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PBOC tightening the screws on CNH shorts

Discussion in 'Fundamental Analysis' started by ForexLive, Sep 8, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
    Likes Received:
    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:

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