Posts Tagged ‘Yuan’

Sluggish Days for the Pound?

The British pound has seen modest gains over the past few trading sessions and is now slightly above the 1.51 figure in relation to the United States dollar. However, this is now without mixed results.

Recent bank stress tests pointed out that all but two institutions (Standard Chartered and RBS) have passed scrutiny and did not exhibit any symptoms of capital shortfalls. This was unfortunately offset by surprisingly sluggish PMI data.
(more…)

Entering China has become a hot topic in the forex world. From boardrooms to bulletin boards, there’s a significant amount of buzz regarding the best way to delve into this market. China offers enormous potential for traders, yet this remains largely untapped due to the draconian regulations laid down by the Communist Chinese government.

While it’s been possible for Forex companies to gain some kind of access to Chinese markets, this has typically been accomplished through partnerships with local representatives, offices in less heavily-regulated Asia-Pacific offices and IBs, this has not translated into securing a real presence in the country itself.
(more…)

Wen Jiabao, Chinas premier minister, made it clear yesterday that China will not give in to US and European demands for the Yuan to strenghten. Beijing are becoming more defiant against foreign pressure regarding their currency policy.

“On the one hand, you are asking for the renminbi to appreciate; and for the other hand, you are taking all kinds of protectionist measures”, said Jiabao.

He find that by keeping the Yuan stable against the Dollar, China is contributing to the global recovery. (more…)