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28 May 2015

USD/CNY: Watch rates in China - BTMU

FXStreet (Guatemala) - The Bank of Tokyo-Mitsubishi UFJ, Ltd noted the conditions surrounding USD/CNY.

Key Quotes:

"We think rates start to rise past month-end: i) PBOC's repo signaled short-term withdrawal of liquidity; ii) it's tax-payment time; iii) there are IPOs still coming; and, iv) offshore still has the annual MOF issuance. An even better view than rising rates is a steeper curve."

"Not that any of this matters for the currency, which doesn't trade on rates. We've seen some 50-pip range days that reminded us of two band widenings ago."

"We advised last month to begin to position for strengthening, so we're watchful not only of bottoming but actual improvement in economic indicators as we progress through May."
May 28, 2015

EUR/USD consolidates above 1.0900

The euro managed to reverse intraday losses versus the greenback and turned positive during the American session as the US currency weakened across the board.
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May 28, 2015

Fed's Kocherlakota: Risky if Fed raises rates this year

Fed's Kocherlakota continues to cross the wires, via Reuters, noting that if fed raises rates this year, things could go okay, but would be risky.
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