The Canadian dollar may have more strength and power in the upswing. Bank of Canada Governor David Dodge thinks that inflation may hit as high as 3 % before it can slide down to 2 % which is the bank’s target. Iran has demanded that Japanese refiners switch to the yen currency to offset the risk that U.S. dollar transfers may be frozen through increased sanctions. It is likely that Iran will request Euro currency from the Europeans, as they had previously suggested Iran . Iran is also cutting its dollar reserves to less than 20 % of their total foreign currency holdings, preferring euros and yen going forward. The U.S. dollar is being hit all over the place, though it may be the perfect tonic for America’s trade deficit.
Sphere: Related Content
Leave a comment
Trackback URL for this entry | Commentfeed