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The PBoC Is ‘Paying Close Attention’ To The Yuan, And They Would Hate To Have To Sell Some Treasurys, Ok?
"USD/CNH has effectively risen a straight line in early Tuesday business and that is too much, too quickly," Bloomberg's Mark Cranfield wrote at 9:57 PM, New York time on Monday, adding that the currency "may have more to weaken ahead of July 6 as traders price a full trade war, but a move of this velocity is likely to bring an official rebuke in some form [and] investors will now be on high alert for official push back."
Mark was referring to the yellow highlight in the following chart, wh
Hberg,
Any sense as to what the threshold (USDCNH) is at which the political calculous says the PBoC sell US Treasuries?
Thanks