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RTRS Sources Flag State-Back Bank Defence Of Yuan

CNY

RTRS sources have noted that “China's state banks were heavy sellers of dollars on Wednesday, steadying the yuan as it came under pressure in currency trade. One of the people said the selling was "very forceful" to defend USD/CNY around 7.1820 in the onshore spot market.”

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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