Technical Analysis

PBOC intervention – Chinese state banks sold dollars to support yuan late on Tuesday


Eamonn Sheridan

Eamonn Sheridan

Wednesday, 26/10/2022 | 03:24 GMT-0

26/10/2022 | 03:24 GMT-0

Reuters with the info:

  • Major Chinese state-owned banks sold U.S. dollars in both onshore and offshore markets in late trade on Tuesday to prop up the weakening yuan, two sources with direct knowledge of the matter told Reuters.
  • selling of dollars by state banks in early U.S. trading hours

Offshore yuan update:

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