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Can China and Brazil trade in their own currency?

China and Brazil have reached a deal to trade in their own currencies, ditching the US dollar as an intermediary, the Brazilian government said Wednesday, Beijing's latest salvo against the almighty greenback.

What does the US dollar deal mean for Brazil & China?

The deal, announced Thursday, has revived concerns about the US dollar’s future. Brazil and China will directly exchange payments without first converting their currencies to a trusted third-party economy. That’s the traditional role of the greenback. Serious issue. US policy has been too heavy-handed, making countries want to ditch the dollar.

Why did Brazil cut a US dollar deal with China?

Brazil has just cut a deal with China to ditch the US dollar when paying each other for trade goods. It’s the latest victory in Beijing’s long-term drive to stomp on the greenback and establish the yuan as the dominant international currency. The deal, announced Thursday, has revived concerns about the US dollar’s future.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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