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Forex News Recap: China Tightens Bank Lending, Market Gets Jitters, Bernanke Defends QE2
Written by article default Saturday, 20 November 2010 08:17
Today’s session was light on fundamentals, though a move by China’s central bank to raise bank reserve requirements sent some shudders through equity and commodity markets boosting risk aversion. That helped the USD and JPY to pare some of their losses to higher yielders and commodity currencies from yesterday’s strong rally. In a speech in Europe, Fed Chairmen Bernanke defended QE2 while taking some shots at China’s currency regime.