Just thought I'd share a currency move I made and the reasoning. China is under increasing World pressure to "de-peg" its currency from the dollar and it sounds like they'll cave soon. If that happens the renminbi will immediately be worth much more than the dollar (the trade deficit guarantees that!) and therefore any renminbi you own before the de-peg is practically guaranteed to rise in value. If China does not de-peg then you don't lose because of the peg.
However, the amount of the move will likely be very slow so don't expect whopping returns. So how could you lose? Well, China is a communist country; enough said. Lastly, I'm not a financial advisor and your mileage may vary. ----------------------- China may speed up reform of currency regime By Geoff Dyer in Boao, Hainan Published: April 24 2005 15:03 | Last updated: April 24 2005 15:03 China could accelerate its plan to reform its controversial currency regime because of mounting international pressure, the head of the country's central bank admitted at the weekend. Zhou Xiaochuan, governor of the People's Bank of China, said that the government was still working on the "sequencing" of a potential policy change, but acknowledged that encouragement from abroad could result in a quicker decision. The pressure on China to let its currency rise against the US dollar has increased over the last week, after the US and several other members of the G7 called for China to take immediate action on its foreign exchange policy. http://tinyurl.com/7ebzu ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Discover CFTicket - The leading ColdFusion Help Desk and Trouble Ticket application http://www.houseoffusion.com/banners/view.cfm?bannerid=48 Message: http://www.houseoffusion.com/lists.cfm/link=i:5:155520 Archives: http://www.houseoffusion.com/cf_lists/threads.cfm/5 Subscription: http://www.houseoffusion.com/lists.cfm/link=s:5 Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5 Donations & Support: http://www.houseoffusion.com/tiny.cfm/54
