Currency Note Worldwide

Yuan not affected by poor Chinese data

By Ricky Bean November 11th, 2015

The Chinese suffered some poor data early yesterday as their Consumer Price Index came out at 0.2% lower than expected. However, the currency was relatively unaffected by this, and maintained its level throughout the day.

In other news, the Yuan took another step towards becoming more of a global currency as it became directly tradable with the Swiss Franc. The Yuan will now be able to fluctuate 5% from the daily fixing. These are all measures that will help the Yuan achieve reserve currency status with the International Monetary Fund.

Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.