Adjusted to 20%

From the Chinese Central Bank:

  • China to adjust forward foreign exchange risk reserve requirement ratio to 20%
  • Current forward foreign exchange risk reserve requirement ratio is 0%
  • New forward foreign exchange risk reserve requirement ratio effective from August 6
  • It will take counter-cyclical measures to keep forex markets stable based on market conditions
  • It will keep the yuan basically stable
  • USD falls. Majors to session highs

Chart musings:

  • But the DXY is at resistance remember.
  • Could exaggerate the reaction/