Adjusted to 20%
From the Chinese Central Bank:
- China to adjust forward foreign exchange risk reserve requirement ratio to 20%
- Current forward foreign exchange risk reserve requirement ratio is 0%
- New forward foreign exchange risk reserve requirement ratio effective from August 6
- It will take counter-cyclical measures to keep forex markets stable based on market conditions
- It will keep the yuan basically stable
- USD falls. Majors to session highs
Chart musings:
- But the DXY is at resistance remember.
- Could exaggerate the reaction/
