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Japan and Europe reached a free trade agreement

Author : Source : Date :2017-12-15 13:57:09 Popularity :3 

It is reported that the EU and Japan have completed negotiations on a free trade agreement that will create the world's largest open economy zone. Reportedly, this move marks the two sides to abandon the U.S. trade protectionist stance of President Trump. In addition, the agreement will exempt the European Union from levying a 10% duty on Japanese cars and a 3% tariff on auto parts. Japan will exempt 30% of the tariffs imposed on the EU cheese, 15% tariffs on red wine, allowing the EU to increase beef and pork exports, and allowing the EU to conduct large-scale public bidding in Japan.

Foreign Secretary Comments: Free and open is the future.

RMB onshore today depreciates against the U.S. dollar, euro and yen

Today, the RMB depreciated slightly against the U.S. dollar. The central parity rate of RMB against the U.S. dollar was reported at 6.6162, down 10 basis points from 6.6152 yesterday.

Today, the exchange rate of RMB against the euro slightly devalued, the central parity of RMB against the euro was quoted at 7.7914, down 44 basis points from 7.7870 yesterday.

Today, the RMB exchange rate slightly depreciated against 100 yen, the central parity of RMB against 100 yen was reported 5.8267, depreciating by 7 basis points from 5.8260 yesterday.

Offshore RMB depreciates against the U.S. dollar, euro and yen today

As of today, the exchange rate of the offshore RMB against the U.S. dollar has slightly depreciated. At the close of the day, the highest exchange rate of the offshore RMB against the U.S. dollar stood at 6.6274, a devaluation of 51 basis points over the closing price of 6.6223 on the previous day.

Today, the offshore RMB against the euro slightly devalued, as of receipt, the maximum offshore exchange rate of RMB against the euro 7.8010, compared with the previous day's closing price of 7.7921, a devaluation of 89 basis points.

Today, the offshore RMB depreciates slightly against the 100-yen exchange rate. As of the close, the offshore RMB against the 100-yen exchange rate is trading at 5.8400, a 100-bp depreciation over the previous trading day's closing price of 5.8300.


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