Data out from FX regulator SAFE a short while ago 19 Oct
- Jan-Sept net sell of USD 112.9bln
For commercial bank activity read PBOC intervention activity.
Say SAFE:
- will fend off disorderly and intensified cross border flows
- will safeguard stability of fx market
- will steadily push fwd convertibility in capital account
- will crack down on irregularities in fx market
- will guide market players to recognmize fx risks
Ah lovely. We look fwd to their guest posts here at FXL then.
- US Fed rate hikes and balance sheet normalization will not shake the stability of China's cross-border flows
- expects obvious weakening of one-way expectations of yuan exchange rate
Ok, whatever.
"Keep those cross border flows coming guys"