US Treasury Secretary Yellen believes that the International Monetary Fund (IMF) and the World Bank reflect American principles and serve as a balance against China.
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“In the face of what’s likely to be Republican skepticism when she testifies on Capitol Hill, Yellen will laud institutions like the International Monetary Fund (IMF) and the World Bank (WB) that ‘reflect American values,’” said Bloomberg early Tuesday in Asia as it released transcript of US Treasury Secretary Janet Yellen’s scheduled Testimony in front of the House Financial Services Committee, up for publishing later in the US Session.
The news also adds that the Treasury chief’s remarks showcase the battle lines between the world’s two largest economies as they vie for influence in the developing world.
The news challenges the market sentiment and allows the US Dollar to lick its wounds, while challenging the Gold Price, ahead of the US inflation data. That said, the US Dollar Index (DXY) struggles to defend the week-start rebound near 103.65 while the Gold Price stays depressed near $1,960 at the latest.
Also read: Gold Price Forecast: XAU/USD stays defensive near $1,965 hurdle ahead of US inflation
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