Interbank FX trading takes off in China
NEWS
The move by CFETS, a subsidiary of the People's Bank of China, has led to a perception in the market that there will be greater opportunity for currency trading in one of the world's fastest-growing major economies.
John Snow, USTreasury secretary, pointed to the move as a positive development. "As a result of these efforts, China is now ready to introduce a more market-based, flexible exchange regime... and now is the time to do it."
Peter Clarke, Singapore-based head of institutional foreign
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