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RMB Exchange Rate Increase Exceeded 0.7%

2010/7/14 8:49:00 40

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Last week, it reaffirmed the third week of the reform.

RMB

The exchange rate has risen or depreciated against the US dollar, but the fluctuation amplitude narrowed slightly compared with the first two weeks.

In the middle price, the five trading days last week, the RMB against the US dollar exchange rate fell on the two trading days, three trading days rose, up and down 57 basis points, but all maintained within the 6.77 range.

Last Monday, after a slight drop of 13 basis points on Friday's high week, it fell further to 6.779 on Tuesday and continued to pick up in the following three trading days.

Weakened by weak economic data, the US dollar index fell below the 84 integer mark last week, while the euro and other non US currencies came out of the recent strong.

The weak dollar has maintained a relatively small strength in the renminbi recently.

But market analysis believes that there is limited space for RMB appreciation.

After more than two weeks of rising volatility, the fluctuation of the yuan last week was a slight correction, helping to weaken the unilateral appreciation of the renminbi, controlling speculative risks and slowing the pressure on export enterprises.

If the central bank reiterates the previous one,

Trading day

In June 18th, the central parity rate of RMB against the US dollar was 6.8275, reaffirming that the appreciation of RMB against the US dollar exceeded 0.7% over three weeks.

Other main

currency

The Australian dollar was undoubtedly the most eye-catching currency last week and staged a Jedi counterattack against the US dollar.

Last Tuesday, the Australian dollar fell to a low level of 0.8317. After the Australian central bank issued an optimistic view of its economic prospects, investors began to supplement the Australian dollar. The strong Australian employment data further stimulated the market's expectation of the Australian central bank's interest rate rise in the coming months, and pushed the Australian dollar to 0.8790, up 5% over the weekly low.

Wei Tao analysis of foreign exchange analyst of Beijing branch of Bank of communications revealed that the Australian dollar broke through the medium-term downward path from the end of 4 last week, and laid the foundation for the subsequent market rally. The short term Australian dollar is expected to challenge 0.8850 in late June.