EURUSD - Trends, Forecasts and Implications (Part 1) - page 986
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11.02.2010 17:20
China has ordered bankers to divest from dollar assets
The Chinese government ordered the country's funds, managing currency assets, to withdraw funds from risky, in their opinion, dollar assets. It was reported by The Daily Telegraph, citing the Chinese edition of Asia Times.
According to the Chinese authorities, the country's funds should limit investments to U.S. Treasury bonds, which are backed by government guarantees as well as securities of mortgage agencies such as Freddie Mac.
The Chinese Communist Party's order concerns state-controlled commercial banks as well as the State Administration of Foreign Exchange. The total amount of foreign exchange assets under their management is estimated at three trillion dollars.
China is the world leader in investing in US treasury bonds. In the middle of last year China held more than $800 billion in bonds.
In addition, China invested $9.6 billion in US equities in 2009. For example, China Investment Corporation, a state-owned fund, became the owner of minority stakes in Apple, Coca-Cola, Johnson & Johnson, Motorola as well as Morgan Stanley, Bank of America and Citigroup.
http://www.lenta.ru/
Guys, look at what the Canadian dollar is doing .....
I don't like this.
I don't want the eurik to go back up as fast on the news !!!!
Might not make it to my 1.3478......
Well I personally would love to.....
China Raises Banks' Reserve Ratio For Second Time This Year
Accordingly, the required bank reserve ratio for big five banks would be 16.5%, up from 16% and that for small banks would be 14.5%.
Thought it was going to be 88.5.
and it keeps going up and up.
Может и не дойти до моей 1,3478......
Ну мне лично очень бы хотелось.....
1.3461 I think we'll be here
There's not much of a reaction...
Even though the news is for a quid...
We were expecting about 3.3, it came out 0.5.