The Chinese central bank has tightened policy again with commercial bank reserve requirements increased by a further 50 basis points, although the move does not come into effect until August 15th The move is not of major importance in isolation, but continues the trend of a tighter Chinese monetary policy and will also maintain the threat of tighter global lending standards. The net impact will be to increase pressure for a reduction in carry trades, especially with reports of margin requirements being increased. The next key focus will be Wall Street's performance after a probable opening bounce higher on Monday. A ... (full story)