www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Markets

Switzerland's surprise move weakens yuan

(Agencies) Updated: 2015-01-17 10:19

US currency demand increases after euro cap abandoned

China's yuan fell the most in four weeks as the Swiss National Bank's surprise move to abandon a cap to the euro boosted demand for the greenback.

The Swiss franc jumped as much as 41 percent on Thursday in London after the central bank scrapped a three-year-old policy of preventing the currency from strengthening beyond the 1.20 level against the European single currency.

China's exports rose 9.7 percent in December from a year earlier, beating the 6 percent growth predicted in a Bloomberg survey, according to official data released on Tuesday. Imports fell 2.4 percent, leaving a trade surplus of $49.61 billion.

The yuan weakened 0.3 percent, the most since Dec 18, to close at 6.2066 a dollar in Shanghai, China Foreign Exchange Trade System prices show. It gained 0.03 percent this week.

"Market sentiment has definitely worsened in the short term and some investors are probably unwinding their positions to free up liquidity to get dollars," said Ho Man Chun, Hong Kong-based strategist at Bank of Communications Co's branch in the city. "This unwinding has nothing to do with China's fundamentals."

The People's Bank of China raised the yuan's reference rate by 0.01 percent on Friday to 6.1188 a dollar, capping a 0.18 percent advance for the week. The onshore spot price traded 1.4 percent weaker than the fixing, within the 2 percent limit of its permitted trading range.

In offshore trading in Hong Kong, the yuan slipped 0.39 percent on Friday and 0.28 percent for the week to 6.2231, data compiled by Bloomberg show. Twelve-month non-deliverable forwards fell 0.47 percent, the most since Dec 18, to 6.3265, 1.9 percent lower than the spot rate in Shanghai.

The pressure for the yuan to depreciate will increase as the SNB's removal of the franc cap implies an increasing possibility the European Central Bank will conduct quantitative easing, said Everbright Securities Beijing-based economist Xu Gao. Speculation over a weaker euro will lead to a stronger dollar, Xu said.

Casualties mounted from the Swiss currency shock as the largest US retail foreign-exchange brokerage said client losses threatened its compliance with capital rules. FXCM Inc, which handled a record $1.4 trillion of trades by individuals last quarter, said clients owe $225 million on their accounts after SNB's decision roiled global markets.

China's foreign-exchange reserves fell to $3.84 trillion at the end of December, from $3.88 trillion in September, according to official figures released Thursday.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 国产欧美日韩不卡在线播放在线 | 欧美成人aa| 亚洲欧美日韩精品高清 | 免费一级毛片不卡在线播放 | 国产大秀视频 | 日韩精品毛片 | 久久视频在线观看免费 | 欧美精品日日鲁夜夜添 | avav在线看| 亚洲成a人片在线看 | 在线观看免费a∨网站 | 国产欧美一区二区久久 | 特级片免费看 | 一区二区三区四区视频 | cao在线视频 | 成人免费观看国产高清 | 久久香蕉国产观看猫咪3atv | 狠狠做久久深爱婷婷97动漫 | 欧美日韩顶级毛片www免费看 | 日本国产最新一区二区三区 | 精品在线99 | 精品久久久日韩精品成人 | 精品国产免费观看一区 | 午夜黄色福利视频 | 欧美亚洲日本一区二区三区浪人 | 成人午夜视频一区二区国语 | 黄视频欧美 | 亚洲视频免费看 | 国产成人黄色 | 亚洲经典乱码在线播 | 久久久久国产成人精品 | 福利视频美女国产精品 | 青青草福利视频 | 一区二区三区免费看 | 国产欧美亚洲精品a | 亚洲欧美视频网站 | 亚洲综合干 | 特黄a三级三级三级 | 欧美一级特黄特黄毛片 | 国产精品v一区二区三区 | 日本丶国产丶欧美色综合 |