China expands FX market
New angles
China has launched an interbank foreign exchange trading system, giving firms the ability to trade an additional eight currency pairs onshore. The move has led to speculation that a shift in China's currency policy may be on the cards.
"The start of China Foreign Exchange Trading System (CFETS) is significant because it further develops a framework that will assist in the expected implementation of a more flexible currency regime in China," says Peter Clarke, Singapore-based head of
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