- Analytics
- News and Tools
- Market News
- Acquiescence of a weaker CNY does not imply free fall in the currency – Commerzbank
Acquiescence of a weaker CNY does not imply free fall in the currency – Commerzbank
The Chinese yua has fallen sharply by over 2% in the past two weeks and to the weakest level in two years. Nevertheless, acquiescence of weaker CNY does not mean free fall, as economists at Commerzbank note.
People's Bank of China has the ammunition to support CNY if needed
“We suspect PBoC is acquiescing to a weaker CNY but it will continue to keep a close eye on it.”
“It is not unusual for FX rates to overshoot in the short-term and this could play out for USD/CNY.”
“We need to bear in mind that PBoC has the ammunition to support CNY if needed and the pace of CNY depreciation will dictate PBoC intervention.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
