Forex News

The Chinese yuan fell today on the speculation that the signs of the deteriorating global economy may prompt the Chinese policy makers to limit the currency’s gains in order to prevent the damage to the exports, which the strong currency may cause.

The Chinese yuan declined today after the US currency rallied and the central bank lowered the reference rate; the increasing exports and the resulting trade surplus weren’t able to support the currency.

The Chinese yuan strengthened today as the central bank kept its reference rate unchanged and after the stress test of the European banks failed to improve the confidence in the strength of Europe’s economy.

The Chinese yuan rose today as China set the daily reference rate to the record high level, giving the currency the chance to appreciate before the Group of Twenty nation’s meeting tomorrow in order to stop criticism for the yuan’s dollar peg.

The Chinese yuan gained today on anticipation that the central bank would allow the currency more flexibility before Group of Twenty nation’s meeting this week.

The Chinese yuan retreated today, after it gained yesterday on the signals of the end for the dollar’s peg, as China’s central bank might intervene to curb the currency’s appreciation.

The Chinese currency appreciated today against the dollar as China relaxed the yuan’s peg to the U.S. currency, the move which should stop blames for unfair trading advantage, brought by undervalued currency, from the U.S. President and other G-20 leaders.

The Chinese yuan rose against the euro today on the speculation that the nation’s expanding economy will encourage the policy makers to allow the appreciation of the China’s currency.

The Chinese yuan may gradually rise as the China’s government is likely to let the nation’s currency to appreciate in order to fight the inflation, but the sharp increase because of the foreign pressure isn’t expected.

The Chinese yuan gained on the prospect that the central bank will stop keeping the currency at current rate, removing the a 21-month-old peg, and allow it to appreciate, attempting to keep the inflation under control and also to make imports cheaper.