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USD/CNH Dips as PBOC Warn Against One-Way Bets

CHINA
  • Rate slipping lower as markets respond to a warning from the PBoC, who flag that regulators see keeping the FX market stable as a priority, warning against one-way bets in the currency. The PBoC have also asked for banks to protect the authority of the CNY fix.
  • USD/CNH drifting at typing, slipping to around 7.24 from 7.2674 this morning - a record high for the pair.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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