I posted on the weakness in AUD and NZd:
Both have bounced 30+ points from their lows, with the euro performing very strongly indeed. How much longer before we all start to talk about EUR as an alternative reserve currency for the USD (it already is to an extent, but I mean more)?
We are approaching the CNY daily reference rate setting. I am expecting the PBOC to hold the line again today, which will take some pressure off for as long as a few hours 😉
- Expectations are for another very heavy dampening of USD/CNY reference rate again today
- PBOC is expected to set the USD/CNY reference rate at 7.3348 – Reuters estimate
This article was written by Eamonn Sheridan at www.forexlive.com.
