Yen Stabilizes After Intervention Slide as Australian Dollar Hits Eight-Week High 
England Drought Expands to 71% as Heatwave Deepens Water Crisis 
RBI Holds Repo Rate at 5.25% as Inflation Risks and Global Uncertainty Persist 
RBA Signals More Rate Hikes Possible as Australia Battles Stubborn Inflation 
BOJ Rate Hike Expectations Rise Ahead of September Meeting 
Japan Services Producer Prices Rise 3.2% in June, Supporting BOJ Rate Hike Expectations 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Asian Stocks Mixed as RBA Holds Rates, Oil Risks Rise 
Gold Prices Hold Near Seven-Week High as Markets Await U.S. Inflation Data 
Oil Prices Rise as Hormuz Reopening Remains Uncertain 
European Stocks Flat as Oil Prices Rise, US CPI in Focus 
The Chinese central bank, PBOC, has agreed to establish direct trading between its yuan currency and seven foreign currencies. In an announcement made on its website earlier today, the central bank noted that China will start direct trading between the Yuan and seven more currencies starting Monday December 12th.
The seven foreign currencies against which yuan direct trading will be established include the Norwegian krone, Mexican peso, Polish zolty, Swedish krone, Denmark krone, Hungarian forint and Turkish lira will begin on Dec. 12, the China Foreign Exchange Trade System (CFETS) said in a statement on its website.
Meanwhile, the CFETS, the interbank trading and foreign exchange division of PBOC, said that the purpose of commencement of direct trading between the Yuan and other currencies is to facilitate bilateral trade and investment with these countries and lower exchange rate costs.
