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What China’s Move Means For The Dollar

Free Sundays with NewstraderFX

What China’s Move Means For The Dollar
Saturday, June 19th, 2010 @ 3:35 pm by Matt "NewstraderFX" Carniol

About Matt "NewstraderFX" Carniol:

Matt Carniol been an active participant in the markets for over 20 years, primarily in stocks and real estate, trading currency since about 2002. Matt is a frequent contributor to ForexFactory and other forex websites, and goes under the name NewstraderFX.

About Me My Articles

The People’s Bank of China (the Chinese Central Bank) has decided to “proceed further with reform of the RMB exchange rate regime and to enhance the RMB exchange rate flexibility,” according to a statement posted its website.

“The global economy is gradually recovering. The recovery and upturn of the Chinese economy has become more solid with the enhanced economic stability. It is desirable to proceed further with reform of the RMB exchange rate regime and increase the RMB exchange rate flexibility,” today’s statement went on to say.

Once you understand the real reason behind China’s decision, you’ll appreciate where the dollar is likely to be heading over the coming weeks and months against the euro, pound and Australian dollar as well.

This exclusive content is available only to members of my Trade Room. If you want to learn how to profit from this major fundamental event, Join My Trade Room and continue reading below:

Posted in News Trading Perspective

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