The demand for offshore renminbi was evident mid-November as a Shanghai-Hong Kong stock-trading programme was initiated.
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The euro exchange rate complex has strengthened as we head into the final week of November.
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The British pound (GBP) managed to hold its ground as senior figures from the Bank of England appeared before the Treasury Select Committee.
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Forecasts for the pound dollar and euro pound exchange rates have been revised to reflect a weaker pound sterling profile by the team at Lloyds Bank.
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The pound to dollar exchange rate appears oversold at current levels but all indicators currently point to further falls to the 1.5 GBP/USD level.
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“My long-term macro view remains unchanged, namely that we should be buying GBP and the commodity currencies and selling the Yen, EUR and the USD.” - Sean Lee, Foretell.
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The ability of banks to manipulate the foreign exchange market shows us how little they actually know about themselves.
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