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Daily Dispatches

BRICs bank seeks move away from funding in dollars

Section: Daily Dispatches

By Tom Hancock
Financial Times, London
Monday, August 5, 2019

The New Development Bank, a lender owned by Brazil, India, Russia, China, and South Africa, is aiming to almost double its lending this year and shift its loan book away from the U.S. dollar to emphasize lending in local currencies.

Yuan's slide is watershed moment for China

Section: Daily Dispatches

By George Magnus
Bloomberg News
Tuesday, August 6, 2019

Trump imposes total U.S. freeze on Venezuelan government assets

Section: Daily Dispatches

By Makini Brice, Eric Beech, Matt Spetalnick, and Roberta Rampton
Reuters
Monday, August 5, 2019

WASHINGTON -- President Donald Trump today imposed a freeze on all Venezuelan government assets in the United States, sharply escalating a diplomatic and sanctions drive aimed at removing socialist President Nicolas Maduro from power.

China limits yuan's fall after being labeled currency manipulator

Section: Daily Dispatches

By Tian Chen
Bloomberg News
Monday, August 5, 2019

China took steps to slow the yuan's descent as the effects of Monday's tumble continued to weigh on markets.

This year more than ever, gold and silver investors should be in New Orleans

Section: Daily Dispatches

9:53p ET Monday, August 5, 2019

Dear Friend of GATA and Gold:

GATA Chairman Bill Murphy and your secretary/treasurer again will be speaking at the New Orleans Investment Conference this year, and in the letter below the conference's organizer, Gold Newsletter Editor Brien Lundin, explains why you should join us there.

Pot calls kettle black as U.S. labels China a currency manipulator

Section: Daily Dispatches

The irony here is immense. The U.S. has just denounced China for withdrawing central bank support for its currency and thus letting its currency be valued by the market, while the U.S. government itself secretly trades in the currency and commodity markets and won't come clean about it even when a member of Congress asks:

http://gata.org/node/18210

http://gata.org/node/18832

Slide of China's yuan had OK of policymakers, sources tell Reuters

Section: Daily Dispatches

By Keith Zhai and Zheng Li
Reuters
Monday, August 5, 2019

Chinese monetary authorities let the yuan slide past the key 7-per-dollar level so that markets could finally factor in concerns around the Sino-U.S. trade war and weakening economic growth, three people with knowledge of the discussions said today.

Swiss central bank sight deposits hit record, suggesting FX interventions

Section: Daily Dispatches

By Catherine Bosley
Bloomberg News
Monday, August 5, 2019

The Swiss National Bank may have intervened to tame the franc's rise, with record-high sight deposits pointing to currency market activity.

Ambrose Evans-Pritchard: Currency war begins as China hurls devaluation back in Trump's face

Section: Daily Dispatches

By Ambrose Evans-Pritchard
The Telegraph, London
Monday, August 5, 2109

China has hit back against the Trump administration with a drastic exchange rate devaluation, almost guaranteeing a superpower showdown and a lurch towards full trade war.

Dollar intervention risk rises as yuan's slide stokes currency war bets

Section: Daily Dispatches

By Ruth Carson and Masaki Kondo
Bloomberg News
Monday, August 5, 2019

The risk of U.S. intervention to rein in the dollar is rising as a tumbling Chinese yuan stokes speculation that a global currency war is getting underway.

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