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
- 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 (08:16)
- The USD-CNY has an allowed trading range of ±1% relative to fix.
03 Jan 2013 - 08:15
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