The Chinese Yuan had a volatile Monday, thanks to poor data in the early morning. The China trade balance was US$10 billion below expectation, although it did not have as dramatic effect as expected – despite reaching a weekly low against sterling. Today’s release of New Loans statistics is unlikely to cause as much volatility, but is expected to be 11% higher than previous.
Another bad day for the Swiss Franc yesterday, as it fell by over 1% against sterling and the US dollar – perhaps due to its close relationship with the euro. Today’s PPI data is expected to be better than last, and the Swiss will be hoping for some positive results, because another loss of a 1% would push the Swiss franc to a four month low against sterling.
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