OctaFX | OctaFX Forex Broker
Open trading account
Back

USD/CNY fix offers “more directional cues” - UOB

Analysts at UOB Group explained that the Federal Reserve Bank of New York (NY FED) published a research report concluding that after the recent changes in the USD/CNY’s daily fixing mechanism, the CNY “has become quite predictable and quite responsive to market forces”.

Key Quotes:

"The NY FED noted that the daily fix has now provided “more directional cues” and that official intervention in FX market appears “to have diminished”. The report concluded that “the Chinese currency’s behavior has come to more closely resemble the short horizon random walk behavior typically found in freely floating currencies”. However, the report also stressed that the views are “solely to stimulate discussion” and “do not necessarily reflect the official position of the Federal Reserve”. 

Forex today: stocks rise yet so does the yen, dollar anchored

Forex today was governed by the flattening yield curve as markets price out prospects of tighter Fed policy on the long end, anchoring the dollar desp
Read more Previous

Stronger-than expected increase in October home sales - Nomura

Analysts at Nomura noted that Existing home sales rose 2.0% m-o-m in October to an annualized rate of 5.48mn, above expectations (Nomura: -0.7% to 5.3
Read more Next
Start livechat