China promised more stimulus, PBOC strengthened CNY – yuan rising in early China trade

The news out of China on Monday was of more promised support for the economy:

In addition the People’s Bank of China once again set the CNY much higher than expected:

Offshore yuan has been boosted by the combined impacts:

  • USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.
  • CNH is the offshore yuan. USD /CNH has no restrictions on its trading range.

This article was written by Eamonn Sheridan at Source