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IMF view boosts global reserve currency prospects for Renminbi
Weekly investor research
05 May 2015
The significance of the IMF’s view that China’s currency is close to being fairly valued for the first time in a decade is that it brings the Renminbi a step closer to attaining global reserve currency status. Brazil returned to primary surplus in March, but the adjustment still has a long way to run. Russia’s central bank cuts rates by 150bps. The door to Saudi’s stock market opens on 15 June for large institutional investors. In the global section, we discuss the damage to the US economy caused by the strong Dollar and outline the policy options available to the Fed and the Treasury if markets continue to push the Dollar higher.