Daily News | Yuan riding high once more

And here it is – the end of the first global binary options trading week in 2017. We have seen some great, profitable opportunities this week, but there are plenty more for you on the currency market. This Friday, we decided to focus on the Asian markets, starting with the Chinese yuan. From Wednesday to Thursday, the currency rose from $0.1440 to $0.1444. This currency, traded in the offshore market, is set for some great gains today, as it has reached the highest value in two month. The authorities seem to be increasing overnight borrowing costs, in order to put a stop bearish bets on the currency. In fact, they are keen to discourage speculation on the yuan, with experts suggesting they are trying to keep it from weakening to the 7-per-dollar level during the inauguration of US President-elect Donald Trump. Now, let us look at the Japanese yen. In the same timeframe, the currency rose from $0.00851 to $0.00859. It seems that the Bank of Japan is thinking about a small increase in consumer price forecasts at its next policy meeting, due to a rapid decline in the overall status of the yen pushing import prices. However, any update the BOJ is prepared to make will most likely be minor, but we will continue to monitor this story as it develops, so be sure to follow us every day!

Daily News | Choose the perfect account type!

To really improve your standing on the global currency market this Friday, we suggest you take a look at 24option. In our 24option Account Types article, we look at the various options they offer at the very outset. You can choose between four main trading modes: Short Term, High/Low, Boundary and One Touch. These are well-known modes in the binary options world, with the company adding personal flourishes on their unique trading platform. They are also have a license from CySEC, which guarantees security the security of your personal data and funds. For more on the broker, check out the full article!


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Author: Max Rothstein

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