1/7/2010 6:48:29 PM
SunSet
Posts: -18
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The U.S. Dollar erased early overnight losses and is now trading higher after China shocked the Forex markets with a surprise hike in interest rates. Chinaâs move to curb excessive lending and curtail price increases drove traders into lower yielding, safe haven currencies. Chinaâs central bank sold 3-month bills at a higher interest rate for the first time in 19 weeks. This news is expected to put pressure on commodity and stock prices today.
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10/15/2010 6:41:02 AM
pjk1966
Posts: 1
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Chinese internet radio cri.cn spoke this week about the planned Chinese Yaun entering the Forex market with a variable exchange rate rather than the fixed exchange rate they have adopted for many years. Among sugesstions the Yaun would suffer a decrease in value once it was floated, Chinese economists speculate the Yaun would appreciate in value and ressisted the suggestion.
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