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Yuan finds buyers - state banks intervention likely, selling USD/CNH
USD/CNH has tumbled from earlier highs, with a likely intervention from state banks to support the yuan. Thats not confirmed but to does seem very likely. Earlier today we had the PBOC confirm the reference rate will above 7:PBOC sets USD/ CNY reference rate for today at 7.0356 (vs. estimate at 7.0392) This article was written by Eamonn Sheridan at www.forexlive.com...
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Posted: May 19 2023, 02:52
Author Name: forexlive
Views: 081562