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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.

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