- PBOC to proactively support interbank trading in the pair
New just out on the wires from the Peoples Bank of China. No further detail
No doubt the annoucement timed to coincide with the Chinese Premier’s state visit to London
Add:
- trading will start tomorrow ( Thursday)
- PBOC picks HSBC as first market maker
And yes, it helps to cement the Anglo-Chinese love-in, so says the PBOC
The move will help to lower foreign exchange conversion costs and will promote the usage of both yuan and sterling in bilateral trade and investment, which will help strengthen financial ties between the two countries