Chinese renminbi (RMB)
China key to euro fortunes
Simon Derrick, global head of FX strategy at Bank of New York Mellon in London says China’s fortunes are tightly entwined with those of the euro
SEB launches offshore Chinese yuan services
SEB has launched an offshore Chinese yuan (CNH) cash management, trade finance and foreign exchange business, officials announced today (December 13).
Icap completes first cross-region CNH trade on EBS
HONG KONG - Icap has announced it has executed the first cross-region Chinese yuan trade over electronic broking system EBS.
China: Monetary tightening to increase
Dariusz Kowalczyk, senior economist, Asia ex-Japan, at Crédit Agricole believes the People’s Bank of China is only at the beginning of a scramble to control prices
First offshore renminbi swaption accomplished in Hong Kong
The first offshore renminbi OTC swap option was carried out this week between BNP Paribas and HSBC in Hong Kong, brokered by Icap.
China inflation suggests more rate hikes likely
Brian Jackson, senior strategist at RBC Capital Markets in Hong Kong, looks at China's policy reaction to worsening inflation
Hong Kong will not abandon dollar peg: HKMA’s Chan
Hong Kong Monetary Authority chief executive Norman Chan says central bank will maintain dollar peg
In Brief, October 25, 2010
Read this week's In Brief to stock up on the latest technology news around the FX world.
Conference speaker laments renminbi demand outstripping supply
Demand for the renminbi is outstripping supply since the unit began trading globally earlier this month, according to a trader speaking at conference held under Chatham House rules in London on October 21.
Banks announce renminbi product firsts
HONG KONG & DUBAI – HSBC and Standard Chartered announced a number of firsts last week, as they try to take a lead role in the growth of the offshore renminbi market.
HSBC completes first US cross-border renminbi trade settlement
NEW YORK - HSBC USA completed its first US cross-border renminbi settlement, following the extension of China’s renminbi trade-settlement pilot programme in June.
Icap attracts 15 counterparties to yuan trading
HONG KONG - Fifteen banks have signed up to trade USD/CNY on electronic broking system EBS Spot within the first week of launch, as the broker prepares to extend yuan trading against the euro, yen, Hong Kong dollar and Swiss franc in coming weeks.
China not likely to relent over yuan
Michael Derks, chief strategist at retail trading company FxPro in London, says US disappointment with the pace of yuan appreciation looks set to continue
HKMA warns on renminbi product risks
Hong Kong Monetary Authority executive director calls for caution in due diligence and supervisory assessment of renminbi products
Banks scramble to offer renminbi products as Hong Kong gains offshore interbank status
Banks and financial institutions are ramping up efforts to launch new products to tap the growing appeal of investment opportunities in the mainland China market. The trend intensified last week in the renminbi offshore centre of Hong Kong, after China…
China's yuan de-pegging: implications for Asia and the world
Callum Henderson, global head of FX strategy and Thomas Harr, senior FX strategist, at Standard Chartered in Singapore, predict the effects of China's yuan de-pegging on Asian currencies
Capital controls look likely in EM economies
The financial crisis causes a rethink of free capital flows and their impact on emerging market nations
Asia lukewarm to renminbi despite dollar-depeg
Importers and exporters that trade with onshore Chinese companies are having second thoughts about using the renminbi to settle their trades in place of the US dollar.
China moves on currency
BEIJING - The Chinese yuan fell significantly against the US dollar in Asian trading today, as markets reacted positively to the People’s Bank of China’s plans to disband the US dollar peg.
Chinese forex regulator warns against 'hot money'
BEIJING - Xiaoyi Wang, deputy governor at the State Administration of Foreign Exchange (Safe) has warned against the inflow of 'hot money' into emerging markets, as the risk of a worsening asset bubble continues.
China draws on Japan experience
The message was clear at the FX Week China congress in Beijing last Tuesday, China will move on its currency, but at it’s own pace.
BNP Paribas: pound is going down
BNP Paribas topped the 12-month currency forecast rankings and made a top five appearance in the one- and 12-month year-to-date index, by focusing on changing global liquidity conditions.
Lloyds TSB: USD will win G-3 currency race
Lloyds TSB has topped the three-month currency forecast rankings this week by maintaining its dollar-bullish stance, according to Trevor Williams, chief economist at the bank in London.
Saxo preps for slowing global growth
Saxo Bank has topped this week's three-month currency forecast and the 12-month year-to-date index by focusing on scenario analysis.