Markets News Monday: Chinese renminbi futures surge; Oil rig worker tell BBC that BP was alerted to Gulf leak before explosion
Jun 21st, 2010 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Markets news on stocks, currencies and commodities; China's currency, the renminbi (yuan is Mandarin for unit; renminbi is Mandarin for peoples' currency) surged in the futures market on Monday after China signalled at the weekend that it would break the currency’s two-year peg to the dollar. Meanwhile, a worker on board the Deepwater Horizon rig, has told the BBC that he identified a leak in the oil rig's safety equipment weeks before the explosion on April 20th which resulted in the catastrophic leak in the Gulf of Mexico.