PBoC cools yuan appreciation by raising FX reserve requirement ratio
FROM THE WIRE · FXSTREET.COM
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…
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: neutralAn FX policy move can affect CNY and flows across Asian markets.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01The PBoC raised the FX reserve requirement ratio to slow CNY gains.
- 02The CNY had a 13-session winning streak.
- 03USD/CNY and USD/CNH bounced to 6.67 after the announcement.