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Reports Of State Bank Support Via Swaps

CNH

MNI (London) - RTRS sources suggest that "China's major state-owned banks were acquiring U.S. dollars in the offshore foreign exchange market before selling them in the spot market to stabilise the Chinese currency in recent sessions."

This is seen as a tactic to limit the pace of the decline in the yuan.

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MNI (London) - RTRS sources suggest that "China's major state-owned banks were acquiring U.S. dollars in the offshore foreign exchange market before selling them in the spot market to stabilise the Chinese currency in recent sessions."

This is seen as a tactic to limit the pace of the decline in the yuan.

Keep reading...Show less