Peoples Bank of China out with a statement over the wires 30 June
- some media reports mislead and disrupt market
Seemingly a denial on earlier reports I posted that they were looklng to send USDCNY to 6.80
AUDUSD not really rallying so perhaps that was already in the market price. but it could be just a general media-report related comment from PBOC
- media reports help some speculative forces to short the yuan
- some media continuously publish "inaccurate information"
- PBOC does not intend to promote trade competitiveness through depreciation of the yuan
The question remains, does anyone believe them ?
AUDUSD steady around 0.7445 after the strong recovery from 0.7371 following the earlier Reuters report.