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Major state-owned Chinese banks caught selling dollars to support yuan: sources

- Juli 03, 2018

Major state-owned Chinese banks were seen swapping yuan for dollars in forwards and immediately selling them into the spot market to prop up the Chinese currency, four traders said. The dollar selling lifted the onshore spot yuan CNY=CFXS to firmer than the key 6.7 per dollar. In early trade on Tues...

The post Major state-owned Chinese banks caught selling dollars to support yuan: sources appeared first on Raw Story.

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