03/08/18

China Nukes Yuan Shorts After PBOC Raises FX Fwd Reserve Requirement To 20%



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China Nukes Yuan Shorts After PBOC Raises FX Fwd Reserve Requirement To 20%
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In the clearest signal yet that the PBOC is drawing a "red line" to further currency devaluation, moments ago the PBOC announced it is raising the reserve requirement for FX forwards to 20%. 

As the PBOC notes, "due to factors such as .....

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