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Yuan forwards hit weekly highs on bets PBOC to support currency before G-20

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 22, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Yuan forwards hit the highest levels in a week on expectations that the Chinese authorities will support the currency before the Group of 20 central bankers and finance ministers meeting at the end of this week.

    Officials from the world’s biggest economies meeting in Shanghai on Feb. 26 and 27 will discuss the recent turmoil in China’s markets and ways to bolster the global financial system.

    The yield on China’s government bonds maturing October 2025 rose one basis point to 2.89%, prices from the National Interbank Funding Center show. The seven-day repurchase rate, a gauge of interbank liquidity, fell one basis point to 2.26%, according to a weighted average from the Center. The cost of one-year interest-rate swaps, the fixed payment to receive the floating seven-day repo rate, was steady at 2.30%, data compiled by Bloomberg show.
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