Browsing Tag

currencies

Risk Aversion Prompts Safe Haven Flows

US dollar remains firm across on the board as risk-off dominates. FOMC meeting unlikely to surprise and Empire manufacturing should remain firm, while German Zew confidence dropped to 14.1, below expectations. Growth-sensitive currencies…

On Modern Money

The essential idea is that the “money supply” in an “entrepreneurial economy” is demand-determined – as the demand for credit expands so does the money supply. As credit is repaid the money supply shrinks. These flows are going on all the…

The dollar, the RMB and the euro?

By Michael Pettis Barry Eichengreen had a very interesting piece in last week’s Wall Street Journal. In it he argues that we are approaching the end of the period in which the US dollar is the world’s dominant reserve currency, and…

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