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CHINA: Quiet central bank intervention restrains RMB appreciation

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The People's Bank of China appears to be quietly intervening through proxy banks to resist upward pressure on the renminbi amid broad US dollar weakness.
The scale of central bank intervention appears modest; rather than actively weakening the RMB, the PBoC is "leaning a...

 

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CHINA: Quiet central bank intervention restrains RMB appreciation

The People’s Bank of China appears to be quietly intervening through proxy banks to resist upward pressure on the renminbi amid broad US dollar