Free Trial

USD/CNH Unmoved On PBoC Inaction

CNH

USD/CNH is not moving on the back of the previously outlined PBoC inaction when it comes to the interest rate applied to use the Bank’s 1-Year MLF, which was accompanied by a rollover of maturing MLF funds (median expectations looked for a 10bp rate cut and CNY100bn net injection). The cross deals in the lower half of of the CNH6.39 handle. Focus will now move to after-market activity, with many looking for a RRR cut from the PBoC, given the recent policymaker rhetoric surrounding the matter.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

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.