Obama Tours in China

Pres. Obama tours in China brings articulations from all over but somehow, this is not the way why he was headed to the communist country. China allow's some yuan appreciation with Obama first trip to Beijing as the United States and China sparred exchange rates in Asia Pacific leaders meeting on Sunday. According to Reuters report, the United States dollars getting more lower in Asia headed to a week and to see increased on currencies both in China and the president of United States.

Stock exchange market focused on the rising yuan which could lift up currencies across the Asia Pacific region. Recently, this issue could somehow lead to a short-covering for Euro/Yen pair. It is reported before that the Euro had already fallen against Japanese currency as shorts initiated that if they rise yuan, this may take off pressures on Euro.

"We suspect that (further) yuan appreciation would leave eurozone officials more comfortable with euro trading above $1.5000 since the region would receive an offsetting boost in competitiveness against Asian currencies," said John Kyriakopoulos, currency strategist at National Australia Bank (NAB).

You can read the entire report in Reuters web post. [Connect from here]