"March 22 (Bloomberg) -- People’s Bank of China Governor Zhou Xiaochuan said his government and the U.S. may engage in bilateral discussions about currency values, adding that too much political “noise” isn’t “helpful.”" [Bloomberg].
"Zhou, head of the People's Bank of China, said while U.S. policy makers are under pressure to lower unemployment, China also faces a "tremendous task to create jobs." [Reuters]"
Like Jim Rogers said in the recent BNN interview: "(The Chinese) know that they can never be a great international economy unless their currency floats. You can't have a blocked currency and be a major player on the world stage, they know that" (Rogers interview, usd/cny chart). So is China nearing a currency move? Someone thinks so (unless it was a f--- up!). Look at the crazy move in $CNY today on higher than average volume. I don't see any options on it.
$CNY / Market Vectors - Renminibi/USD ETN (courtesy of stockcharts.com)
$CNY - 1 Minute Chart (courtesy of freestockcharts.com)