• “The recovery and upturn of the Chinese economy has become more solid with the enhanced economic stability. It is desirable to proceed further with reform of the RMB exchange rate regime and increase the RMB exchange rate flexibility”
• The vote of confidence in the global economy has improved the appetite for risk currencies with the AUD the main winner among the majors
• Exact details still are a bit unclear as to how far and how fast the Yuan can appreciate
• Normally the JPY crosses would be lower after such an event but the improved risk appetite is outweighing this