Interbank market news scan: Can central banks play social justice warrior? Are traders prepared for a rate increase?

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Banks now tackle diverse issues, be it Covid-19, climate change or inequality. Purists may disagree but there’s no other option. Central banks aren’t what they used to be – and the better for it | Business | The Guardian

After standing shoulder-to-shoulder for much of the pandemic, traders are preparing for the day the world’s central banks begin to move apart on policy. Traders Map Out Day When Central Banks Finally Raise Rates (msn.com)

Lawmakers in Brazil vote to grant their central bank autonomy. Brazil passes law giving autonomy to central bank | Financial Times (ft.com)

A top Bank of Canada official called the recent spike in cryptocurrency prices “speculative mania,” and said such assets don’t have the qualities to become the money of the future. Crypto Boom Is ‘Speculative Mania,’ Bank of Canada Deputy Says (msn.com)

Sudan’s new cabinet faces pressure to push through rapid currency reform or risk endangering its path to debt relief and to international financial support for its shaky political transition, diplomats and analysts say. Analysis: Delay in currency reform puts donor support for Sudan at risk | Reuters

Currency pairsExchange Rate as of 4:15 pm 8 February 2021(1) As of 3:31 am EST Exchange Rate as of 11 February 2021(2)
AUD/USD0.7656 0.7744
USD/CAD1.2781 1.2676
USD/CNY6.4664 6.4557
EUR/USD1.2035 1.2124
USD/INR72.8500 72.7700
GBP/USD1.3714 1.3830
USD/JPY105.4400 104.5800
USD/MXN20.1300 19.9970
USD/DKK6.1785 6.1332
USD/NOK8.5428 8.4650
Sources: (1) Federal Reserve, (2) Reuters

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