US Treasury

The US dollar is under strong sales pressure after the Bloomberg agency said the Chinese authorities would reduce or even stop buying US Treasuries, said the BNR. 

The US has imposed sanctions on five Iranian legal entities for their involvement in Iran's missile program, the BNR said. These are industrial companies, affiliates of the industrial group "Shahid Bakery".

It is now 25 years since George Soros and Robert Johnson* speculated against the pound,  costing £3.3 billion in losses, and forcing the UK out of the European Exchange Rate Mechanism (ERM) that paved the way for the euro currency.

According to Johnson this “tough love” was necessary!

US Treasury Secretary Steven Mnuchin appears set to spearhead initiatives for Greek debt relief as part of Washington's efforts to bolster Greece as a bastion of stability in the wider region, according to Kathimerini sources. 

US President Donald Trump made a surprising deal with the US Democratic Party at the Congress to raise the credit limit, which must secure budget funds by 15 December this year. The deal with his political opponents surprised some Republicans who offered a different solution to the problem, Reuters quoted.

The US has imposed sanctions on a dozen Russian and Chinese companies and individuals it accuses of helping North Korea's nuclear weapons programme, reported BBC.

It comes after the UN Security Council, including Russia and China, voted for further sanctions against Pyongyang.

The US has slapped sanctions on eight members of the Venezuelan Supreme Court, with President Donald Trump calling the situation in Venezuela "a disgrace to humanity." The Venezuelan Foreign Ministry called the measure "unacceptable."

The US government has aligned with the position of the IMF on the Greek problem, believing a solution must be reached regarding the debt issue, according Michalis Ignatiou. Greece will be on the agenda of talks at the G7 Summit to take place in Bari, Italy on May 11 and 13.

The Trump administration on April 26 unveiled plans to dramatically cut taxes for U.S. businesses and individuals, slashing the corporate rate to 15 percent, but the once-in-a-generation overhaul is headed for a tough fight in Congress.

In comments to the Financial Times on Tuesday, US Treasury Secretary Steven Mnuchin gave no indication that the Donald Trump administration has any intention of standing in the way of an agreement between Greece and its lenders, which would lead to the International Monetary Fund committing new funds to the Greek bailout.