$ transactions

Admiral Huddy · 26 Sep 2008 at 15:13

Not good, our Bank has ceased all USD trading immediately and is to concentrate in clearing its dollar position. This includes FX/MM, L/Ds, securities etc..

Where on earth is all this going?

(ps i can't name the bank before one asks)

daz · 26 Sep 2008 at 15:19

Value of the dollar to fall significantly
China, OPEC et al decide to use euros instead for a large number of transactions
Dollar falls further
USA in serious trouble trouble

Dugganator · 26 Sep 2008 at 15:20

I guess it just means bad things for the usa at the moment. But this will affect everyone else as well I guess. It all seems crazy at the moment

Pilky01 · 26 Sep 2008 at 16:59

I think the US knows this, thats why its been buying loadsssss of oil.