China's banking regulator out with a statement 22 June
- will keep borrowing costs at reasonable levels
- NPL ratio for all banks was at 1.99% at end-May, down -0.16% yy
- small and medium sized banks need to strengthen liquidity, interest rate management
- regulations and supervisory measures on banks have achieved positive results
Meanwhile some shadow boxing still going on with USDJPY pinned around 111.00 , EURUSD and GBPUSD both drifting lower again as we continue to range-trade.
