The Chinese Yuan continues to be one of the main victims of the ongoing health crisis caused by the coronavirus. The off-shore Chinese currency is slightly down against the dollar during early Friday trading, as the number of infected and fatalities attributed to the virus continues to increase.
It is worth noting how the Chinese currency recovered some of the lost ground yesterday, having at some point dropped below 7 Yuan to the Dollar for the first time since December. This followed the announcement of added measures to contain the virus although the WHO, who declared the situation to be a global health emergency, stopped short of recommending travel or trade restrictions. The relative stability of the yuan, comparatively to the scale of the health crisis in China, is therefore an indication that the markets believe the coronavirus will be contained and many of the restrictions currently in place will soon be eased.
Has undertaken a number of senior roles in his current employer including running the international desk, responsible for managing sales, customer services and marketing functions for a number of territories, as well as acting as a regular public speaker at events and contributor to TV and other media through interviews and market analysis. Since November 2016 he has been the Senior Executive Officer (SEO) of ActivTrades Dubai branch, having overall management responsibility of the branch. Prior to joining ActivTrades Ricardo worked in the IT and Financial industries.
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© 2019 High Leverage FX - All Rights Reserved.