Archive - Mar 15, 2014
China Widens Dollar Trading Band From 1% To 2%, Yuan Volatility Set To Spike
Submitted by Tyler Durden on 03/15/2014 09:09 -0500
In the aftermath in the recent surge in China's renminbi volatility which saw it plunge at the fastest pace in years, many, us included, suggested that the immediate next step in China's "fight with speculators" (not to mention the second biggest trade deficit in history), was for the PBOC to promptly widen the Yuan trading band, something it hasn't done since April 2012, with the stated objective of further liberalizing its monetary system and bringing the currency that much closer to being freely traded and market-set. Overnight it did just that, when it announced it would widen the Yuan's trading band against the dollar from 1% to 2%.
Weekly Outlook: Euro Resilience is Remarkable
Submitted by Marc To Market on 03/15/2014 07:21 -0500An overview of the technical condition of the major currencies.
