Category: Currencies

Sterling gets pounded after YouGov poll shows slim majority favor Scottish Independence


Sterling has been pounded by the YouGov poll that showed that those favoring Scottish independence have gained a slim majority for the first time.  It does not matter than other polls have yet to confirm it.  A “yes” vote was widely seen as a high impact event, though calling it a Black Swan probably does not do justice to the long planned event.  The major parties in the UK are expected to announce a new devolution agreement for Scotland to entice the rejection of independence.  

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Chinese Yuan Hits 19-Year High Against Dollar


The Chinese yuan hit a record high against the U.S. dollar in intraday trading on Wednesday as the People’s Bank of China lifted the currency’s reference rate, fuelling speculation that the central bank will soon allow greater appreciation of the yuan.

Currency


A form of money that serves as a medium of exchange in a country and is meant for public circulation within it is called currency. It also functions as a standard measurement and store of value. Paper notes and coins issued by central banks become the currencies of the respective countries.

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Cross Currency


Cross currency trading refers to forex transactions that do not include the US dollar (USD). A cross rate refers to a currency pair that excludes the US dollar. An example of a cross rate is GBP/JPY, in which the two currencies being traded are the British Pound and Japanese Yen.

 

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