The China-led BRICS trade and security bloc will reportedly discuss reducing their reliance on the U.S. dollar for trade during their upcoming South Africa summit — furthering plans to diminish American influence around the world.
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The International Monetary Fund (IMF) announced on Thursday that countries may use the Chinese yuan to settle their debts with their organization after Argentina paid part of its dues to the IMF in yuan in June.
Read More: Breitbart
The Euro continues to fluctuate against the pound and the US dollar, as the eurozone remains unsettled, with Britain discussing referendums in 4 years time on their eurozone membership, causing unrest in financial markets.
The US dollar is also affected as fiscal cliff agreements continue to unfold, however, the GB Pound Sterling seems to be most affected this month by Cameron’s political agenda re Europe, which destabilises UK business who want to move forward with long term plans in an already difficult economy.
Greece, Italy, and Spain also continue to try to claw their economies back from the edge but progress is very slow and no improvement is expected in next 12 months.
The EURO stands at 1.168 against the GBP, showing a sharp drop this month from 1.24 in December.
Euro to GBP – Last 6 months
EURO to GBP – January 2013 – last 30 days
EURO to USD – January 2013 – last 30 days
EURO to USD – Last 6 months