Hang seng is flat. Taiwan is the leader on the board. We will talk about tsmc. They are gaining on the back of the apple news. We continue to watch dollar renminbi. 16 month high for the yen. We could be set for the best performance ever for the renminbi. Look at whats going on the rest of g10. Still seeing a strong yen. Pound is gaining for a third day at 129. The dollar falling to the twoweek low ahead of the fed decision. Take a look at bond yields ahead, not much movement. Its pretty quiet before the fed. Six the seven basis points for u. S. 10 year. Bondsl off in government the fall off in government bonds may have run its course. Saw the biggest cash injects and since 2018. Crude jumping on the back of that Better Chinese data we got yesterday. Back to our top story. A big win on paper, but not much in the real world. Says that Donald Trumps tariffs on chinese goods violated International Regulations, but its unlikely to make much of a material difference. Lets get more from our
Shazam is this an Artificial Intelligence play . Were going to look. Whats to buy ahead of tax reform debate on whether Airline Stocks could be the big beneficiaries of any tax bill. But we do start with the story thats taken wall street, main street, any street, frankly, by storm, and that is bitcoin. Bitcoin futures popping in their first full day of trading on the cboe Cnbcs Bob Pisani joining us with that story. Bob, everybody is talking about it. It is and its finally happened the good thing is at least trading has happened and relatively orderly we passed 18,000, folks. Bitcoin futures opened 6 00 last night eastern time, 15,000, moved up very, very quickly. Here you see its over 18,000. So its been small, 3,600 contracts, figure the math here. 17,000 p 17,000, 18,000 about 60 million. Thats not a lot but its a start at least heres whats important. Lets go over what exactly a futures contract is, why this is so important first of all, its just agreement to buy or sell a commodity
Family. Haidi it is very much in focus today after the pboc removed a pillar of support for the currency. Dropping from the daily session. The currency lower on tuesday. Tom, it is not been in place very long. Why have they chosen to remove year, since may of last that is the first element from the mix. It is dollar weakness. Many say it is a line in the sand. They say they oppose the controls. There is a growing confidence now in terms of policymakers here in terms of the trajectory of the one. Comfortable enough to relinquish elements of control. Thats what they have seen. Charthave a terminal showing the placement of this back in may. N strengthen. Ua that is when you saw the dollar ticking up. Versus the u. S. Dollar. We should expect now a little bit more volatility around theyuan now. Is how question really much forward this leads up in terms of a greater market role for the currency. They could widen the trading band. Right now they are allowed to move up 2 or down 2 . They coul