HomeLive CommentsChina cuts FX reserve ratio by 100bps to stabilize Yuan

China cuts FX reserve ratio by 100bps to stabilize Yuan

ActionForex
By ActionForex

China’s PBOC announce to cut foreign exchange reserve ratio of financial institutions by 100 basis point, from 9.00% to 8.00%. The move is to improve the ability of financial institutions to use foreign exchange funds, and thus help stabilize Yuan from recent free fall.

USD/CNH retreats mildly after the release. But after all, break of 6.5214 support is needed to be the first sign of short term topping. Otherwise, USD/CNH’s recent rally is still expected to continue. That is, Yuan’s decline is not finished yet.

Start Trading
Start Trading
Start Trading
Start Trading
ActionForex
ActionForex
ActionForex.com was set up back in 2004 with the aim to provide insightful analysis to forex traders, serving the trading community for two decades. We started providing only a daily and a mid-day report, now known as Action Insights. Gradually, we added a lot more in-house contents to the site. Technical Outlook section was expanded to cover more pairs. In addition to that, Top Movers, Heat Map, Pivot Point Charts and Pivot Meters, Action Bias and Volatility Charts, are tools used by traders from all over the world.

Latest Analysis

Load more

Learn Forex Trading