#Chinese yuan

On the heels of chaos in the FX markets created by a non-currency-manipulating President Trump's comments that the dollar is too strong, Chinese authorities have folded - after 13 days - and resumed liquidity injections through open market operations (70 billion Yuan).   In addition, PBOC

As we observed earlier, China’s currency gained 0.5% in offshore market to 6.8275 vs dollar, earlier surging as high as 6.78, extending its 2-day advance to 2%, the most on record, driven by a direct attack by the PBOC on shorts, whom it crushed overnight when it pushed the overnight offshore Yuan

Last night we were amazed to report that with China starting its trading day, the overnight offshore yuan (CNH) deposit rate had exploded 31.5% points higher to 45%, in a move which while freezing interbank liquidity and unleashing havoc to short-term bank funding needs, had the more direct

Following last night's trial ballon by the PBOC, when as reported overnight the PBOC was studying possible scenarios of yuan exchange rate and capital outflows in 2017 based on models, stress tests and field research, and is preparing contingency plans, the Offshore Yuan has reacted accordingly,

With the topic of Yuan's relentless plunge to all time lows clearly bothering China and threatening to breach the symbolic level of 7 Yuan for the dollar, overnight Beijing decided to do something about it. Only instead of actually implementing much needed, and long overdue economic reforms,