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China moves ever closer to global reserve currency status

Weekly investor research

02 February 2015

The Chinese Renminbi has become the fifth most traded currency in the world and looks set to reach third place within the next three years. Brazil had a bad week. Russia cut rates. Saudi Arabia launched a major fiscal push. Dominican Republic went to town and Venezuela paid for the party. Sri Lanka’s new government has launched an ambitious political reform program. Mexico is cutting spending pre-emptively. Poland and The Philippines grew strongly. Belarus had an ‘Emerging Markets moment’. In the global backdrop, oil rose sharply on falling rig counts in the US, the US economy’s growth rate halved in Q4, the FOMC indicated its patience and European sentiment declined over Greece.

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