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Free AccessTrending Top 5
December 18, 2023 02:56 GMT
MNI: PBOC Drains Net CNY41 Bln Via OMO Mon; Rates Unchanged
December 18, 2023 02:48 GMT
MNI: China CFETS Yuan Index Down 0.79% In Week of Dec 15
December 18, 2023 02:44 GMT
MNI: PBOC Yuan Parity Lower At 7.0933 Monday; -1.83% Y/Y
December 18, 2023 01:49 GMT
MNI China Press Digest Dec 18: Special Bond, Yuan Bond, Payment
Market News Topics
January 16, 2018 04:49 GMT
MNI CHINA MARKETS: Yuan Strengthens; Rates Rise; Stocks Gain
MNI (Beijing)
BEIJING (MNI) - The yuan rose to 6.4294 against the U.S. dollar from
Monday's closing at 6.4417, following a higher fixing by PBOC today.
The PBOC set central parity rate at 6.4372 vs the dollar, up from Monday's
6.4574. Today's fixing was the highest since Dec 2015.
***COMMENT: MNI market sources said the sharp rally of the yuan isn't
sustainable; traders that are long on the yuan are growing weary; U.S. dollar
holders are postponing settlements against the yuan on view that the dollar will
rebound.
***POV: Dollar-yuan volatility to rise as PBOC seeks to liberalize the exchange
rate; traders are bullish on the yuan in the near term given China's higher
returns vs the U.S. assets and resilient growth data.
Rates fell in the interbank market after the PBOC injected net CNY270
billion by open-market operation.
- 7-day repo average last at 2.8603%, lower than 2.8644% yesterday
- Overnight repo average 2.7503%, lower than 2.8021% yesterday.
Yield on 10-year China government bonds last traded 3.9500%, down from
3.9600% close yesterday: Wind data
Shares rose in Shanghai, led by property companies.
- Shanghai Composite Index finished morning trading at 3,420.80, up 0.30%
- Hang Seng Index gained 1.11% to 30,686.62.
--MNI Beijing Bureau; +86 (10) 8532 5998; email: marissa.wang@marketnews.com
--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com
[TOPICS: M$A$$$,M$Q$$$,M$$FI$,MN$FI$,MN$FX$]
To read the full story
Close
Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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