LONDON -- World stock markets rallied Monday on China's decision to allow its currency to appreciate against the dollar, a move that will allow it to keep interest rates low and will help rebalance growth in the world economy.The loosening of the yuan's two-year-old peg to the dollar caused the dollar to slump to 6.8016 yuan from 6.8272 yuan on Friday, though a limit on the daily trading range is expected to prevent much larger movements.
Global Stocks Up on China's Yuan Decision
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.