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Yuan Gains Global Prominence through China’s Belt and Road Initiative

China’s ambitious Belt and Road Initiative (BRI) is propelling the international adoption of the yuan. This massive infrastructure and energy project connecting Asia, Africa, and Europe has spurred a surge in the yuan’s global utilization. In a significant shift, SWIFT data reveals that the yuan’s share of global payments skyrocketed to 3.71% in September, up […]

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Australian Dollar Regains Bullish Footing as China Looks to Relax COVID Restrictions

On Tuesday, the Australian dollar (AUD) recovered as sentiment climbed on expectations that China will reopen following COVID shutdowns that have heightened concerns about global development. In contrast, the US dollar (USD) fell slightly across the board today. Health officials in China said on Tuesday that they would speed up the COVID-19 immunization program for […]

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