The onshore USD/CNY breached 6.81 earlier today as selling in Yuan continued. But on suspected intervention by state owned banks, USD/CNY quickly dropped through 6.8 handle and it’s now back at 6.78.

The offshore USD/CNH also followed and dropped through 6.8 too.

- advertisement -

The news and the development helped lifted the Shanghai SSE composite back into positive territory. It’s now trading above 2% and is back above 2800. It’s also helped lifted Hong Kong HSI by more than 400 pts back above 28200.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.