Chinese reserves data just out 9 Oct
- end-Sept gold reserves 59.24mln troy ounces at USD 76.005bln
8th straight gain for Chinese FX reserves, the longest run since mid-2014 when they peaked around USD 4trln
Curbs on capital outflow have reduced the need of PBOC intervention while better economic data has restored a little more faith back in the yuan.
Economists/analysts suggest that if the trend continues then the PBOC will be inclined to relax those capital controls a little further.
Yuan rallying as I type.