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

Yuan enters new era with freer float

By Gao Changxin (China Daily) Updated: 2014-03-26 08:31

"The yuan has gone from being a most attractive carry trade bet in emerging markets to the worst in two months as the central bank's efforts to weaken the currency has caused volatility to surge," Geoffrey Kendrick, head of Asian currency and rates strategy at Morgan Stanley, said at a news conference last month.

"Implied volatility in the currency rose in February by the most since May, when the Fed first signaled plans to cut stimulus."

Yuan enters new era with freer float
Yuan enters new era with freer float 

Shen Jianguang, Hong Kong-based chief economist with Mizuho Securities Asia Ltd, wrote in a commentary on Tuesday that the yuan has entered into a "new era of two-way fluctuation".

Room for appreciation is "very limited", he wrote, given that China's trade surplus has been shrinking, labor costs are rising, and it has already strengthened by more than 40 percent against the dollar since 2005.

Room for depreciation is limited, too, as the direction for fund flow is still inbound, and China's economic growth is still one of the world's fastest despite its recent deceleration.

"Two-way fluctuation against the US dollar will happen more frequently and in a bigger range this year, while the yuan will remain basically stable against a basket of currencies," Shen said.

Bank of China Ltd said in a report that the yuan's recent decline will be short-lived and that China's trade surplus and huge foreign exchange reserve will support the currency's long-term appreciation.

Nathan Chow, a Hong Kong-based economist with DBS Bank Ltd, said that the recent yuan weakness and narrower onshore-offshore yuan spread are unlikely to reverse the currency's increasing global role in trade finance activities

"A more flexible and volatile yuan exchange rate is likely to give rise to more genuine participation and less speculation in such activities," he wrote. "The longer-term growth in yuan trade finance will be motivated more by companies seeking cost advantages and a desire to mitigate foreign exchange risks."

On Tuesday, the yuan jumped on expectation that recent economic weakness will prompt Beijing to stimulate growth.

The yuan opened at 6.1828 per dollar, 131 basis points higher than Monday's close of 6.1959, amid a 26-basis-point increase in the daily reference rate to 6.1426.

The jump came as the flash manufacturing Purchasing Managers' Index, issued by HSBC Holdings Plc, fell to 48.1 in March, its lowest level since July 2013. The PMI was down from February's final reading of 48.5 and 49.5 in January. It disappointed analysts who expected a modest pickup.

Signs of a slowdown in China's economic growth were also factors in the yuan's previous weakening. A report released earlier in March revealed that Chinese exports declined by more than 18 percent in February from a year earlier, compared with a 10.6 percent increase in January, and a market expectation of a 6.8 percent increase.

Yuan enters new era with freer float
Yuan eases on widened trading band

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
...
主站蜘蛛池模板: 久草视频在线首页 | 宅男噜噜噜一区二区三区 | 欧美激情亚洲 | 国产精品九九久久一区hh | 亚洲国产一区二区三区在线观看 | 91欧美在线 | 国产午夜精品理论片免费观看 | 欧美xxxx色视频在线观看 | 亚洲精品国产第一区二区三区 | 久久99精品久久久久久秒播 | 国产亚洲高清不卡在线观看 | 亚洲免费一级片 | 日韩视频一区二区 | 在线一区二区三区 | 狠狠色丁香久久综合网 | 男人免费看片 | 九九爱精品 | 国产精品久久久久久一区二区 | 国产激情视频在线播放 | 国产在线播放一区 | 国产日韩亚洲不卡高清在线观看 | 欧美一级人与动毛片免费播放 | 国产精品三级国语在线看 | 九九亚洲精品 | 欧美成人黄色 | 亚洲a级 | 一级成人毛片免费观看欧美 | 男女男在线精品网站免费观看 | 免费网站18| 国产精品亚洲综合天堂夜夜 | 中文字幕一区二区三区有限公司 | 国产一区二区三区久久精品小说 | 中文一区在线观看 | 日韩欧美在线视频观看 | 国产精品高清免费网站 | 国模午夜写真福利视频在线 | 国产成人啪精品午夜在线观看 | 草久网| videos性欧美 | 日本人成免费大片 | 亚洲一区二区三区中文字幕 |