World’s traders catapult China to FX big league on yield appeal ...Qatar

The Chinese renminbi’s accelerating transformation from a sleepy backwater of the foreign-exchange market into a currency fit to rival global peers has traders setting aside concerns about how much further it can go without reform and buying into its ascent. In London – the world’s centre of foreign exchange – there’s more yuan changing hands than ever before. Options on the Chinese currency exceed those referencing the Japanese yen, and buying or selling the yuan is now as cheap as trading the British pound. Against this backdrop, there are signs the renminbi is playing an increasingly larger role in influencing broad dollar moves, according to Wells Fargo & Co. There have been many false

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Last updated : 22 February 2021 clock 09:16 PM

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World’s traders catapult China to FX big league on yield appeal ...Qatar

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