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PBOC Fixes Yuan Mid-Point at Record 6.4990/Dollar

Another day, another milestone for the yuan appreciating against the dollar. For the first time, the People’s Bank of China has fixed the value of the yuan at less than $6.50. From Reuters: The People’s Bank of China...

China Yuan Up Late On 5th Straight Record-Low Fixing

After six continuous days of increases, the Chinese yuan has reached a new high of about 6.54 yuan to 1 dollar, closing the week off at a record high. From Wall Street Journal: China’s yuan rose to a fresh high against the...

The Demise of the Dollar?

The Independent published an allegedly “exclusive report” by Robert Fisk that several countries, including China, Russia, Japan, France and Gulf states had met secretly to find ways to stop using the U.S. dollar as...

U.S. Vows To Sustain Dollar’s Dominance

Following release of an essay by People’s Bank of China governor Zhou Xiaochuan calling for a new international reserve currency to replace the U.S. dollar, U.S. Treasury Secretary Timothy Geithner sent the value of the...

Geoff Dyer: China’s Dollar Dilemma

From The Financial Times: The flotation of Blackstone in June 2007 has already gone down as one of the symbolic events in America’s financial bubble – the end-of-an-era deal when some of Wall Street’s savviest insiders decided...

Chinese Firms Bargain Hunting in U.S.

From the Los Angeles Times: Liu Keli couldn’t tell you much about South Carolina, not even where it is in the United States. It’s as obscure to him as his home region, Shanxi province, is to most Americans. But Liu...

Slow FX Inflows by Separating Gas and Fire

Wang Tao, an economist from Bank of America, writes on slowing foreign exchange inflows, the weakening dollar and Yuan rate revaluation. From Caijing.com.cn: By closely linking the yuan with a sharply declining U.S. dollar,...

Chinese whispers frighten currency markets

From the Financial Times: “The dollar fell to new lows on Friday on rumours that China might shift some of its currency reserves away from the greenback, highlighting the dollar-related
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