- China 2012 GDP forecast cut to 7.7% from 8%.
- Sees no recovery for China’s exports in sight.
- China’s ability to ease policy constrained by home prices.
- China 3rd qtr forecast cut to 7.4% from 8% .
Side note , China’s RRR cut postponed as reverse repo satisfy needs . The USD firming slightly across the board , along with the YEN at 78.20. EUR/USD at 1.2273, AUD/USD at 1.0546, and NZD/USD at 0.8110.
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