economy by 2016 [/and]…