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Day: November 17, 2020
November 172020
USD/CNY Tests 28-Month High As Economy Continues Recovery
The Chinese yuan is now testing its best level in more than two years against the US dollar. As China becomes the lone outlier in the global economy when it comes to the recovery, the yuan is joining the broader rally in the foreign exchange market. With the year 2020 winding down, is the next stop for the yuan 6.4? Better yet, will policymakers allow the yuan to appreciate that much? On Monday, the Peopleâs Bank […]
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November 172020
Can the Bulls Take Out the High of 1.3313 on GBP/USD?
The Great Britain pound versus the US dollar currency pair seems to be willing to go north, but do the bulls have what it takes to push the price higher? Long-term perspective From the low of 1.2075, which validated the support of 1.2092, an ascending trend came into being. The trend managed to extend until just a little under the 1.3502 intermediary level. However, as the bulls extended a little too much and too quickly […]
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