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Day: December 29, 2010
December 292010
Can Yuan’s Gains Be Limited by Demands for Slower Appreciation?
The Chinese declined today as the Chinese executives call for a slower appreciation, while criticizing the US for the debasing of its currency and creating asset-bubbles on the emerging markets. Earlier the executives were supporting the end of the yuan’s peg to the dollar and willing to see a faster appreciation of the Chinese currency. Now the CEOs are worried that the US quantitative easing may hurt the economies across the world and are willing to see the slowdown of the yuan’s appreciation. USD/CNY advanced from 6.6258 […]
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December 292010
Franc Rallies as Swiss Economy Grows
The Swiss franc rallied today against the US dollar, heading to the record, as the leading economic indicators showed the sustainable economic growth. The KOF Economic Barometer posted a reading of 2.10, which was rather higher, despite declining from the previous level of 2.13 in the third straight drop. The report also forecasts that the economy would continue its growth, albeit at a slower pace. USD/CHF rallied today from 0.9520 to 0.9502 as of 13:19 GMT […]
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December 292010
South Korea’s Won Gains vs. Dollar, Fall vs. Euro
The South Korean won rose against the US dollar as the manufacturers confidence improved. The currency slipped versus the euro amid the geopolitical uncertainty. The Bank of Korea reported that the index of the expectations for January went up from 91 to 92 in December. The index of non-manufacturing expectations slipped from 92 to 87. The analysts say that the South Korean currency would stop appreciation as the importers would buy dollars at current high prices. The tension between […]
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