Tishwash: Sumaisem: America will not pump dollars into Iraq, and dealings will be in the digital currency … and Baghdad is forced to comply with the recommendations of the international monetary fund
Economic expert Salam Sumaisem said on the devaluation of the Iraqi dinar, that the dollar will be drained from its source in the US .Treasury, which will replace it with digital electronic money, Digital Dollar
Sumaisem added to the obelisk: We will then see how the smuggling of dollars continues, noting that only Iraq and its people will be the losers, and that .whoever trades in the Iraqi dinar will not benefit in anything
Sumaisem told Al-Masalla that draining the sources requires that there be a shortage of dollars that are pumped into the markets, referring to the issue of pursuing political money, as the financial decision-makers say that they cannot dry up the sources, but America, for example, has gone through the same crisis, especially after the decline
The US dollar fell a week ago on the global market by 8%, which prompted the Treasury to stop pumping more .dollars into the US market itself
Sumaisem considered that the Iraqi concerned authorities do not know how to act with the crisis.
Rather, they acted in a bad way in reducing the price .of the Iraqi dinar against the dollar “.
Sumaisem said, “It is true that this provides liquidity, but it will not solve the crisis
And she continued: America, for example, is moving now to the stage of digital money, which is digital money, and thus it will not pump more dollars into Iraq until it becomes scarce, and then it can pump a digital dollar. That every dollar has a number and circulation in it between the seller and the .buyer is known and limited.
It will also change the whole world, and for Iraq it will be a pivotal change Sumaisem revealed that the Minister of Finance signed a blank statement that he would implement all the recommendations of the International Monetary Fund. link
Harambe: Bloomberg: Traders Boost Bets Against Dollar to Highest in Almost a Decade
Speculative traders are ending the year doubling down on their bets against the dollar.
Net short non-commercial positions in futures linked to the ICE U.S. Dollar Index have surged to the most since March 2011, according to the latest Commodity Futures Trading Commission data. The gauge of the U.S. currency has fallen over 6% this year as investors turned against the greenback amid unprecedented monetary easing from the Federal Reserve and a move away from haven assets.
“Hedge funds are spoilt for choice when looking for reasons to be short the dollar,” said Vishnu Varathan, head of economics and strategy at Mizuho Bank Ltd. in Singapore. “We have a Fed that is committed to a paradigm shift in its policy that materially lowers the risk of policy normalization, and a rapidly widening twin deficit makes it easier for short dollar bets.”
A combination of negative U.S. real yields, extended valuations across American assets and a current account deficit that requires dollar depreciation to finance will likely weigh on the currency into next year, strategists at Goldman Sachs Asset Management wrote in a recent note.
The Bloomberg Dollar Spot Index was down 0.3% as of 6:55 a.m. in New York on Tuesday. Ten-year Treasury yields rose two basis points to 0.94%.
“We see depreciation in the dollar continuing into 2021,” the Goldman team said. “Liquidity dynamics and virus news flow may influence the timing of dollar weakness, but not necessarily the medium-term downtrend.”