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USD/CNY: dubious on veracity of 2015 China growth - BTMU

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 14, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - Analysts at Bank of Tokyo Mitsubishi explained that the PBOC squeezed out spec CNH shorts but the attempted stabilization is falling somewhat flat.

    Key Quotes:

    "The fact USD/CNY levels have sustained at higher levels is one hint spec will return one day. And we told you so: The cross-year funding squeeze we first mentioned in November - well, guess what, it happened.

    4Q15 GDP will probably confirm 2015 was a year the Chinese would like to forget. But much of 2016 may be more of the same. And unfortunately we still have doubts about the veracity of reported 2015 growth."
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