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DeepNewz, mobile.
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The People's Bank of China (PBOC) is facing pressure to allow the yuan to weaken further, with regional regulators in China guiding companies to delay or cut bulk buying of foreign exchange. Market pressure is growing on the PBOC to depreciate the yuan amidst negative RMB carry versus USD. Traders are betting on the renminbi weakening due to the gap with US borrowing costs.
Top Overnight News Market pressure is growing on the PBOC to allow the renminbi to weaken, as traders bet that the yawning gap with US borrowing costs will lead more investors to sell out of the Chinese currency. China’s central bank has maintained a strong yuan policy so far…
1/8 Good FT article on currency pressures facing the PBoC. The negative RMB carry versus USD and other currencies, combined with very limited RMB upside, makes it rational for anyone who can short the RMB to do so. https://t.co/A0wcO0C3Rn via @ft
FT story summarizing the pressure the PBOC now faces to allow additional depreciation of the already weak (in real terms) yuan. Alternative headline would be market wants to push the world's biggest manufacturing surplus up more! https://t.co/Av8uflUD5h https://t.co/hnxwXSJFhQ
