November 07, 2024 at 01:47AM
They did the same yesterday.
They won’t stop a rampant US dollar, but they’ll try to slow it.
USD/CNH update:
Before you harangue me, yes I am aware that the offshore yuan, CNH, is different to the onshore yuan, CNY. Feel free to post a USD/CNY chart in the comments.
This article was written by Eamonn Sheridan at www.forexlive.com.
China state banks seen selling USD/CNY – intervention to slow yuan drop