CNY (RMB) 02 (Feb 16 - Dec 24)

[behappyalways]

Yuan fix vs estimate blows out to a new record of 1,111 pips
https://twitter.com/zerohedge/status/16 ... 0209281396

[behappyalways]

A Panicking China Triggers Biggest Offshore Liquidity Squeeze Since 2018 To Crush Yuan Shorts
https://www.zerohedge.com/markets/panic ... uan-shorts

[behappyalways]

China Cuts FX Reserve Ratio To 4%, Unlocking $19BN, In Most "Visible" Step Yet To Prop Up Slumping Yuan
https://www.zerohedge.com/markets/most- ... cking-19bn


Exclusive-Chinese exporters using currency swaps to retain dollars as yuan sags
https://www.channelnewsasia.com/busines ... um=twitter

[winston]

Yuan at lowest since 2007, pessimism grows

The onshore yuan dropped to a nearly 16-year low against the US dollar yesterday, as pessimism grew toward China's economy and financial markets.

Foreign currency reserves and exports also dropped.

"The yuan will likely remain under significant pressure before economic growth finds a floor and the PBOC will continue to defend the yuan". "However, the PBOC's objective is likely to slow yuan depreciation, rather than defending an absolute level."

Source: Bloomberg

https://www.thestandard.com.hk/section- ... mism-grows

[behappyalways]

China tells brokerages to reduce proprietary FX trading amid yuan weakness - sources
https://finance.yahoo.com/news/china-te ... 28574.html

[behappyalways]

*CHINA STATE BANKS SELL DOLLARS ONSHORE, BOOSTING YUAN: TRADERS
https://twitter.com/zerohedge/status/17 ... 3614795157

[behappyalways]

China Exports Collapse, Prompting Yuan Devaluation Fears
https://www.zerohedge.com/markets/china ... tion-fears

[behappyalways]

Investors, to bet on #yuan's depreciation, typically short the currency by borrowing yuan in HK, selling them for dollars, and later buying them back at more favorable rate.
Higher Hibor means higher borrowing cost
https://twitter.com/CathyYuanZhang/stat ... 0605905322