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> Forex Alliance: The Chinese Yuan set to appreciate over 100% once freely floated – Richard Olsen, co-founder OANDA

Forex Alliance: The Chinese Yuan set to appreciate over 100% once freely floated – Richard Olsen, co-founder OANDA

Thursday, 30/06/2011 | 13:24 GMT by Michael Greenberg
Forex Alliance: The Chinese Yuan set to appreciate over 100% once freely floated – Richard Olsen, co-founder OANDA

This week I had a chance to interview Richard Olsen, co-founder of OANDA, founder of Olsen Ltd and Olsen Financial Technologies. Richard is now focusing on high-frequency trading, financial software and research. I wanted to focus my interview with Richard on the recent developments in China – mainly the creation of an offshore market for Yuan (renminbi) trading.

Q. Do you think the government should allow the currency to appreciate in order to alleviate inflation?

A. Yes, they should, but there are major risks. The medium-term appreciation, I believe, is not going to be 4-5% but rather more than 100%. Because of the huge upside, it is big step to introduce fee floating that can have serious economic and political consequences. This process should happen naturally and be gradual, not in a day.

Rest of the interview can be found on Forex Alliance.

Grab your latest copy of the Forex Magnates Retail Forex Industry Report for Q1 2011.

This week I had a chance to interview Richard Olsen, co-founder of OANDA, founder of Olsen Ltd and Olsen Financial Technologies. Richard is now focusing on high-frequency trading, financial software and research. I wanted to focus my interview with Richard on the recent developments in China – mainly the creation of an offshore market for Yuan (renminbi) trading.

Q. Do you think the government should allow the currency to appreciate in order to alleviate inflation?

A. Yes, they should, but there are major risks. The medium-term appreciation, I believe, is not going to be 4-5% but rather more than 100%. Because of the huge upside, it is big step to introduce fee floating that can have serious economic and political consequences. This process should happen naturally and be gradual, not in a day.

Rest of the interview can be found on Forex Alliance.

Grab your latest copy of the Forex Magnates Retail Forex Industry Report for Q1 2011.

Topics
china
forex
traders
trading
yuan
fx
oanda
About the Author: Michael Greenberg
Michael Greenberg
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About the Author: Michael Greenberg
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