Monday, June 21, 2010
U.S. stocks rise as China vows yuan flexibility
U.S. STOCKS RISE AS CHINA VOWS YUAN FLEXIBILITY
Stocks rally as China's pledge to make its exchange rate more
flexible, a move that could eventually boost the spending power of the
country's consumers, lifts investors' expectations for global growth.
TRADERS TO WATCH PBOC FOR CLUES TO YUAN POLICY
Traders will keep watch on China's central bank for further clues
regarding its policy on currency appreciation, with attention to focus
on the setting of the central parity rate -- a reference point that
helps define how much the currency can rise during a single session.
CURRENCY MOVE SPARKS DEBATE ON YUAN'S SPEED LIMIT
Although the People's Bank of China's statement on loosening the
yuan's de-facto dollar peg implies a gradual approach, some analysts
say China might opt for a more aggressive move than anticipated.
CHINA TO EASE YUAN'S DE-FACTO DOLLAR PEG
China's central bank plans to loosen the yuan's de-facto peg to the
U.S. dollar but indicated that any strengthening in the Chinese
currency would be gradual.
CASH IN ON CURRENCY SHOCKS WITH THESE FUNDS, ETFS
Investors increasingly are trading foreign currencies both as a hedge
against their U.S. dollar holdings and as a way to speculate on global
economic upheaval.
