Wednesday, March 20, 2013

Euro Falls on Continued Cyprus Worries, Finally China Eases Renminbi (CNY) Investment Rules More Internationalised

Global stocks Markets steady but remain wary, Stocks recover some poise after EU signals flexibility as Cyprus tries to renegotiate its bailout terms, but contagion fears linger

Woww Sainsbury tops wary FTSE 100, Supermarket group beats forecasts for same-store sales and lifts online sales numbers while traders sell resource stocks as wider risk appetite wanes

Eurozone single currency, Euro falls on continued Cyprus worries, Single currency dips against dollar and UK pound ahead of possible parliamentary vote in Cyprus later on Tuesday on plans to tax small depositors

Meanwhile, China eases renminbi investment rules, Beijing move levels the playing field for overseas and Chinese asset managers as well as making the currency more internationalised

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