Thursday , 7 November 2024
Home Forex China state banks seen selling USD/CNY – intervention to slow yuan drop
Forex

China state banks seen selling USD/CNY – intervention to slow yuan drop

They did the same yesterday.

They won’t stop a rampant US dollar, but they’ll try to slow it.

USD/CNH update:

Before you harangue me, yes I am aware that the offshore yuan, CNH, is different to the onshore yuan, CNY. Feel free to post a USD/CNY chart in the comments.

This article was written by Eamonn Sheridan at www.forexlive.com.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

There is a deluge of European Central Bank speakers Thursday – Lane (3 spots!), Schnabel

Lane and Schnabel the most likely to spin out some market-relevant comments....

AUD and NZD continue to retrace yesterday’s losses

AUD and Kiwi$ were hit on the surge of USD strength on...

China October dollar denominated exports +12.7% y/y & imports -2.3%

The slide for imports is not encouraging. The export pipeline looks like...

China’s Xi Jinping congratulates Trump on election victory

China's Xi Jinping congratulates Trump on election victoryhopes that the two sides...