FXStreet·45 event signal
Chinese Yuan: PBoC cools appreciation trend – Commerzbank
finance
Commerzbank’s Charlie Lay and Dr. Henry Hao highlight that the People’s Bank of China raised the FX reserve requirement ratio to slow rapid CNY gains after a 13-session winning streak. They stress the move is counter-cyclical, aimed at preserving two-way flexibility rather than reversing the appreciation trend, and note USD/CNY and USD/CNH both bounced to 6.67 on the announcement.
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Source: FreeNewsAPIRead at FXStreet
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