Dollar Gains Slightly Ahead of Jackson Hole
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Sterling gained against the dollar on Thursday after a survey showed that British businesses are having their best month in a year due to a rebound in the services sector, while investors also kept their focus on the Fed's Jackson Hole symposium.
Talk about privilege. The dollar is not just the currency of the United States; it is what's called the world's "reserve currency," where people and institutions park their money. But there's concern that policies out of Washington could erode that status to the benefit of the euro and China’s currency , the yuan.
With markets awaiting more developments after the White House gathered heads from Russia, Ukraine and the EU, the dollar is forming a temporary bottom around the 98.00 handle. Read more here
The nonprofit, Dollar For hit a major milestone this summer. Relieving more than 100-million dollars in hospital debt.
Kenya is in talks with China to convert dollar-denominated debt the East African nation owes its biggest bilateral lender to yuan and extend the repayment period, Treasury Secretary John Mbadi said.
The ruling freed Trump and his family from an enormous financial burden that once threatened to wipe out all his cash and force a fire sale of some of his most prized businesses. Since he won back the presidency, his net worth has increased by billions of dollars thanks to his cryptocurrency ventures.