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Currencies

Argentina, in dollar love affair, agonizes over divorcing the peso

LONDON/BUENOS AIRES/NEW YORK, Sept 5 (Reuters) - María Barro, a 65-year-old domestic worker in Buenos Aires, buys a few dollars each month with her peso salary, a hedge against Argentina's persistent inflation now running at over 100% and a steady devaluation of the little-loved local peso.The peso currency is now in the crosshairs of the country's dark horse presidential front-runner, libertarian radical Javier Milei, who has pledged to eventually scrap the central bank and dollarize the economy, Latin America's third largest.Milei - facing a tight three-way battle with traditional political...
Funds

US banks’ reserves steady, assuaging liquidity drainage fears

NEW YORK, July 21 (Reuters) - A feared liquidity drainage in the U.S. banking system as the Treasury refills its coffers has not materialised yet, on the contrary reserves increased recently, assuaging some concerns the bond spree could lead to further credit tightening.The U.S. Treasury started rebuilding its account through T-bills after the government's debt ceiling was suspended last month. Since early June, the Treasury General Account at the Fed has increased by about $460 billion.Generally, an increase in government borrowing coincides with a decline in demand for the Fed's...
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