"Restrictions imposed by the American partners are of an extraterritorial nature. The possibility of switching from the US dollar to the euro in settlements depends on Europe’s stance toward Washington’s position."
"We would definitely like to explore the possibility of launching products denominated in offshore renminbi... We believe with the increasing number of Chinese trading in our market, there would be more Chinese companies wishing to join the LME.”
"Current elevated levels of inflation and inflation expectations continue to pose risks on the pricing behavior. Accordingly, the Committee decided to implement a strong monetary tightening to support price stability."
It is a sea of red in global markets this morning amid a quartet of risks, including the Turkish lira meltdown, weak European PMIs, the Italian political quagmire and Trump casting doubts over the North Korean summit.