
#3 - Why is everyone so obsessed with the BRICS currency? Guest: Jacob L. Shapiro
Macro Mondays
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Janet Yellen on Her Objectives With the Trip to China
We haven't seen too many darvish or detent moves on trade and on finance, but this might be a step in that direction. It looks like the Biden administration is very keen on keeping the communications lines open and developing personal one-on-one relations with the Chinese officials. By the time of this recording, we haven't heard any rhetoric from Janet Yellen on the exchange rate between the dollar and the Chinese Yuan. What we can sort of note already at this stage is that dollar Yuan is trading at plus 720 levels, closer to 725. We haven't heard almost a single word from the US administration on the weakening of the Chinese Yuan versus the dollar, which is
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