China's full opening-up of its financial sector to help stabilize yuan in long term – China Press


China’s news outlet, the Economic Information Daily carried an opinion piece on Monday, citing that the recent financial market reforms by China will help to stabilize its domestic currency going forward.

Key Quotes:

“China's full opening-up of its financial sector will help to stabilize the yuan in the long term.

More foreign investors in the Chinese market will help smoothen the flow of cross-border funds, lending fundamental support to the yuan.”

Meanwhile, the USD/CNY pair extends its rebound from three-month lows of 6.9676, now back on the 7.00 handle. The cross trades +0.10% higher at 7.0029, mainly driven by the Hong Kong chaos induced selling in the Chinese yuan.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD falls toward 1.0850 amid relative coronavirus calm

EUR/USD is trading closer to 1.0850 as bargain-seekers grab stocks and push US yields higher after the coronavirus-related sell-off. Conflicting headlines about potential German stimulus have weighed on the euro.

EUR/USD News

GBP/USD pressured under 1.2950 amid Brexit, coronavirus fears

GBP/USD has been unable to recapture 1.2950 as markets are somewhat less worried about coronavirus. The EU's mandate for post-Brexit talks confirmed demands for a level-playing field that the UK rejects.

GBP/USD News

Cryptocurrencies: Exaggerated neurotic fear? Price doesn't lie

Current levels do not justify negative market sentiment. The panic created by Covid-19 could underpin the mass adoption of Blockchain technology. The main moving averages provide key support levels after the sharp rises from the December levels.

Read more

Gold surrenders early gains, refreshes session low around $1630 region

Gold surrendered its early modest gains and has now drifted into the negative territory, refreshing session lows around the $1634-335 region.

Gold News

FXStreet launches Real-Time Trading Signals

FXStreet Signals offers access to explanatory live webinars, real-time notifications when signals are triggered and exclusive membership to the company’s Telegram group, where users get direct guidance by our analysts and get room to discuss and interact.

More info

Forex MAJORS

Cryptocurrencies

Signatures