Daily News: the USD has plunged
On Monday, the US dollar index plunged from 96.40 to 95.70.
Chinese policymakers are bullish on economy
In China, policymakers are actually pushing a bullish message on the world's number two economy after a sturdy first quarter, pointing to a slowdown in capital outflows as well as a stable national currency after the previous year’s selloff stoked fears of instability.
Speaking at a G20 summit gathering of the world's major economies in Washington the previous week, finance minister Xiao Jie told that a surging number of positive signs were noticed in the Chinese economy, as follows from the first quarter GDP report.
China’s quite confident of meeting the government's 6.5% GDP surge objective this year, as Xiao told in a notice issued on Saturday on the Ministry of Finance's website.
Aside from that, People's Bank of China adviser Sheng Songcheng told that the surging economy has been matched by a stable Yuan, with evident signs that capital is starting to get back to the Asian country.
Sheng repeated that interest rates appear to be on an uptrend, thus underscoring Beijing's move to a tighter policy stance in order to temper rampant credit surge and put the national economy on an even keel.
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