国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Money

Yuan recovers against dollar in offshore forwards

By Karen Yeung and Chen Yixin (China Daily)
Updated: 2010-05-11 10:19
Large Medium Small

SHANGHAI - The yuan rebounded strongly against the dollar in the offshore forwards markets on Monday after the European Union and the IMF agreed on a $1 trillion emergency rescue plan to protect indebted eurozone countries.

The deal sparked a 1 percent drop in the dollar index against a basket of currencies while the euro rallied.

In addition, China announced a $1.7 billion trade surplus for April, defying expectations for its second consecutive monthly deficit.

But traders said that may not be enough to ease China's recently heightened caution over depegging the yuan from the dollar, after Europe's debt crisis fuelled worries about the export outlook and the potential for stepped-up capital inflows.

"China may still want to monitor such a complicated problem," said a trader at a European bank in Shanghai.

One-year dollar/yuan NDFs fell to 6.675, pricing in 2.28 percent appreciation of the yuan within a year, compared with 6.711 at Friday's close, or a 1.73 percent gain, and 6.77 at Friday's high, for a rise of only 0.84 percent.

The yuan retained its long-standing steady tone in the spot market, trading at 6.826 per dollar at midday, little changed from Friday's close of 6.8257, after the Chinese central bank fixed the yuan's daily mid-point, or reference rate, at 6.8269 per dollar on Monday, marginally firmer than the previous session's 6.8271.

The United States and China are due to hold another round of Strategic and Economic Dialogue in Beijing on May 24-25 and a US treasury report on currency practices of trading partners, which was delayed from April 15, is still expected in June.

Related readings:
Yuan recovers against dollar in offshore forwards Trade surplus plunges, easing pressure on yuan
Yuan recovers against dollar in offshore forwards PBOC to sell 14b yuan bills
Yuan recovers against dollar in offshore forwards Inflated yuan a far-reaching fix
Yuan recovers against dollar in offshore forwards Yuan forwards fall as Europe's woes worsen

Traders believe China may prefer widening the yuan's daily trading band as a gesture to the United States while moving more cautiously on depegging the yuan from the dollar.

The People's Bank of China now lets the yuan rise or fall up to 0.5 percent each day against the dollar from a midpoint it sets each morning.

One-year onshore dollar/yuan forwards dropped to 6.7088 from Friday's close of 6.7322, although their premium over the offshore forwards widened to 338 pips from 212 pips on Friday.

The spread had briefly inverted in Friday trade for the first time in more than one year, during the crisis that followed the Lehman Brothers bankruptcy.

Reuters

 

上高县| 宜阳县| 和静县| 临沂市| 民和| 衡东县| 锡林浩特市| 瑞安市| 苗栗市| 辉县市| 天祝| 连江县| 广安市| 乌拉特后旗| 雷波县| 高碑店市| 宜阳县| 麻栗坡县| 东光县| 资溪县| 合山市| 中宁县| 高碑店市| 婺源县| 新宁县| 筠连县| 青铜峡市| 鄄城县| 高要市| 乃东县| 青铜峡市| 黔西| 新巴尔虎右旗| 社旗县| 江永县| 阿坝县| 合山市| 铜陵市| 谷城县| 泰来县| 和硕县|