Intraday Market Thoughts

China struggles to support CNY

by Ashraf Laidi
Dec 10, 2014 17:39

The PBOC is increasingly resisting traders' weakening of the Chinese yuan, by announcing higher rate in its daily central reference rate. But as Chinese data continue to weaken across the board, FX traders have no choice but to sell the yuan (pushing up the USDCNY rate). We should see this chart more regularly next year. Full charts & analysis.

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China struggles to support CNY - Cny Vs Ref Chart Dec 10 (Chart 1)


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