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China Will End Peg Of Yuan To Dollar
June 21st, 2010
Mostly all of the hype this morning is a result of the announcement that China will end the peg of the yuan to the dollar which has boosted investors’ confidence in the global economy.
The original two-year currency peg was adopted during the global financial crisis to protect exporters from currency values. Now, the “un-peg” is really a good sign that policy makers expect the economy to strengthen. This is why we are seeing the markets rally so hard this morning.
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| NASDAQ | 2905.66 | ||||
| S&P 500 | 1344.90 | ||||
| ^TNX | 1.95 | ||||
| ^XAU | 200.34 | ||||
| ^XOI | 1295.01 | ||||
| GDX | 56.44 | ||||
| DUG | 23.17 | ||||
| EDZ | 12.38 | ||||
| DOG | 36.72 | ||||
| XLF | 14.73 | ||||
| CMD | 52.74 | ||||
| FXP | 22.06 | ||||
| GLD | 167.64 | ||||
| BGZ | 23.50 | ||||
| TLT | 116.57 |
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