USD/CNY Tightening Stories
By Reuters
posted 8:36 11/15/10
| Currency News
 
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Nov 15 – (IFR) - USD/CNY was fixed in Asia on Friday at 6.6239, down slightly from Thursdays 6.6242 fix. The OTC market traded a broad 6.6258-6.6555 range; last at 6.6370. The USD/CNH last at 6.6150/00 as it keeps pace with the USD/CNY moves. The 1-yr NDF last at 6.4670/00. The Shanghai Composite closed down 5.2%. Another China tightening story plus capital controls talk in South Korea set off a nasty round of risk selling across the board in Asia. The SSEC recorded its biggest percentage loss in 14 months as big cap and resource stocks were dumped en masse. The NDF curve was shunted hard to the right as a consequence. On Friday night the 1-yr NDF traded a 6.4550-6.4600 range; the 1-yr was last at 6.4560/10.

 
 
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