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  1. Business - Banking & Finance - BANKING

    China's banks slash deposit rates as companies hoard US dollars

    Posted Aug 31st 2012, 12:00am by Bloomberg

    ... Bloomberg Loss of confidence in yuan's appreciation leads mainland companies to accumulate greenbacks As firms hoard US dollars, lenders slash deposit rates China's biggest banks are cutting US dollar deposit rates as the most bearish outlook for the yuan since 2009 prompts mainland companies to hoard the greenback. Industrial and Commercial Bank of China cut its one-year ...

  2. Strong US dollar may be what starts yuan's global rise

    Posted Apr 09th 2012, 12:00am

    ... Tom Holland It's become almost an article of faith that structural weakness of the US dollar will accelerate the internationalisation of the yuan; as one declines, the other ... be the US dollar's strength. In recent decades, the world has got used to using the US currency. Most of the world's trade is priced and settled in US dollars, even if the goods traded ...

  3. Business - Money

    US dollar hits new 20-month high, tops 85 yen

    Posted Dec 26th 2012, 09:09am by AFP

    ... Agence France-Presse in Tokyo The dollar rose past 85.00 yen in early Asian trade on Wednesday on expectations that the Bank of Japan (BoJ) would take more monetary easing steps under pressure from the incoming government. The greenback was at 85.10 yen shortly after 0000 GMT, the first time above 85.00 yen since April 2011 and up from 84.78 yen in Tokyo afternoon trade ...

  4. Australia seeks direct yuan conversion, a threat to US dollar's dominance

    Posted Jul 12th 2012, 12:00am

    ... such a bilateral currency arrangement. The move is designed to help the Sino-Australian commodities trade and would pose a fresh challenge to the world dominance of the US dollar. It comes just two weeks ... after the US dollar for which direct conversion into yuan is permitted. Wayne Swan (pictured), Australia's deputy prime minister and treasurer, told a Hong Kong forum yesterday that he ...

  5. StanChart sees yuan fall against US dollar

    Posted Jun 07th 2012, 12:00am

    ... Lulu Chen lulu.chen@scmp.com The yuan is likely to depreciate against the US dollar this year due to weakening economic growth at home and slumping exports, Standard Chartered economists ... the yuan to the US dollar as it did after the 2008 financial crisis, and sees it continuing to allow more two-way movement in the currency. Beijing scrapped the yuan's decade-old peg ...

  6. Could the US dollar really collapse 33pc in a single day?

    Posted Nov 21st 2011, 12:00am

    ... is ushered in by a new financial crisis in which the US dollar loses a third of its value in a single day. In Chan's book, the US dollar's collapse is a handy plot device. But for the inhabitants of Hong Kong, much of whose wealth is tied to the US currency through the city's exchange rate peg, the thought of a US dollar crash is deeply unsettling. Reading The Fat Years, ...

  7. Pledge to keep the US dollar peg promises a volatile future

    Posted Mar 29th 2012, 12:00am

    ... currency peg to the US dollar. Business bosses favour the peg because of the certainty they say it brings. But while they are surely right that the US dollar peg is better than the suggested alternatives, it promises little by way of stability. On the contrary, the peg may take us on a wildly volatile economic ride over the coming years. That is because the US dollar itself is likely ...

  8. HK's circumstances have not altered enough to invalidate peg to US dollar

    Posted Jun 16th 2012, 12:00am

    ... Joseph Yam Chi-kwong's recent paper rehearses at length the arguments for and against the Hong Kong peg to the US dollar ('HK 'can ditch dollar peg'- Yam', June ... circumstances have not altered enough to invalidate that support. In 2047, the Hong Kong dollar will inevitably be fused with the renminbi. Many expect it to happen sooner. Whether it does should depend ...

  9. Beijing suffers attack of nerves over its holdings of US dollars

    Posted Jul 21st 2011, 12:00am

    ... Safe's officials have in mind is Safe itself. No one knows exactly how much of Safe's US$3.2 trillion stash of foreign currency is denominated in US dollars. But if China's holdings are in line with other countries', the proportion is at least 60 per cent. And given that the bulk of China's trade is denominated in US dollars and that Beijing has long managed the yuan ...

  10. Bank tipped to ease yuan's peg to U.S. dollar

    Posted Jun 08th 2011, 12:00am

    ... Lulu Chen lulu.chen@scmp.com The People's Bank of China may allow the yuan to fluctuate more against the US dollar in a few weeks to check inflation, according to Standard Chartered ... that the People's Bank of China could widen the daily US dollar-yuan trading band- a formal exchange rate range the central bank is required to maintain- as it 'could create the conditions for modestly ...




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