YUANWARD and UPWARD

rffrydr · Posted: Fri Sep 01, 2006 10:19 am Post subject: YUANWARD and UPWARD

Continues to forge incremental new highs and going uncovered by media. Japan begins a mini-repat next week.

May take some of this Carry off.

rffrydr · Posted: Mon Jan 26, 2009 7:59 am Post subject:

Korea now holding a 30% currency advantage over the last three months. Free float? Be careful what you wish for. Congress Yen/Yuan baiting will come to nothing.
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Today is the Tomorrow you worried about Yesterday!

rffrydr · Posted: Tue Dec 02, 2008 2:39 pm Post subject:

Paulson's worried about a "race to the bottom" with global currency devaluations.

http://ftalphaville.ft.com/blog/2008/12/02/18943/could-china-be-depreciating/

Think the euro is fairly valued at 1.25; looking for 109: no trade.
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Today is the Tomorrow you worried about Yesterday!

rffrydr · Posted: Mon Dec 01, 2008 9:04 am Post subject:

Seems like only yesterday.

Yuan takes great leap down to lower "band" over weekend. Surest sign so far of how strained this "platform" has become in this nation of "symbols."

Pride goeth before the fall--western ways.
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Today is the Tomorrow you worried about Yesterday!

HenryTo · Posted: Tue Sep 05, 2006 1:17 am Post subject:

S&P expects more tightening from China and an ultimate rise of between 3% and 5% in the Renminbi this year:
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S&P expects more Chinese tightening measures
Tue Sep 5, 2006 2:09 AM ET

HONG KONG, Sept 5 (Reuters) - Global rating agency Standard & Poor's said on Tuesday it expected China to further cool its booming economy through more monetary tightening and an appreciation of its yuan currency.

China raised interest rates on Aug. 18 for the second time in four months. It has also twice increased banks' required reserves in a bid to slow economic growth that raced along at 10.9 percent in the first half of this year.

"Even now the investment rate has declined slightly, everyone still recognises that it's still pretty high," Ping Chew, director of S&P sovereign and financial services ratings, told a news conference.

Investment in fixed assets in China's urban areas grew 30.5 percent in January-July from a year earlier. That excessive capital spending growth prompted the raft of monetary and administrative tightening steps taken by Beijing in recent months.

"We do think Chinese policy makers are aware of letting the economy run away on its own. We are confident they will implement more tightening measures," Chew said.

He said more administrative measures, such as credit controls and investment controls, would be put in place by China.

"Furthermore, we still expect a little appreciation of the renminbi (yuan) ... as part of the overall package of tightening policy," he said.

"We predict a 3 to 5 percent appreciation for the full-year 2006," Chew said, adding that was just an assumption.

The yuan <CNY=CFXS> has appreciated a further 2.11 percent since it was revalued by 2.1 percent to 8.11 per dollar on July 21, 2005, and freed from a dollar peg to float within managed bands.

S&P rates China at 'A' with a stable outlook.