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International bankers and foreign investors have an ongoing need for U.S. dollars, but cannot simply order them from the U.S. Treasury department in the way U.S. banks do.

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Global Rush on U.S. Dollars

International bankers and foreign investors have an ongoing need for U.S. dollars, but cannot simply order them from the U.S. Treasury department in the way U.S. banks do.

401(K) 2013

401(K) 2013

Global Rush on U.S. Dollars (Reuters)

International bankers and foreign investors have an ongoing need for U.S. dollars, but cannot simply order them from the U.S. Treasury department in the way U.S. banks do. Therefore, they buy them on currency exchange markets. The prices on those markets have risen in anticipation of a default on Oct. 17. “This isn’t reflecting a change in risk outlook, or a major fundamental risk to the economy or financial system, but a liquidity crunch based around one particular day,” said Chris Clark, rates strategist at broker-dealer ICAP in London.

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archive

Global Rush on U.S. Dollars

401(K) 2013

Global Rush on U.S. Dollars (Reuters)

International bankers and foreign investors have an ongoing need for U.S. dollars, but cannot simply order them from the U.S. Treasury department in the way U.S. banks do. Therefore, they buy them on currency exchange markets. The prices on those markets have risen in anticipation of a default on Oct. 17. “This isn’t reflecting a change in risk outlook, or a major fundamental risk to the economy or financial system, but a liquidity crunch based around one particular day,” said Chris Clark, rates strategist at broker-dealer ICAP in London.

Newsletter Signup.

Sign up to the Human Events newsletter

TRENDING NOW:

Feminism: False Advertising at its Finest.

CULTURE

Nigel Roars Back: Human Events Endorses Brexit Party.

FOREIGN AFFAIRS

Global Elites Started The Russia Nonsense.

U.S. POLITICS

Kassam Banned From Facebook on UK Election Day.

TECH

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