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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 368.80

+0.2%

Nov 3 4:00 PM EST

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To: TobagoJack who wrote (95682)	10/20/2012 12:52:57 PM
From: elmatador	Read Replies (1) of 217529

Yuan Hits Fresh Record High "...will likely rise more in the near term as there may be more upside ahead for the euro with improved risk appetite in the overseas markets," said a Shanghai-based trader with foreign bank. Some analysts also said that the Chinese central bank might have set the yuan's fixing stronger on the day of the second round of U.S. presidential debates, in order to appease criticism of China's controversial currency policy. "We maintain our view that the [yuan] is likely to go further up in the near term and may reach 6.20 in the next few weeks" as China may be trying to prevent a victory by candidate Mitt Romney in the U.S. presidential election, said Dariusz Kowalczyk, a strategist with Credit Agricole ACA.FR -2.20%CIB. During the second of three debates Tuesday ahead of the U.S. presidential election next month, Mr. Romney lashed out at President Barack Obama and repeated his previous pledge to label China as a currency manipulator, adding that he might introduce punitive tariffs on imports of Chinese goods. The central bank has allowed the yuan to rise at a faster pace since late September in a likely conciliatory gesture to Washington in the run-up to the U.S. presidential election early next month. online.wsj.com

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