The Traderszone Network

Published in TZ Latest News 7 September, 2016 by The TZ Newswire Staff

PBOC tightening the screws on CNH shorts

The overnight HIBOR yuan funding interest rate is at its highest since February
– Around 5.45%
– The PBOC is squeezing offshore yuan shorts to try to restrain bearish yuan sentiment
USD/CNH was sold earlier (some traders bought CNH to cover funding needs) but has since more than reversed: