UPDATE 1-MSCI EM currency index hits record high on skidding dollar, perky yuan | Yahoo Finance

The creating markets foreign money benchmark, which is dominated by Asian currencies comparable to China’s yuan , jumped as a lot as 0.6% to 1,737.80. Main banks are divided over the outlook for rising market currencies after a year-end euphoria noticed buyers pile in thick and quick. In the meantime BlackRock just lately upgraded native foreign money bonds to obese, saying underperformance year-to-date had made valuations extra interesting, particularly towards a backdrop of Treasury yields and the greenback stabilising.

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China’s digital yuan rekindles stocks in move to displace cryptocurrencies | South China Morning Post

China’s experiment with a digital foreign money is giving life to at least one small nook of the nation’s sluggish inventory market: data know-how service suppliers. Some cryptocurrencies could also be on their manner out.

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China looks to tap ‘sophisticated’ bitcoin tech as it builds digital yuan | South China Morning Post

China is tacitly backing bitcoin as an funding automobile, however not as a foreign money, because it rolls out its personal sovereign digital yuan and appears to harness blockchain know-how for its digital financial system.

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China's digital yuan will not topple the dollar, SEC official says | Reuters

China’s deliberate digital yuan is not going to dethrone the greenback, a prime Securities and Trade Fee official mentioned on Thursday, citing the expansion of so-called stablecoins backed by the buck.

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