Yuan-Euro Direct Trading Begins in China Today

The video covers FX headlines for September 30th, focusing on China's direct trading with the euro, which aims to lower transaction costs and boost currency usage. The euro becomes the sixth major currency to trade directly with the yuan. The Kiwi dollar has seen a sharp decline, reaching a 14-month low, which is seen as beneficial by New Zealand's Finance Minister. Despite ongoing protests, the Hong Kong dollar remains stable, with volatility much lower than during the global financial crisis.

What is one of the expected benefits of direct trading between China's currency and the euro?

• Decreased currency usage

• Higher inflation rates

• Increased import tariffs

• Lower transaction costs

Which currency became the sixth major one to be directly exchangeable with the yuan?

• Euro

• British Pound

• Canadian Dollar

• Japanese Yen

What was the reaction of New Zealand's Finance Minister to the Kiwi dollar's decline?

• He predicted a further decline

• He was concerned about inflation

• He suggested immediate intervention

• He welcomed it as beneficial for the central bank

How did the ongoing protests in Hong Kong affect the Hong Kong dollar?

• It had a muted impact

• It caused a significant drop

• It resulted in a new financial crisis

• It led to a currency surge

Compared to the global financial crisis, how is the current volatility of the Hong Kong dollar described?

• Unchanged

• A fraction of previous levels

• Much higher

• Slightly higher