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Market rumour of Chinese interest rate hike

Written by Sam Coxhead on November 30th, 2010.      0 comments

5.00 PM (NZT) The days volatility continues as rumours circulate of a Chinese interest rate hike. This sends the Shanghai Index down 3% and sees the growth currencies sold down towards their lows once again. Most of the Australasian session has been spend short covering, seeing the growth currencies rally a touch, but this certainly proved to be short lived. All eyes on the London market as it opens in 3 or so hours time.
 

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