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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Chispas who wrote (17499)	12/2/2004 10:44:09 PM
From: RealMuLan	Read Replies (1) \| Respond to of 116555

Don't know. Since it has never been made public, so maybe your guess is as good as mine<g>. Quite a few Chinese economists think China usually keeps about 10% of his foreign reserves as Yen, after all, Japan is China's largest trading partner. And before last year, China kept 5-7% as Euro, but since this year, China slowly, quietly, but aggressively increases the share of Euro, maybe some gold too, so now some economists guess 15% or more are Euro. And 5% or more are gold and other Asian currencies, so that leaves 70% or less for US$. And on Dec. 15, the US Treasury will publish the data for Oct. so maybe that will tell some story. My guess is that China has finished to do whatever they want for now, and will stay put before US$ recovers somewhat before the next move. MB said China is pretty active in currency market<g> And I hope they won't end up losing a lot of money as they did in copper and jet fuel trading. Message 20812049