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The US dollar is enjoying a firmer bias today, but it remains narrowly mixed on the week. It is within well-worn ranges. Of the several themes that investors are focused on, there have not significant fresh developments.
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Saudi Arabia and Iran may yet come to terms on some sort of production arrangement, but the outcome of the negotiations in Algeria this week may not do much to rescue oil prices. Following the media spectacle, the oil markets may have to shift their attention back to the supply and demand fundamentals, which are not reassuring.
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On October 1, the Chinese renminbi officially joins becomes the fifth international reserve currency. Until recently, Washington played geopolitics to defer the renminbi’s internationalization. However, what about Wall Street? Read More
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| It became clear I
wanted to be a development economist. I mean, I said I wanted to work on the economics of poor countries. And I'd actually say that I don't think that was so much about narrowing the gap as about increasing their incomes, which means economic growth, which is really my prime interest. - James Mirrlees | |
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