Economists at Commerzbank expect the Chinse Yuan (CNY) to remain under pressure for the time being. The PBoC may step up its efforts to stem CNY from
The PBoC may step up its efforts to stem CNY from weakening sharply. Last week, the central bank announced strong daily fixings, sold bills in Hong Kong to absorb offshore CNY liquidity, and instructed state-owned banks to step up intervention in both the onshore and offshore markets.
As the CNY moves beyond 7.30 against the Dollar, the PBoC could cut FX reserve requirement ratio to increase onshore Dollar liquidity and/or raise FX forward sales risk reserve ratio to increase the cost of shorting the CNY.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
PBOC sets USD/CNY reference rate at 7.1987 vs. 7.2006 previousPeople’s Bank of China (PBoC) set the USD/CNY central rate at 7.1987 on Monday, versus the previous fix of 7.2006 and market expectations of 7.2893. I
Les mer »
EUR/HUF: An even weaker Forint in 2024The Forint is underperforming once again. Economists at Commerzbank share their EUR/HUF forecast. Forint to regain some ground by the end of the year
Les mer »
Gold has not performed poorly at allUlrich Leuchtmann, Head of FX and Commodity Research at Commerzbank, analyzes the trap of asset analysis in times when the Dollar makes significant sw
Les mer »
Economist group argues for scientific experimentation in environmental policymaking -- ScienceDailyThe economists say more frequent use of up-front experiments would result in more effective environmental policymaking in areas ranging from pollution control to timber harvesting across the world.
Les mer »
EUR/GBP can stay offered in a 0.8500-0.8550 rangeThe Bank of England's trade-weighted Sterling index continues to trade near the highs of the year. Economists at ING analyze GBP outlook. Holding onto
Les mer »
Christie: Trump Canceled Election Fraud Press Conference Because 'He's Scared' Of JailTrump first promised a news conference to reveal proof that the 2020 election in Georgia had been “stolen' from him, but then canceled.
Les mer »