China’s yuan eases after reserve ratio cut; Fed decision in focus

From brecorder.com

China’s yuan eased against the dollar on Monday, pressured by prospects of higher liquidity after the Chinese central bank surprised dealers by lowering the amount of cash banks must set aside as reserves. As in markets elsewhere, the dominant factor was anxiety over whether Switzerland and major central banks will succeed in averting a potential global banking crisis, and uncertainty over what the Federal Reserve will do with interest rates when its policy meeting concludes on March 22. Traders still expect a quarter point hike from the Fed, even though the global banking sector remains susceptible to contagion ... (full story)