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China rejects calls to CNY appreciation

By   || November 10, 2009 at 02:36 GMT
|| 4 comments || Add comment

Chinese state researchers have rejected calls from Europe and Japan to let the Chinese currency appreciate. Chief economist at the State Information Centre in China, Mr Zhu Baoliang, said policy makers are unlikely to allow its currency to appreciate this year and that foreign pressures won’t push the Chinese government to resume appreciation.

This story plus the fact that the “Chinaman” has been seen selling AUD and NZD aggressively has weighed on the majors. There has been some risk taken off the table over the last hour or so.

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4 Responses to “China rejects calls to CNY appreciation”

  1. Trading Nymph on November 10th, 2009 04:49 GMT

    Who or what is the “Chinaman” and how can you follow them?

  2. Gerry Davies on November 10th, 2009 06:46 GMT

    Hi trading nymph it’s China (sovereign interest)

  3. Trading Nymph on November 10th, 2009 15:47 GMT

    THANK YOU Gerry!!! BTW what do you look at to tell you it’s them selling?

  4. gerry davies on November 10th, 2009 15:55 GMT

    Don’t really look at anything. Rely on market contacts to give us heads up.

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