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PBoC to change Zhou Xiaochuan by next month

According to official Chinese news agency Xinhua, current PBoC chief Zhou Xiaochuan, in charge since year 2002, will step down next month, following previous comments coming from the ruling Communist Party made in Nov last year.

The new central bank head has to be named by China's PM and endorsed by the National People's Congress, which will be held this coming March, thus, presuming he will be endorsed by then, since the PBoC news office hasn't stated yet when Zhou will exactly step down, not responding to Bloomberg News faxed questions about it, Bloomberg reported.

“Potential successors include Shang Fulin, the nation’s banking regulator, and Guo Shuqing, head of the securities regulator, David Loevinger, former senior coordinator for China affairs at the U.S. Treasury Department,” Bloomberg suggests.

Forex: EUR/USD dealing with fresh lows around 1.35

EUR/USD is currently dealing with fresh 3-day lows, last at 1.3498, following a double intraday low at 1.3490, previous roof of the channel from Dec 19 highs to Jan 14 highs, broken higher past Tuesday Jan 29. Moments before key risk event for the session in the form of RBA meeting, local share markets are all showing loses, following the -1.15% in SP500 at NY close, and big loses in Europe, with Spanish Ibex35 down by -3.61%.
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