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Goldman Sachs "preferred gauge of FX flows....>

CHINA
CHINA: Goldman Sachs "preferred gauge of FX flows shows an outflow of around
US$9bn in June (vs. US$19bn inflows in May). Seasonal investment income payout
contributed to the outflows in June. Net foreign buying of Chinese equities and
bonds remained strong on the other hand. Overall net FX outflows are composed of
US$12bn in net outflows via outright spot transactions, US$8bn in net inflow via
forward transactions, and US$5bn outflows in cross-border RMB net payments from
onshore to offshore."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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