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ICYMI - further intervention from China to support the yuan overnight

ICYMI - further intervention from China to support the yuan overnight
USD/CNH is off its Thursday highs with Chinese State banks intervening to sell USD/CNY.I gave a heads up to the intervention yesterday:Further Chinese intervention to prop up the yuan: State banks USD/CNY sellersAnd Justin followed up with more later in the session:China reportedly told state banks to escalate yuan intervention this weekThere was further selling by State banks during London time, but the impact has been small only:Yesterday the People's Bank of China signalled very clearly it'd... Read More
Posted: Aug 17 2023, 21:29
Author Name: forexlive
Views: 102039

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