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Where Is The Yuan Headed?

Saturday, November 26, 2016 22:54
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Written by John O’Donnell, Online Trading Academy

Chart of the Week 14 November 2016

China wants the yuan to have ‘a seat at the table’ of global primary exchange currencies. In anticipation that global currency reserves will move away from exclusive use of the dollar to a basket of currencies, China wants the yuan renminbi to join that basket, along with the euro, pound, yen and the dollar. To that end, they have been accumulating gold reserves totaling several thousand metric tonnes.

China’s accumulation of gold is discussed in video after the Read more >> jump.


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