The Renminbi Weakened Slightly Against The US Dollar Exchange Rate.

This week, influenced by the strength of the US dollar, the central parity of RMB against the US dollar weakened, but the overall trend of the dollar rebounded steadily during the week. Analysts pointed out that two-way fluctuations in the RMB exchange rate reflected the increase in exchange rate flexibility, and it is expected that the renminbi will continue to maintain a strong trend in the future.

The five trading day of this week is announced by China foreign exchange trading center. RMB The intermediate price of the US dollar fell two trading days, and the three trading days were stronger. The weekly wave amplitude was 125 basis points. On Monday, the central parity of the RMB against the US dollar continued downward trend last week, down 72 basis points from last Friday to 6.5089, and continued to fall to 6.5108 on Tuesday. In the next three trading days, the central parity of the RMB against the US dollar rebounded steadily and returned to the 6.49 interval again on Friday, reaching a high level within 6.4983 weeks.

This week, the trend of the RMB exchange rate is mainly affected by overseas markets. Greece's debt restructuring has raised the issue of European debt again, and the US dollar has come out of a strong trend recently.

The minutes of the April meeting of the US Federal Reserve Commission released on Wednesday showed that after the second quantitative easing policy expired in June, the Fed would give priority to raising interest rates, making the market speculate that the timing of raising interest rates may be slightly smaller than expected, which provided some support for the US dollar. But the Bank of China (601988, stock bar) researchers believe that in the short term, the US dollar will continue to attack, and it also needs basic cooperation. From the current environment, this needs further deterioration of the Greek problem, and the significant economic data of the United States have improved substantially, or the Congress has reached an agreement on raising the US government debt ceiling.

Some traders pointed out that even in the early dollar index rebound process, RMB The revaluation of the US dollar exchange rate is also less than the former, indicating that the market still has strong expectations for the appreciation of the renminbi. Under the current domestic inflation pressure is still strong, it is expected that the RMB exchange rate will remain strong and strong trend. On the other hand, the recent two-way floating characteristics of RMB also show the further enhancement of RMB exchange rate flexibility.

In June 19, 2010, the central bank announced further progress. RMB rate Since the reform of the formation mechanism, the RMB has appreciated slightly, the characteristics of two-way floating are obvious, and the exchange rate elasticity has been significantly enhanced. In the middle price, the appreciation of RMB has reached 5% since June 19, 2010. This year alone, the yuan has appreciated by more than 1.9%.

In the forward market, on the evening of 20 nights, the overseas non capital delivery market was used to measure the expectation of RMB appreciation in overseas markets. Compared with the spot exchange rate, the US dollar showed that the RMB appreciation rate was 2% after a year, and the appreciation expectation was still strong.

Because the bad news has been digested by the market, the euro has steadily rebounded this week, and has also drawn a steady weakening of the central parity of RMB against the euro. However, with the international rating agency Fitch on Friday, Greece's long-term foreign currency and local currency issuers default rating from "BB+" to "B+", and the negative rating outlook, sparked a sharp decline in the euro. Market participants pointed out that in the Greek debt restructuring clouded, the euro will be expected to maintain a weak trend in the short term.