News Headline Summary

According to Commerzbank, there is widespread speculation that the PBoC will widen the trading band to better allow the market to clear

Says:
- We think this will be tricky for the PBoC however, since a widened band could simply encourage appreciation pressures, added the Commerzbank analyst, expecting CNY to continue, particularly on USD-CNY NDFs or USD-CNH forwards.

Analysis details (09:16)

- The USD-CNY has an allowed trading range of ±1% relative to fix.

03 Jan 2013 - 09:15 - Forex - Source: Commerzbank

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