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RTRS Flag State Bank Sales OF USD/CNY Around 7.25

CNY

RTRS headlines point to Chinese state banks selling USD vs. CNY, per their sources. This comes after similar headlines Tuesday and a more aggressive lean against yuan weakness in the PBOC's daily mid-point fixing earlier today, with officials seemingly wary of the velocity of the recent move in the yuan. The sources indicated that the state banks were active around the CNY7.2500 level in USD/CNY, which probably limited the brief forays above that level during Thursday’s session (CNY7.2470 last).

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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