Whilst Australia’s AxiTrader has taken the leverage on USD/CHF down from 1:100 to 1:50, FxPro has shown its interest in ensuring that its clients in the all-important Asia-Pacific region are provided with the most suitable means for their trading by taking the opposite action and increasing leverage on US dollar and offshore Chinese yuan (USD/CNH) to 1:100.
The offshore yuan, issued via Hong Kong, has until recently provided access to China’s markets for traders from free market economies, however with China having made several sudden inroads into bringing its sovereign currency within the realms of overseas traders, most notably the establishment of a renminbi trading hub in Sydney this month, it is clear that FX companies are keen to leverage the fortunes that this may bring.
Most certainly, all eyes are on China and surrounding Asia-Pacific nations from which over the last few years many firms have experienced substantial volume. With the trade agreements in place between China, Russia and now Australia, it is likely that what has been achieved so far is merely the tip of an iceberg.