ForexLive Asia FX news wrap: CNH adds to gains on bond news – ForexLive
Forex news for Asia trading
There was not a lot to move
major FX from news nor data flow during the session. The most impact
came from news that China government bonds (CGBs) look set to be
included in the FTSE Russell flagship World Government Bond Index
(WGBI). The index is made up of mostly developed market bonds and is
a major step for CGBs. Chinese government bonds are already included
in two other major global indexes, JPMorgan’s and Bloomberg’s. A
couple of points that have been made but may be lost in the
decision is subject to confirmation in March 2021
approved then the bonds will be phased into the index from October
bullets above for more)
yuan was trading at the time of the announcement, it added to its
gains against the USD.
major forex rates traded in limited ranges only and as I update there
is little net change. USD/JPY did manage to trade above 105.50 (same
as its US high give or take) for a time. Late last week the word was
that 105 was the new line in the sand we’d never see again as
‘real’ rates in Japan were attractive (I posted on my doubts over
this a couple of times) and that level did indeed hold into this
week. However the move back above 105 came from mid-week and the
higher range has consolidated again today, albeit without adding much.
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