Excerpt from: Spot Forex
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| June 21, 2010 | | Spread bets and CFDs on the spot forex market | While individuals cannot trade the yuan, movements of the Chinese currency (also called the Renminbi) can influence other financial markets. Spread betting and contracts for differences on currencies and other financial instruments should consider that, for the first time since July 2008, the yuan has been revalued.
The Chinese revalued the yuan so that it is higher against the U.S. dollar. Chinese officials are also pledging that there will be more flexibility in the yuan's movements going forward.
While there is still essentially a dollar peg for the yuan, it appears that the Chinese are looking to slowly ease that in an effort to become even more integrated in the global economy.
| Topic Tags: CFDs, contracts for differences, currencies, renminbi, spot forex market, spread bets, spread betting, yuan | |
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