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Research: Hong Kong Will Likely Retain Its Role As the Primary Centre for Pricing Offshore Cny

Sep 14 2012
By
Forexbrokerz.com

Quotes from Standard Chartered:

-Given the Taiwan authorities' likely caution in allowing unrestricted CNY flows into and out of the Taipei market, it will be natural for the USD-CNT and USD-CNH rates to diverge. Just as demand and supply for US dollars (USD) onshore in Taiwan (or, indeed, mainland China) do not have a major impact on USD valuations across the global financial system, it is unlikely that USD-CNT will be a major influence on USDCNH in Hong Kong (and globally).

-The development of the USD-CNT spot rate may sound like a major new market innovation - a potential threat to USD-CNH. However, a range of spot conventions already exist for CNY trading outside mainland China. Hong Kong will likely retain its role as the primary centre for pricing offshore CNY, with USD-CNH as the key exchange rate for 'general purpose' CNY outside mainland China. 

The material has been provided by Instaforex Company - instaforex.com
TAGS: Research:  Hong  Kong  Will  Likely  Retain  Its  Role  As  the  Primary  Centre  for  Pricing  Offshore  Cny 
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