Ticker	Volume	Price	Price Delta
DJIA	15,307.20	-80.41	-0.52%
S&P 500	1,655.35	-13.81	-0.83%
Nasdaq	3,463.30	-38.82	-1.11%

Ticker

Volume

Price

Price Delta

DJIA

15,307.20

-80.41

-0.52%

S&P 500

1,655.35

-13.81

-0.83%

Nasdaq

3,463.30

-38.82

-1.11%

Ticker	Volume	Price	Price Delta
STOXX 50	2,835.01	+13.36	0.47%
FTSE 100	6,840.27	+36.40	0.53%
DAX	8,530.89	+58.69	0.69%

Ticker

Volume

Price

Price Delta

STOXX 50

2,835.01

+13.36

0.47%

FTSE 100

6,840.27

+36.40

0.53%

DAX

8,530.89

+58.69

0.69%

Ticker	Volume	Price	Price Delta
Nikkei	14,484.00	-1,143.28	-7.32%
Hang Seng	22,712.60	-548.47	-2.36%
S&P/ASX 200	5,062.40	-102.97	-1.99%

Ticker

Volume

Price

Price Delta

Nikkei

14,484.00

-1,143.28

-7.32%

Hang Seng

22,712.60

-548.47

-2.36%

S&P/ASX 200

5,062.40

-102.97

-1.99%

ANZ’s Liu Li-Gang Says Yuan Band Boosts RMB Volatility

By Bloomberg News - 2012-04-14T04:19:18Z

Liu Li-Gang, chief Greater China economist at Australia & New Zealand Banking Group Ltd. (ANZ) in Hong Kong, comments on the widening of the yuan’s trading band by the People’s Bank of China:

“This move is consistent with its recent measures to fast open China’s capital account. As China experiences two-way capital flows, the renminbi’s volatility will naturally increase. Allowing a flexible exchange rate will enhance PBOC’s monetary policy independence and make its policy more effective.

‘‘Now Chinese residents, firms, and FIs will have to live with a more volatile renminbi exchange rate and start to use hedging instruments. As such, Chinese commercial banks will have a new source of revenue. Indeed, this move is an important step to help improve the onshore renminbi market efficiency.”

To contact the Bloomberg News staff on this story: Zheng Lifei in Beijing at lzheng32@bloomberg.net

To contact the editor responsible for this story: Paul Panckhurst at ppanckhurst@bloomberg.net

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