Dutch Central Bank Sale Announcement Imminent? Message Board

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Politics : Dutch Central Bank Sale Announcement Imminent?

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To: sea_urchin who wrote (21937)	11/25/2004 4:59:56 PM
From: sea_urchin	Read Replies (2) of 80934

USD a big no-no in China theglobeandmail.com >>In Chinese street slang, they are known as the ''yellow bulls'' -- the underground traders who lurk outside the banks in aggressive pursuit of currency deals. But despite their business zeal, there is one commodity they are unwilling to buy on the street these days: U.S. dollars. "Everyone is converting their dollars to Chinese yuan," one black-market trader confided as he stood outside a bank in Beijing yesterday. "Our business is getting more and more difficult," he said. "It's hard to find anyone buying U.S. dollars any more. The value of the yuan is definitely going to increase."<< Chinese goods will thus be more expensive in dollars and that will put a screw on the buying-power of the US consumer.

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