Japan and China to start direct yen-yuan trading! Bye Bye Reserve Currency!! | |
Anonymous Coward User ID: 16877276 Romania 05/29/2012 03:57 PM Report Abusive Post Report Copyright Violation | |
WTF Paco (OP) User ID: 3241949 United States 05/29/2012 07:44 PM Report Abusive Post Report Copyright Violation | |
InCogNeatOh User ID: 15720525 Australia 05/31/2012 12:45 AM Report Abusive Post Report Copyright Violation | Japan and China will start direct currency trading this week, Tokyo said Tuesday, the first time Beijing has let a major unit other than the dollar swap with the yuan. The move, which will scrap the greenback as an intermediary unit, comes as China introduces measures as part of a long-term goal of internationalizing its currency to rival the dollar. The two-way trade will also be allowed to move in a wider range than the narrow band at which the dollar and yuan change hands, Dow Jones Newswires and the Nikkei business daily reported. China will set a daily rate based on dealer quotes with trade allowed to move within a 3% band above or below that rate, the reports said, compared with a 1% band fixed to yuan-dollar trading. The Chinese central bank earlier Tuesday introduced a rate of 7.9480 yuan for every 100 yen, Dow Jones said. ... [link to www.japantoday.com] |
WTF Paco (OP) User ID: 1337750 United States 05/31/2012 07:47 AM Report Abusive Post Report Copyright Violation | Japan and China to start direct currency trading on Friday Quoting: InCogNeatOh Japan and China will start direct currency trading this week, Tokyo said Tuesday, the first time Beijing has let a major unit other than the dollar swap with the yuan. The move, which will scrap the greenback as an intermediary unit, comes as China introduces measures as part of a long-term goal of internationalizing its currency to rival the dollar. The two-way trade will also be allowed to move in a wider range than the narrow band at which the dollar and yuan change hands, Dow Jones Newswires and the Nikkei business daily reported. China will set a daily rate based on dealer quotes with trade allowed to move within a 3% band above or below that rate, the reports said, compared with a 1% band fixed to yuan-dollar trading. The Chinese central bank earlier Tuesday introduced a rate of 7.9480 yuan for every 100 yen, Dow Jones said. ... [link to www.japantoday.com] Add ^^^^^ to vvvv and this is going to be an interesting week!! GET READY: Here Comes The Busiest 48 Hours In The History Of Economics Tonight begins what we suspect will be the busiest 48 hours in the history of economics. Thanks to the shortened week, and just generally the scheduling of events, what starts tonight is going to be epic. We're just going to run through all the data and events, which start tonight. At 7:00 PM ET tonight we get Korean industrial production. Following that at 7:50 comes Japanese industrial production. Those will both give good insight into the state of the Asian economy. Read more: [link to www.businessinsider.com] Thread: CARSH WATCH 2012: DOW Futures Dropping, CARSH is Nigh!!! Last Edited by WTF Paco on 05/31/2012 07:51 AM It's all about slim chances but a slim chance is better than none. |