One of the most interesting events of the night was very weak for fixing the yuan, due to pressure on Chinese authorities by the U.S., as the House of Representatives votes on the issue of currency in the middle of the week. USD / CNY has sunk to new 17-year low at 6.6950 before the People's Bank of China set the exchange rate at 6.7098 above 6.6997 last Tuesday. Some commentators may assume that China is deliberately provocative poses to strengthen the debate with the U.S.. It may also be that China wants to prevent excessive speculative capital inflows, which would have undue influence on the currency. In the coming days we can get a clearer idea of the strategy of China. Earnings in industry in the country for the first eight months of this year rose by 55% compared with the previous one, ie the economy feels herself.
Secure currency weakened after strong data on U.S. capital goods. The three main currency of refuge, namely, the dollar, Swiss franc and yen, have fallen markedly in the last trading day of the week after a fairly favorable Ifo data from Germany, which led to securities notable impetus to growth. The dollar index fell another 1%, while the USD / CHF fell below 0.98. Euro was the real winner, reaching 1.35. Just two weeks ago it was around 1.27, ie eur come a long way, despite continuing concerns about PIGS. Spanish and French budget was well received, especially in comparison with the Portuguese on the previous day. Pound followed the euro, reaching a minimum of 1.5850 to 1.5640 day. Currencies with high beta also looked excellent: OSSI registered 2-year-old maximum of 0.9624 in trading in Asia.
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