Wednesday, May 1, 2013

Reuters: US Dollar Report: CNH Tracker-A booster shot for the Hong Kong market

Posted by Ava on 9:10 PM

Reuters: US Dollar Report
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CNH Tracker-A booster shot for the Hong Kong market
May 2nd 2013, 03:19

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Wed May 1, 2013 11:19pm EDT

  By Saikat Chatterjee      HONG KONG, May 2 (Reuters) - Latest reforms in the offshore  yuan markets will help banks overcome periodic shortages of cash  and signals a new pipeline of products in a market that has  stagnated in recent quarters.      In a series of steps last Thursday, the Hong Kong Monetary  Authority, the city's de-facto central bank, removed trading  limits and dismantled mandatory reserve requirements for banks  trading the offshore yuan.       The measures taken were essentially two-pronged in approach:  to help investors manage their interest rate exposure on the  back of a growing bond market and offer banks more yuan funds to  boost their trade settlement business.Even as the yuan hits a series of record highs guided by the  People's Bank of China, doubts are rising on how far the  currency can go with valuations already near the top end of  historic ranges.                        RECENT STORIES:  CNH Tracker-A death knell for the yuan non-deliverable market?                                Hong Kong creates reference rate for offshore yuan markets                                Chinese strong talk on yuan reform masks policy quandary                                  More stories about the CNH market                   Daily onshore yuan reports                          Daily China money market reports                        Offshore yuan rate    Onshore yuan rate    Offshore yuan dealt Onshore yuan on CFETS       THOMSON REUTERS SPEED GUIDES
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