The yen firmed on Friday, spiking to a 2 1/2-week high as investors braced for the possibility that the BOJ's expected easing steps will disappoint. » Read More
China's economic and currency outlook will depend on the rest of China's liberalization process, not just the SDR inclusion, notes Jesper Bargmann, Asian head of trading at Nordea Markets.
Andy Xie, independent economist, explains why the Chinese yuan inclusion into the SDR basket will not significantly change China's money supply.
The renminbi as a global reserve currency will help to better manage China's capital outflows, says Dominic Schnider, head of commodity & APAC FX at UBS Wealth Management.
Richard Titherington, CIO of emerging markets equity at JPMorgan Asset Management, says Chinese market regulators are always one step behind market developments.
Andrew Freris, CEO of Ecognosis Advisory, gives examples that show how Chinese yuan is not actually freely tradable.
Steve Goldman, MD at Kapstream Capital, says China, Asia and the rest of the world will devalue their currencies against the stronger dollar.
Hans Goetti, chief strategist at Banque Internationale a Luxembourg, discusses the possibility of further yuan devaluation in response to the dollar strengthening after a Fed hike.
The dollar hit an eight-month high against a basket of currencies on Friday.
China's slowdown will be a long-term trend regardless of what the People's Bank of China does, says Dickie Wong, executive director of Kingston Securities.
The euro fell back towards seven-month lows against the dollar and shed ground against the yen as investors piled on bets against it.
While the yuan's inclusion in the SDR basket has little economic impact, what it symbolizes is important, explains Shane Oliver, head of investment strategy and chief economist at AMP Capital Investors.
The dollar rose after strong economic data further backed the case for the Federal Reserve to raise interest rates.
The U.S. dollar edged down as investors piled into safe-haven currencies on concerns about rising tension between Russia and Turkey.
While the currency has been calm for a while, it will take much longer to fully stabilize as Beijing moves to make it more market-driven, says Choon Han Ching, investment manager and principal at Kriya Capital.
The dollar rose to an eight-month high, as comments from a regional Fed president further cemented expectations of a rate hike next month.
Comments from European Central Bank chief Mario Draghi sent the euro down half a percent to below $1.07.
Chinese banks are alarmed by a rising number of defaults among jewelry manufacturers, prompting them to review new gold lending more carefully.
China's yuan may enter the IMF's basket at a lower weighting than previously estimated as the IMF considers rejigging the basket.
The dollar weakened across the board on Thursday after rising for four straight sessions.
The U.S. dollar stumbled against a basket of currencies on Thursday, even as the Fed's minutes indicated that a December rate rise is on the cards.