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Home
> Central Banks
> Yuan finds buyers - state banks intervention likely, selling USD/CNH
Central Banks
CNY

Yuan finds buyers - state banks intervention likely, selling USD/CNH

Eamonn Sheridan
Eamonn Sheridan
Friday, 19/05/2023 | 02:52 GMT
19/05/2023 | 02:52 GMT
  • 0

USD/CNH has tumbled from earlier highs, with a likely intervention from state banks to support the yuan.

Thats not confirmed but to does seem very likely.

usdcnh intervention yuan china pboc 19 May 2023

Earlier today we had the PBOC confirm the reference rate will above 7:

PBOC sets USD/ CNY reference rate for today at 7.0356 (vs. estimate at 7.0392)

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