“China has now launched yet another feeler to see what the apetite toward its currency is, this time in the heart of the Eurozone: Paris. According to China Daily, as reported by Reuters, ‘France intends to set up a currency swap line with China to make Paris a major offshore yuan trading hub in Europe, competing against London.’ As a reminder the BOE and the PBOC announced a currency swap line back in February, in effect linking up the CNY to the GBP. Now it is the EUR’s turn.”
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