China agreed to sell 10 billion US Dollars of state bonds to Japan

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Source: BBC
China has agreed to sell 10 billion US Dollars of sovereign debt to Japan in an attempt to internationalize its currency. China is willing to make the Yuan an alternative reserve currency to its US counterpart. Allowing overseas investments in China's debt, the country makes its currency more accepted in foreign markets, said Zhang Yongjun from China Centre for International Economic Exchanges.


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Tue, 13 Mar 2012 10:32:20 GMT

US federal budget deficit hit 231.7 billion US Dollars in February

US federal budget deficit widened more than expected in February, reported Department of the Treasury. The US federal budget balance declined to minus 231.7 billion US Dollars on a seasonally adjusted basis in February as compared to minus 27.4 billion US Dollars in January. Experts predicted the deficit to attain 229.3 billion US Dollars.

Tue, 13 Mar 2012 09:50:25 GMT

Gold draws strength from depreciating US Dollar ahead of Fed meeting

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