From China on Monday came news of renewed promises of economic support:
- On Monday, China promised more stimulus. Another promise or for real this time?
- Rate cuts, tax cuts and fee cuts expected from China, say state-sponsored financial media
In addition to the higher yuan, Chinese stocks are also higher.
“Hong Kong’s Hang Seng is up around 3%, while the Shanghai Composite is up around 1.5%.
The notification effect has an impact, traders will wait for details later.
This article was written by Eamonn Sheridan at www.forexlive.com.
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