ICAP glitch adds to yuan investor jitters
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Hong Kong
YUAN investors - already nervous about US President-elect Donald Trump's focus on China's currency policy - got a shock on Tuesday when ICAP Plc data showed the currency sinking to 7.5 per US dollar.
The decline, which traders said was an error, showed up on both Google and Xe.com, causing a stir on Twitter. ICAP's prices had the dollar-yuan at about 7.5 on Tuesday even before the spot market started trading in Shanghai. Benny Luk, North Asia regional chief executive officer at ICAP (Hong Kong) Ltd, said that he couldn't confirm the price quote and that the firm is looking into it.
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