30 Jun 2017
Did PBOC boost Yuan to its strongest level since November?
USD/CNY pair fell to 6.7616 this month; the lowest level since November. The drop could be surely attributed to the broad based sell-off in the USD. However, as per Bloomberg report, the PBOC too was at play here.
The report says a 0.6% drop in the Yuan in the first two weeks of June may have forced the PBOC to intervene on at least three occasions over the past two weeks. That seems to have pushed the Yuan to its highest level since November.