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Euro zone reform needs to be done well, not quickly, Dutch finance chief warns

“The Netherlands is one of the most conservative countries when it comes to euro zone reform” writes Yuriko Nakao for cnbc.com. Euro zone reform needs to be done well rather than quickly, Dutch finance minister Wopke Hoekstra told CNBC on Thursday, despite calls from France to speed-up the integration process.France has been the most vocal euro member pushing for further reforms and integration. Source: cnbc.com Share This:

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Closer euro area integration ‘pays off,’ says Italy’s finance minister

“In a CNBC Facebook Live interview at the World Bank and International Monetary Fund’s Spring Meetings 2018 in Washington, Padoan said strengthening euro area reforms would build more trust across the bloc” writes unknown author for cnbc.com. Padoan said countries like Italy are “doing their homework” when it comes to reducing risk in the euro area in areas like non-performing loans and debt reduction. Source: cnbc.com Share This:

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Iran replaces dollar with euro in financial reporting

“TEHRAN- The Iranian cabinet on Wednesday ordered all state-run organizations and companies to replace U.S. dollar with euro in reporting their financial statements, IRNA reported” reports tehrantimes.com. The government also put the central bank in charge of managing and announcing rial-to-euro exchange rate continually. Central bank governor Valiollah Seif said on April 9 that Supreme Leader Ayatollah Ali Khamenei had welcomed his suggestion to replace dollar with euro in Iran’s foreign trade. “Dollar does not play a role in our foreign trade transactions,” Seif announced at the time. Source: tehrantimes.com Share…

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Why China’s Yuan, not the Euro, could become the dominant global currency

“So surely that should mean that the Euro becomes a dominant currency, right?” writes Claudia Romeo for businessinsider.com. What we have seen is the Euro when it was launched, was launched as a currency that represented a very disparate range of countries with very different fortunes.You had an interest rate that was set to suit the economies largely of the largest countries like Germany and France. Source: businessinsider.com Share This:

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Dollar index set to break 4-session losing run

“The ICE U.S. dollar index DXY, +0.28% which measures the buck against six rivals, was up 0.2% to 89.755, set to break a four-session skid lower” writes Markets Reporter for marketwatch.com. The dollar rose against the Japanese yen USDJPY, +0.43% buying ¥107.19 compared with ¥106.79 on Wednesday, reaching its highest level in four sessions.U.S. stocks traded higher on Thursday, with both the Dow Jones Industrial Index DJIA, +1.46% and the S&P 500 SPX, +1.03%  in the green. Source: marketwatch.com Share This:

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Global stocks pare gains with next phase of U.S.-China trade saga in focus, euro buoyant

“Oil prices remained elevated, after steep gains in the previous session, as the commodity markets eyed an escalation of Middle East tensions” writes Midwest Communications Inc for 95kqds.com. The euro has risen about 3 percent this year on expectations that the ECB would eventually normalize monetary policy and hike interest rates.”While China showed how far it can go, the markets won’t settle down until the two powers reach an actual agreement. Source: 95kqds.com Share This:

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The world’s 5th largest FX dealer will not move its Euro dealing operations to Europe. Let’s clear up yet another media storm

“Unlike equities, bonds or derivatives, the $1.7 trillion per day cash foreign exchange markets are not risk-managed through clearing houses but instead settled via London-based CLS International Bank” reports financefeeds.com. In particular, Lord Myners, along with senior regulators in London, had concerns relating to how clearing operations can be expanded across both exchanges. Source: financefeeds.com Share This:

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Trade war or not, weak dollar trades here to stay: Reuters poll

“Strategists have held on to a weak dollar outlook in Reuters polls since the start of last year” writes Midwest Communications Inc for 95kqds.com. While 16 respondents said the trade row will weaken the dollar further, the remaining nine said they had changed their view in favor of the U.S. currency.”But we do not expect either of that to happen, which means predictions for the dollar to weaken are set in stone for currency markets for a while now.”. While little short-term movement was predicted in the latest Reuters poll…

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