Canada’s banks considering bid to become trading hub for China’s yuan
This is great news for Canada, I read a prediction years ago that the RMB will be a mainstream currency and this is happening all around the world, I recall reading a similar thing about the UK and how they're inviting the Chinese Banks (something they forbade even recently). I guess it's a sign of changing economic and political times.
This has me thinking that one of the best long-term Forex plays could be the RMB, it's only been appreciating fairly well for years now (at least on the Canadian dollar, investing in it years ago or even a few years ago would have produced a reasonable return).
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