Monday 21 June 2010

Yuan rising against the USD: no sign of central bank intervention

The official mid-rate was left unchanged earlier today but the market is obviously testing the waters by buying the Yuan against the USD to see where the new limits will be. Reuters is reporting a low in USD/CNY so far today at 6.8110 compared with the official rate at 6.8275 earlier in the day.

AUD maintains strength into European open

It's pointless trying to argue with the market which is insisting on maintaining a bullish tone for the AUD. AUD/USD is again close to its session highs and risk sentiment is definitely on. EUR/USD is also comfortable above 1.2400 and it will be interesting to see what Europe makes of the weekend developments.

No comments:

Post a Comment