USD/CNH snaps two-day downtrend near 6.7950 amid concerns over PBOC, Taiwan – by anilpanchal7 USDCNY PBOC Taiwan RiskAppetite Fed
“PBOC has limited room to ease due to concerns over inflation and capital flight,” Reuters reported late Wednesday, citing PBOC insiders. The news also mentioned that the economic recovery looking increasingly shaky.
The latest comments from the US Trade Representative’s office stating, “Early this autumn, the US and Taiwan will begin formal negotiations on a trade initiative,” seem to renew the fears of the US-China tussle and favor the USD/CNH buyers.
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