Forex
globalreutersApril 16, 20241 Mins read
Chinese state banks are in the spot market seen selling dollars for CNY
globalreutersApril 16, 20241 Mins read The People’s Bank of China set the CNY weaker today, its weakest in around 6 weeks. The US dollar is, of course, supoer-strong so the Bank is under pressure:
Chart is of offshore yuan, USD/CNH. USD/CNH jumped, to be met with the selling. A subdued fall so far.
This article was written by Eamonn Sheridan at www.forexlive.com.
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