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CNY & CNH Price Action Sees Traders Looking to Get Ahead of Intervention

CHINA
  • Following solid trade in CNY and CNH this morning, Reuters reports that markets are growing more cautious after major state-owned banks were spotted selling USD late on Tuesday.
  • The piece adds that large banks were selling dollars both onshore and offshore, and that it was unusual for state-owned banks to be that active during London or New York trading hours.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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