Chinese state-owned banks were seen selling dollars at the 6.80 yuan per dollar level in the onshore foreign exchange market on Tuesday.
The dollar recorded its best day in four months on Monday, starting the new quarter on a strong note.
SHANGHAI, July 3- In the month since China changed how it calculates the yuan's guidance rate, market participants have discovered that this factor is lopsided and operates mainly to thwart yuan depreciation. The undisclosed factor put in place by the People's Bank of China to reduce price swings has been at play only on days when the yuan's previous session...
Despite the large uptake expected, Becky Liu from Standard Chartered Bank says the bond link is unlikely to offset the outflows from China anytime soon.
The Caixin China manufacturing PMI for June beat expectations, offering another signal the mainland's economy is defying slowdown expectations.
NEW YORK, June 30- The U.S. dollar's share of global foreign exchange reserves edged lower in the first three months of the year, compared with the previous quarter, but the greenback remains the largest reserve currency held by global central banks, according to IMF data released on Friday. The amount of reserves held in dollars rose to $5.71 trillion even as the...
NEW YORK, June 30- The U.S. dollar's share of currency reserves reported to the International Monetary Fund edged lower in the first quarter, while the Chinese yuan's share was steady, data released on Friday showed. Reserves held in U.S. dollars rose to a record $5.71 trillion, or roughly 64.5 percent of allocated reserves, in the first three months of the year, from...
The dollar is on course for its worst quarter in seven years on Friday, recovering only marginally against major peers after a week of hawkish central bank jawboning.
BEIJING, June 30- China's central bank said on Friday that its holdings of short foreign currency positions in forwards and futures versus the yuan shrank in May. The People's Bank of China held $6.044 billion of such positions with commercial banks as of the end of May, down from $11.544 billion one month earlier, official data showed. Friday's data also showed...
China opening up its fixed income market to foreign investors will eventually unleash “massive” demand, HKEx CEO Charles Li said on Friday.
China's official manufacturing PMI for June rose to 51.7, accelerating from 51.0 in May and beating a Reuters poll forecast for 51.0.
The dollar downdraft persists as non-U.S. central banks are seen as hawkish.
The euro fell from a one-year high after the European Central Bank said markets misjudged ECB President Mario Draghi's comments a day earlier.
China is sending a “remarkably strong signal” about stemming capital outflows by going after big companies, said the IMF’s China ex-chief.
The euro hit its highest level in over a week on Tuesday as the dollar slipped.
SHANGHAI, June 27- Chinese state-owned banks sold dollars in the onshore foreign exchange market to prop up the Chinese currency on Tuesday afternoon, traders said. "Major state-owned banks were selling dollars in the market to lift the yuan by more than 150 pips," said a trader at a Chinese bank in Shanghai. The yuan strengthened around 200 pips to a high of 6.8199...
China’s government and companies are “rationalizing” their use of debt, said Eugene Qian, chairman of UBS’ China strategy board.
Financial investors' lack of faith in another U.S. interest rate rise this year kept the dollar pinned back.
The European Central Bank is deciding when to wind back its expansive quantitative easing program.
LONDON, June 23- Chinese mainland shares rose nearly 1 percent on Friday, enjoying their best week since November after MSCI's decision to include them in its benchmark index, whilst South Africa's rand firmed after parliament backed the central bank's independence. Emerging equities have attracted $1.7 billion this week and emerging bonds $2.2 billion,...