U.S. Dollar in Forex Trading

235481 Resource 119232 120646 120646 1246285239860 1246285239860 Controlled U.S. Dollar Gains on Chinese Announcement

Chinese will retain U.S. dollar assets

China announced that it would not be making efforts to get rid of the U.S. dollar as the world's reserve currency any time soon. Indeed, China announced its <a href="http://blog.gftuk.com/public/item/235477" target="_blank" title="dollar, U.S. dollar, forex trading, currency trading, Chinese yuan, Boris Schlossberg, FX360, greenback currency trading, dollar forex trading">support for the dollar</a> as the world's reserve currency. The move helped increase confidence in the greenback, and led to strength for the dollar in forex trading. Boris Schlossberg reports in FX360 about the <a href="http://www.fx360.com/commentary/boris/1476/dollar-bid-as-week-begins.aspx?aid=5704" target="_blank" title="dollar, U.S. dollar, forex trading, currency trading, Chinese yuan, Boris Schlossberg, FX360, greenback currency trading, dollar forex trading">impact the Chinese announcement is having on the greenback in currency trading</a>: <blockquote> The dollar gained broadly across the board at the start of trading this week after Chinese officials reaffirmed the reserve status of the greenback at the BIS conference at Basel over the weekend. PBOC governor Zhou Xiaochuan told reporters that China’s “foreign exchange reserve policy is always quite stable”, making a tacit acknowledgment that for the time being the Chinese do not intend to diversify out of their dollar denominated assets. </blockquote> This does not mean that China's ambitions to be the next economic superpower have faded. Indeed, China continues to position the yuan through currency swaps with emerging market economies. It may be that China is getting ready to take over as the reserve currency two or three decades down the road. 9 application/xml false Boris Schlossberg Chinese yuan currency trading dollar dollar forex trading forex trading FX360 greenback currency trading U.S. dollar U.S. Dollar in Forex Trading Currency trading on the FX market http://www.fx360.com/?aid=5704 Mozilla/5.0 (Macintosh; U; Intel Mac OS X 10.5; en-US; rv:1.9.0.11) Gecko/2009060214 Firefox/3.0.11 GTB5 127.0.0.1 127.0.0.1 mmarquit 63.248.48.57 false true false false true 119232 blog blogsite/GFTForex/web