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Hope the US Treasury is watching, and that it still cares about currency manipulation ...
23 hours ago
🛑🛑🛑 CHINA STATE-OWNED BANKS SEEN BUYING DOLLARS - SOURCES
🛑🛑🛑 CHINA STATE-OWNED BANKS TWEAK TRADING STYLE TO BLUNT YUAN GAINS - SOURCES
And for the sake of completeness, the dynamics around China's currency tend to be predictable. Appreciation creates expectations of further appreciation, and exporters convert fx into CNY. That generates further appreciation pressure -- which the PBOC or the SCBs blunt
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