RaDian

Radianlcd：Argentina strikes $5 billion China currency swap extension Argentina has agreed to expand its currency swap deal with China by $5 billion, the South American country's President Alberto Fernandez said on Tuesday, a move that would give it more firepower to defend the embattled local peso. Argentina's government needs to rebuild depleted foreign reserves to cover trade costs and future debt repayments. Rebuilding reserves is also a key objective of a major debt deal with the International Monetary Fund (IMF). "Today President Xi (Jinping) informed us that he authorized the Chinese government to make 35 billion yuan, meaning $5 billion, freely available to Argentina," Fernandez said after meeting Xi at the Group of 20 (G20) summit in Bali. China is Argentina's second biggest trade partner and the second most important destination for Argentine exports. Argentine Economy Minister Sergio Massa added that the currency swap will give the central bank more fore...

Radianlcd：Dollar weakens on peak Fed rate expectations The U.S. dollar weakened in early European trade Tuesday as more Federal Reserve officials indicated a slowdown in interest rate rises, with traders speculating a peak in rates might be close. At 03:10 ET (08:10 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, dropped 0.4% to 106.067, falling to a new three-month low. Fed Vice Chair Lael Brainard was, on Monday, the latest Fed official to comment on the state of the central bank’s battle against inflation, echoing weekend comments by Fed Governor Christopher Waller that interest rates need to keep rising to battle inflation, although likely at a slower pace. "I think it will probably be appropriate soon to move to a slower pace of increases, but I think what’s really important to emphasize is ... we have additional work to do," Brainard said in an interview with Bloomberg in Washington. Expectations are growing that the Fed will...