(Bloomberg) China signaled the yuan’s recent appreciation, which has taken it to a three-year high against the dollar, is too rapid with a weaker-than-expected reference rate.
The People’s Bank of China set the fixing at 6.3858 per dollar, compared with the average estimate of 6.
May 04 2021, 10:17 AM
May 04 2021, 7:29 AM
May 04 2021, 10:17 AM
(Bloomberg) The rally in commodity prices is bolstering the outlook for emerging-market currencies and boosting parts of credit and stocks even as it fuels concerns about higher inflation.
(Bloomberg) The rally in commodity prices is bolstering the outlook for emerging-market currencies and boosting parts of credit and stocks even as it fuels concerns about higher inflation.
The Bloomberg Commodity Spot Index has risen to the highest since 2012 after advancing 8.7% last month in the biggest jump since August. Many investors expect more gains as the world pulls out of the pandemic.
Thatâs helped lift the MSCI Emerging Markets Currency Index near a record after it surged 1.5% in April, the most this year. A gauge of global stocks has also continued up after increasing 4.2% last month, the best in four. Corporate debt from Asian metal and mining firms has also outperformed, returning 2% in April compared wit
Chinaâs Booming Economy Is Fueling Alternative Yuan Trades
Apr 23 2021, 2:52 PM
April 23 2021, 5:32 AM
April 23 2021, 2:52 PM
(Bloomberg) Optimism over Chinaâs economy is fueling some alternative bets in the foreign-exchange market.
(Bloomberg) Optimism over Chinaâs economy is fueling some alternative bets in the foreign-exchange market.
Buy the yuan against the Singapore dollar and yen on expectations that Chinaâs growth would outperform the region, analysts say. The upbeat view has boosted the Bloomberg CFETS RMB Index, which tracks the Chinese currencyâs movement against 24 trading-partners, to its highest in three weeks.
While betting on the yuan against the dollar as China recovered from the pandemic quicker yielded about 7% in 2020, both currencies are more or less moving in lockstep this year as the U.S. economy starts to rebound. The alternative strategies are also a reflection of how Wall Street is increasingly positioning the Chinese