Chinese Yuan
British and Chinese Currencies Weaken at Start of a New Week
January 13, 2020
Sterling fell 0.6% against the dollar overnight. British industrial production, down 1.2%, posted the largest monthly decline in seven months during November and was 1.6% lower than a year earlier. Factory output dropped 1.7% on month and 2.0% on year. November’s monthly measure of U.K. GDP showed a 0.3% decline and the smallest 12-month rate […] More
Yuan Strengthens and Iran Financial Market Impact Lessens
January 7, 2020
The Chinese yuan is up 0.5% against the dollar, its biggest daily advance in just over a half year. A Phase I Sino-U.S. deal is expected to be signed soon. The approaching Lunar New Year holiday is driving demand for cash in China. More than 30 people died and many more were injured in a […] More
Asian Stocks and Yuan Falter on Last Day of G7 Summit… Germany Gets Some Bad Economic News
August 26, 2019
The Chinese yuan slumped 0.7% against the dollar, touching a new intra-day low of 7.1527. Stock markets around the Pacific Rim fell Monday by 2.2% in Japan, 1.9% in Hong Kong, 1.6% in South Korea, 1.7% in Taiwan, 1.5% in Singapore, 1.3% in Australia and New Zealand and 1.2% in China. U.S. President Trump, who […] More
Dollar Gives Back Part of Monday’s Sharp Gain against the Yuan
August 6, 2019
The yuan yesterday had slumped to 7.0525 per dollar, its weakest level since May 2008. In response, the U.S. Treasury released a protest, labeling Beijing a “currency manipulator.” This is the first such designation since 1994. By law, the Treasury reviews the currency policies of foreign governments every six months. The most recent review was […] More
Yuan Sinks to 11-Year Low and Depresses Global Stocks & Sovereign Debt Yields
August 5, 2019
It’s been a chaotic day in financial markets, with America seemingly at war on several fronts and non-manufacturing PMIs down in the U.S., Europe, Japan and China. The dollar rose 1.6% against the yuan and 1.3% relative to the peso but fell 1.7% against the euro, 1.0% relative to the Swiss franc, and 0.5% vis-a-vis […] More
Emerging Market Currencies Is Where the Action Lies
April 16, 2014
The unremarkable changes in dollar values against other advanced economy currencies has been a frequent theme lately of the weekly currency market essay. Regrettably, that stability has continued in April, where month-to-date dollar declines amount so far to 1.2% against the Aussie dollar, 1.0% versus the yen, 0.8% relative to sterling, 0.3% vis-a-vis the loonie […] More
Ton of Released Data, Some with Unexpected Results
February 28, 2014
The yuan suffered its greatest single-day drop in almost seven years and hit a 10-month low against the dollar. Yesterday’s testimony by Fed Chairwoman Yellen was somewhat more dovish than anticipated. The dollar is down 0.8% against the Swiss franc and 0.6% weaker versus the euro after touching a 2014 low of $1.3814 earlier in […] More
Sharp Decline in Chinese Yuan to a Four-Month Low
February 25, 2014
The yuan weakened 0.4% against the dollar, arousing some suspicion that Beijing officials may be orchestrating the slide as a protest against rising strains with the United States over a variety of geopolitical matters. Share prices in China continued their retreat, falling by a further 2.6%. Bank of England Monetary Policy Committee member Ian McCafferty […] More
Canadian Dollar, Australian Dollar and Chinese Yuan Are Weaker
February 21, 2014
The loonie has traded 0.6% lower against its U.S. counterpart ahead of the release of Canadian retail sales later today, which probably did poorly. Canadian consumer prices also arrive. The yuan, off 0.2% today, will post its greatest weekly slide in a few years. Chinese stocks fell 1.0% on concerns about the growth outlook in […] More
Statement of G20 Finance Ministers and Central Bank Chiefs Comments Favorably on Japan
April 21, 2013
On the sidelines of the IMF/World Bank meetings in Washington, financial leaders of the Group of Twenty met April 18-19 and released a statement that gives Japan not even an amber light but rather a green light to pursue its new policy program even if such depresses the yen further. Using unmodified language, the statement […] More
