French Finance Minister Lagarde says that the plan to replace the dollar is “speculation” and that “It is not on the agenda”.
She is the latest in a long line of officials to deny the report of a plan to replace the dollar with a basket of currencies and gold in the next nine years.
EUR/USD is consolidating in the mid-1.47-teens as US equities bounce from a mid-afternoon pullback. They trade about 1.3% firmer at 1054 in the S&P 500., AUD/USD has bounced back to 0.8900, less than 20 pips below session highs despite reports of RBA sales this afternoon…