Today Russian President Vladimir Putin declared war against the hegemony of the U.S. Dollar. Of course, he couched the declaration in a statement saying Russia would work to counter the ‘excessive domination’ of certain reserver currencies. The comments were published in an article in the runup to the BRICs summit…
The Czech Republic removed the cap on the currency, the crown, against the euro last Friday as inflation was seen under control and the cap no longer necessary. The Czech National Bank had kept the crown at less than 27 to the euro since 2013. The volatility after the action…