Seeking Alpha

BoE and PBOC agree on clearing of yuan trades in London

  • It's the first such tie-up for the Chinese currency outside of Asia and further internationalizes the yuan and enhances London's status as a Western hub for trading it.
  • In 2009, Beijing made Hong Kong the first offshore trading spot for the yuan and competition among global and regional hubs to be key yuan markets has been fierce ever since.
  • ETFs: CYB, CNY, FXCH
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