Beijing announced plans on Saturday to make the yuan more flexible, breaking its strict peg to the US dollar.
I noticed the yuan went stronger a bit when US market opens. I suspect the investors are buying yuan. And the money changer also knew more people would buy yuan so they reduce the exchange rate.
We will see slowly China yuan will gain stronger.
The change in yuan policy may involve switching the peg from the US dollar to a basket of currencies to reflect better China's diverse export markets.
No comments:
Post a Comment