Traders have jumped on the headline and people have shouted out China is going to make the currency convertible. China is not going to make the currency convertible they are going to allow domestic investors to invest in foreign markets.
More Quotes from Robert Rennie:
The yen is weakening so much versus other currencies. The pace of decline of the yen is causing stress and strain within Asia, where central banks may be showing some concern.Robert Rennie
Whether the minutes will tell us with any great clarity what lies ahead remains to be seen but at least for the moment the market is basically pricing in two more 25 basis points hikes.
Robert Rennie
Machinery orders are important and the better-than-expected numbers will be yen-supportive.
Robert Rennie
Underlying interest rates still remain very supportive for the U.S. dollar.
Robert Rennie
There's two things you know about the weather One, you can't stop it and two, you can't predict it. I wouldn't want to be heavily involved in foreign- exchange markets in next 24 hours.
Robert Rennie
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Based on Keywords: convertibleNothing is so intolerable to man as being fully at rest, without a passion, without business, without entertainment, without care.
Blaise Pascal
It's great to go on your own and discover new things just for yourself, to meet new people and all that. If you're all on your own, then there is nobody there to guide you and you have to make all the decisions for yourself. It's quite liberating in a way.
Dido Armstrong
Frugality is for the vulgar.
Francois Rabelais