Commentary
Add as a preferred source on GoogleIMF's Executive Board has taken major decision by approving a new composition of the so-called Special Drawing Rights (SDR) basket effective from October 2016 and the next five years. After USD, EUR, GBP and JPY, now Chi…
IMF's Executive Board has taken major decision by approving a new composition of the so-called Special Drawing Rights (SDR) basket effective from October 2016 and the next five years.
After USD, EUR, GBP and JPY, now Chinese renminbi entered into the basket of freely usable currencies. The IMF also changed the currency weights, after revising, the USD will have 41.73%, followed by EUR 30.93%, CNY 10.92%, JPY 8.33% and GBP 8.09%, notes Nordea Bank.
USD/CNY is currently trading around 6.8954 marks. It made intraday high at 6.8978 and low at 6.8835 levels. Intraday bias remains bullish till the time pair holds key support at 6.8835 mark. A sustained close above 6.883…
USD/CNY is currently trading around 6.8729 marks. It made intraday high at 6.8937 and low at 6.8658 levels. Intraday bias remains bearish for the moment. A sustained close above 6.8923 marks will test key resistances at …
USD/CNY is currently trading around 6.9286 marks. It made intraday high at 6.9492 and low at 6.9274 levels. Intraday bias remains bearish till the time pair holds key resistance at 6.9540 mark. A sustained close above 6.…
