25 June 2018 ( Lagos): The other major headline in the FX markets is news of the Chinese Yuan weakening to its lowest level since December 2017. Fears over the possible ramifications that a trade war between the United States and China would have on the Chinese currency appear to have encouraged the Yuan to withdraw its previous gains in 2018 against the Dollar. The Yuan has now lost nearly 0.3% year-to-date, where it was previously seen as one of the best performing emerging market currencies this year.
There is speculation that the People’s Bank of China (PBoC) might be deliberately weakening the Yuan in an effort to strengthen the Chinese economy, in the event that the world’s two largest economies do actually get involved in a trade war. The central bank reduced the reserve ratio requirement for commercial banks by half a percentage point over the weekend, which some have attributed to providing the local economy with some ammunition should the trade war concerns with the United States intensify.
Source: Jameel Ahmad, Global Head of Currency Strategy & Market Research at FXTM and Lukman Otunuga , Research Analyst at FXTM
Reporting for EasyKobo on Monday, 25 June 2018 in Lagos, Nigeria
Top Stocks creating buzz on easykobo
Finance message boards
BullishAIICO INSURANCE PLC.PRESTIGE ASSURANCE PLC.NESTLE NIGERIA PLC
BearishAFROMEDIA PLCLAFARGE AFRICA PLCFLOUR MILLS NIGERIA PLC
Frequently Asked Questions (FAQ)
WELCOME TO EASYKOBO!
EasyKobo.com was created in the middle of the financial crisis that devastated the Nigerian capital
markets in the past 3 years. We saw people losing most of their money invested in company stocks.
Easykobo was created to provide a fresh approach to investing in the Nigeria capital markets where
accurate and up to date information is freely made available to investors so they do not blindly
invest in companies and lose their money.
Copyright © 2015-2016 EasyKobo.com by Naija infotech & solar energy ltd. All rights reserved.