Tuesday 22 March 2022 – Vol.13 Ed.12.2
Commentary: Russia sanctions, the renminbi and the dollar’s future
By Mark Sobel in Washington
The dollar’s global dominance remains well entrenched. Yet every ripple in international finance engenders a tedious new round of chatter – will the dollar lose its dominant status? With the imposition of severe financial sanctions on Russia, rumblings that China will provide Russia a lifeline and rumours Saudi Arabia will denominate oil prices in renminbi, markets are once again abuzz about the dollar’s future global financing role.
Read the full commentary on the website.
Commentary: Cryptocurrency failing to take advantage of crisis
By Philip Middleton in London
In Russia’s assault upon Ukraine, some cryptocurrency enthusiasts have declared this is a chance for crypto to prove its worth and the scales to fall from the eyes of sceptics and reluctant governments. But in circumstances which could have been tailor-made as a test bed for cryptocurrencies, like Arthur Conan Doyle’s hound, crypto has largely failed to bark. For each of the three crypto tribes – the true believers, speculators and pragmatists – this is disconcerting.
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