Tag: yuan

yuan

Research Contradicts US Officials on USD Strength

A research note today from Societe Generale found that, despite claims from senior US officials, the USD has generally weakened against other major currencies over the last two decades. This announcement comes after a press conference on Saturday, where US Treasury Secretary Steve Mnuchin argued that by not intervening to support the yuan, the Chinese […]

Five on Friday: What Happened in Markets This Week

Lizzy Birmingham provides a brief roundup of the major FX moves this week, and the drivers behind each. 1) Pound Temporarily Bounces Back after May’s Resignation Today, British Prime Minister (PM) Theresa May announced her resignation, set for Friday, June 7. May’s announcement comes after three failed attempts to pass a Brexit deal, confirming mass-speculation […]

Icap Launches CNH Benchmark

EBS BrokerTec and Icap Information Services (IIS) have launched EBS CNH Benchmark, the first fully electronic, trade-backed reference rate for the offshore Chinese renminbi (CNH) market, according to Icap. The benchmark is published daily at 16:30 Beijing/8:30 GMT, and is timed to coincide with the onshore renminbi (CNY) market close. “We chose to publish it […]