China to widen RMB band this weekend?

Discussion in 'Wall St. News' started by benwm, Jun 17, 2011.

  1. benwm


    News story from earlier today in Asian session. Perhaps some Chinese speakers can find more info and kindly translate:-

    US Dollar vs Chinese Yuan Dealer chatter that the PBoC could widen the CNY currency band in the near future- Dealers note that Jun 19th marks the one-year anniversary when the PBoC stated that it would "proceed further with reform of the RMB exchange rate regime and increase the RMB exchange rate flexibility - On Jun 16th the Chinese FX regulator SAFE (State Administration of Foreign Exchange) stated that in its annual report yesterday that China will gradually increase the yuans flexibility, which was interpreted as a signal that the yuan's trading band will be expanded, - Dealers note that any decision by China to widen the yuans trading band against the dollar would be "more a political than an economic one"

    Note also Premier Wen visiting Europe next week.
  2. benwm


    maybe someone can send me PM if don't want to go public