What to expect in CNY? – BTMU

By FXStreet FXStreet (Guatemala) – Analysts at Bank of Tokyo Mitsubishi explained that stabilization still seems the focus of policy and as we near the Chinese New Year holiday break trading may consolidate.

Key Quotes:

“With trading calmer it may not be necessary for PBOC to generate more CNH rates shock and awe despite the new RRR deadline Monday.”

“While yen and euro may gyrate to the latest monetary policy prognostications we think CNY/CNH are their own story right now. The GDP slight – ve miss probably means SOE profits will not have finished the year well.”
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Source:: FX Street