Intraday Analysis from FXMarketAlerts.com
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Little change in the spot prices into post lunch trades. 1-year NDFs finding some support above the 6.65-figure in otherwise rather steady price action. Shanghai bourses like the rest of Asia are holding on to gains on recovered risk sentiments though off 2% highs now. In news, NDRC and FinMin said that they will set up 20 venture capital funds in 7 Chinese cities to invest in key industries such as IT, software, alternative energy and energy conservation. Investment will be sought from non-govt sources though no specific details on the quantum of the funds. JA








