Over the past few months, there has been a steady uptick in the number of countries dumping significant portions of their dollar holdings. This is causing many people to worry whether or not the US economy is in for a massive shock sooner, later, or somewhere in between.
“Mainland it is laying the ground for the Belt and Road Initiative, and China is even sweetening the pot by offering swap facilities to local countries to promote the use of the yuan,” Stephen Innes, Head of FX Trading for OANDA in the Asia Pacific told RT.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.