Friday, July 16, 2010

Who is the biggest punter in currency market?

Euro to Gain 6% as China Moves Reserves Away From U.S., Faros Trading Says

Europe’s common currency will gain 6 percent to the highest since April over the next two months after China’s June 19 decision to end a yuan peg to the dollar gave it the flexibility trim Treasuries holdings………………….Premier Wen Jiabao said today Europe is a major market for China to invest its foreign-exchange reserves. China’s foreign-exchange reserves, the world’s largest, totaled $2.45 trillion at the end of June and the country has the biggest overseas holdings of U.S. Treasuries.

Posted by simon68 @ 06:23 PM (901 views)
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