Bank of Korea Holds Interest Rates Steady as Weak Won Limits Policy Flexibility 
Japan’s Rising Inflation Strengthens Case for a Near-Term BOJ Rate Hike 
U.S. Stocks Slip as Investors Await Fed Rate Decision and Monitor Market Shifts 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Brazil Central Bank Plans $2 Billion Dollar Auctions to Support FX Liquidity 
BOJ’s Noguchi Calls for Cautious, Gradual Interest Rate Hikes to Sustain Inflation Goals 
U.S. May Withhold $30.4 Million From Minnesota Over Improper Commercial Driver Licenses 
The Chinese central bank, PBOC, has agreed to establish direct trading between its yuan currency and seven foreign currencies. In an announcement made on its website earlier today, the central bank noted that China will start direct trading between the Yuan and seven more currencies starting Monday December 12th.
The seven foreign currencies against which yuan direct trading will be established include the Norwegian krone, Mexican peso, Polish zolty, Swedish krone, Denmark krone, Hungarian forint and Turkish lira will begin on Dec. 12, the China Foreign Exchange Trade System (CFETS) said in a statement on its website.
Meanwhile, the CFETS, the interbank trading and foreign exchange division of PBOC, said that the purpose of commencement of direct trading between the Yuan and other currencies is to facilitate bilateral trade and investment with these countries and lower exchange rate costs.
