The Chinese talk of a new global currency is more of a “scholarly exploration”.
This rally has not been so much on dollar concerns as on a revival in global growth and growing risk appetites.
Ambassador Zhou said the Chinese stimulus package is already paying off
China will continue buying US Treasuries so long as they feel they are a good investment, he says.
All in all, he sounds a bit more diplomatic that Chinese central bank Zhou (not sure if they are related…)
EUR/USD reached 1.3627, spurred by broad reflation-trade gains across the board. US equities are up 2.4%.
