Russia and China to give up on The Dollar in their Trade

China and Russia have decided to abandon the dollar and to use their own currencies in bilateral trade. This was reported by the Drudge Report website, quoting the China Daily. Chinese experts say the decision reflects the increasingly 'close relations between Beijing and Moscow does not aim to challenge the dollar but to protect the Russian and Chinese economies. The financial crisis has prompted Beijing and Moscow to choose an alternative currencies to their trade.

Short The Euro : NY Forex Market Buzz - Mar 3

Forex TV - Aspen Trading Group's Dave Floyd covers mid-session forex trading.

Dollar Rise Continues Again

01/07/10 The US dollar continued to rise this session following an improvement in jobless claims figures

Dennis Gartman : Dollar will shoot skyward

Dollar Currencies Gartman
When the massive dollar carry trade unwinds, the greenback will shoot up

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Dollar Falls to 2009 Low Sep. 09 2009

The Currency Report - U.S. Dollar

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Is it the end for the Dollar ?

Dollar Dethroned?

Debating whether the dollar could be dethroned, with Steve Forbes, Forbes; David Gilmore, Foreign Exchange Analytics; and CNBC's Larry Kudlow.
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Bet on the Euro Rising to $1.47 dollars says Hellemeyer

More turmoils in the Currency front for the US if the monetary and structural problems of America are not addressed

America seems still in recession while the rest of the world seems to be pulling out it quicker the dollar may collapse as a result of US economic policies once the solidarity amongst the G20 members evaporates especially from China and Russia which has the third largest foreign currency reserve in the world mostly in US dollars says Folker Hellmeyer i the chief analyst at Landesbank Kreditanstin from Bremer Germany , he talks with Bloomberg's Rishaad Salamat about the outlook for the dollar. Hellmeyer says the Euro will soon reach $1.47 as Europe shows signs of recovery especially Germany and France while USA is still suffering from a large deficit and structural imbalances that if not addressed could have the dollar as the victim of these policies says Hellmeyer he agrees on this with re known economist Nouriel Roubini . Hellmeyer speaks from Bremen, Germany.


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US dollar likely to stay weak in the medium term

The US dollar is likely to stay weak in the medium term as massive volume of liquidity gets pumped into the system, said Aditya Samant, a partner at Black Swan Capital.

Kiwi and Aussie Dollars on the rise while the US dollar drops

While China's central bank today backing off statements made on Friday in which it reiterated the need for a new global reserve currency away from the dollar , The US dollar and yen dropped versus most of their major counterparts as a report showed confidence in the European economy increased and U.S. stocks rose, encouraging investors to buy higher-yielding assets. The Swedish krona was the biggest winner against the dollar among the 16 most-traded currencies as investors bought Scandinavian debt. The Euro gained the most versus the yen in four weeks as improvement in European executive and consumer sentiment added to signs record low rates are helping pull the euro area out of a recession
The Australian and New Zealand dollars rose, heading for their best quarter against the greenback since at least 1985, as optimism the global slump is easing buoyed demand for higher-yielding assets.

The two currencies gained for a sixth day versus the U.S. dollar after regional stocks advanced.

Australian Dollar Climbs on Yield Demand; kiwi dollar Weakens on GDP

By Garfield Reynolds and Theresa Barraclough

June 26 (Bloomberg) -- Australia’s dollar rose for a fourth day as stocks climbed on speculation investors will buy higher- yielding assets amid signs of a global recovery. New Zealand’s dollar fell after the country’s economy shrank at a faster pace.

Australia’s dollar strengthened against all of the 16 major currencies as prices rose for gold and oil, the nation’s third- and fourth-most valuable commodity exports. New Zealand’s dollar fell against the greenback and all of the most-traded currencies after the statistics bureau said gross domestic product declined 1 percent last quarter, exceeding the median estimate for a 0.7 percent contraction in a Bloomberg News survey.

“We are seeing higher risk appetite across the board,” said Sharada Selvanathan, a currency strategist at BNP Paribas SA in Hong Kong. “With equity markets remaining stable, investors are happy to put their money into good use. The Aussie will do well.”

Australia’s currency gained 0.5 percent to 80.62 U.S. cents as of 1:31 p.m. in Sydney from yesterday in New York. It climbed 0.4 percent to 77.31 yen. New Zealand’s dollar weakened 0.2 percent to 64.40 U.S. cents and slid 0.2 percent to 61.78 yen.

Benchmark interest rates are 3 percent in Australia and 2.5 percent in New Zealand, compared with 0.1 percent in Japan and as low as zero in the U.S., attracting investors to the South Pacific nations’ assets. The risk in these so-called carry trades is that currency market moves can erase profits.

Australia’s dollar may strengthen to as high as 86 U.S. cents by the end of the third quarter, Selvanathan said.
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Dollar Forecasts in Dissaray

Forecasts on the direction of the Dollar is in disarray. One strategist says even the best paid professionals out there don't know what is going on.is it the death of the dollar as a reserve currency ...time will tell...

Russia has full confidence in the Dollar

June 13 2009 Russia has full confidence in the dollar and there are no immediate plans to switch to a new reserve currency, Finance Minister Alexei Kudrin said.

“It’s too early to speak of an alternative” to the dollar, Kudrin said in Lecce, Italy, in a television interview today after meeting with finance chiefs from the Group of Eight nations. The fundamentals of the dollar are still in “good shape.”

Russia’s central bank said on June 10 some reserves may be moved from U.S. Treasuries into International Monetary Fund debt, reiterating comments made last month by Kudrin. That drove Treasuries and the dollar lower. Kudrin said yesterday that Russia’s announcement on May 26 to buy $10 billion of IMF bonds did not represent “a significant change” in his country’s stance on the dollar.

The dollar declined against a majority of the most-traded currencies as Brazil and Russia joined China in saying they would shift some $70 billion of reserves from U.S. Treasuries into multicurrency bonds. The dollar’s drop also reflected concern that record debt sales and deficits will erode the value of the U.S. currency.

The dollar dropped 0.4 percent to $1.4016 per euro yesterday, from $1.3968 on June 5. The U.S. currency fell 0.2 percent to 98.43 yen, from 98.64 yen a week earlier. The euro was little changed at 137.89 yen, from 137.81 yen.

Dollar MFV $84.28 with the trend line at $85.00.

Lack Of Direction Within The Money Markets

06/03/09 The money markets continued to seek a direction this session as moxed data led to mixed results.