Some upbeat/defiant comments from the Chinese central bank coming out on the wires
more to follow
- interest rate volatility and credit crunch will fade gradually
- will use various tools to manage banking system liquidity
- will provide cash for banks if needed for temporary shortages
- has already provided cash to some institutions
- aims to strengthen regulations on mismatch im maturities in money markets
Time will tell how serious/accommodative they want to be but markets generally buoyed on the comments
Equity markets a little firmer and USDJPY up to 97.46 having failed to breach decent support just below 97.00 earlier
AUDUSD not so impressed though and sits at 0.9258 having failed to penetrate the good selling interest at 0.9300 I highlighted in the orderboard post
