Earlier from SAFE (China’s State Administration of Foreign Exchange):
- China’s FX regulator says commercial banks bought $8.3bn of forex in June vs $3.3bn in May
- More from China’s SAFE – expects foreign investors to keep buying yuan-denominated assets
SAFE with more specific yuan comments now:
-
Yuan flexibility is increasing, market understanding of two-way
fluctuation and ‘risk neutral’ also increased - Fed tightening is
coming to an end, spillover effect is weakening - Will keep yuan
basically stable at balanced levels in a forceful manner - Will prevent sharp
volatilities in the yuan exchange rate - Will comprehensively use policy measures to stabilise expectations
This article was written by Eamonn Sheridan at www.forexlive.com. Source