China Flows - USD/CNY NDF stable; watch PBOC 1Y auction today for policy signals |
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Published at 02:26 (GMT) 26 Jan USD/CNY 1Y NDF continues to hold steady around the 6.6250 mark at the open this morning, not showing much life despite expectations of further tightening measures from China. Range trading seen for now between 6.6000-6.6500 and out of this range for a clearer bias. Helping to quell fears of a mark drawback in loans, PBOC official Su Ning said yesterday that loan growth will be reasonably sufficient to cement recovery and reiterated the 'moderately loose policy'
Filed under: Technical
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