Banks assess boost from Chinese currency trading hub

Banks assess boost from Chinese currency trading hub

Banks assess boost from Chinese currency trading hub Canadian banks are assessing how they will benefit from China’s decision at the weekend to appoint Canada as a trading hub for the Yuan. With the currency now second only to the US dollar for international trade finance there is widespread competition to be appointed a trading hub. The currency is traded day and night using a network of trading hubs across time zones; Canada will be the first in the Americas. Read the full story.