The currency markets are always alive with action, and the stories behind the moves are often interesting and could put hefty profits into your pocket with the right currency options.  Did you know, for example, that Brazil recently started quietly preparing to dump the US dollar in favor of the Chinese yuan?

Once an agreement is finalized between Brazil and China’s central banks, it will allow the Brazilian central bank to lend yuans to importers to pay for Chinese imports.  But before the bank can lend importers yuans, it has to first buy them INSTEAD of US dollars.  A shift that’s obviously bullish for the yuan and bearish for the dollar.

And Brazil’s not alone.  They will join six other countries, including Malaysia, Argentina and Hong Kong, in dumping the dollar for settling trade deals with China.  This is an epic shift that’s still in its infancy.  Each new country that gets added to the list reduces the demand for the dollar and increases the demand for the yuan which leads to a stronger yuan at the expense of the greenback.

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