Markets

It’s been a painful 24 hours for those betting on a continued renminbi rout

After suspected “nuclear-weapon”-like intervention from the PBOC, the gap between offshore traded yuan, or USD/CNH, to its onshore-traded counterpart, USD/CNY, has all but vanished over the past 24 hours. The 5-minute tick chart below, courtesy of Thomson Reuters, shows how the gap between offshore and onshore trade yuan has narrowed […]
It’s been a painful 24 hours for those betting on a continued renminbi rout
Markets

It’s been a painful 24 hours for those betting on a continued renminbi rout

After suspected “nuclear-weapon”-like intervention from the PBOC, the gap between offshore traded yuan, or USD/CNH, to its onshore-traded counterpart, USD/CNY, has all but vanished over the past 24 hours. The 5-minute tick chart below, courtesy of Thomson Reuters, shows how the gap between offshore and onshore trade yuan has narrowed […]
It’s been a painful 24 hours for those betting on a continued renminbi rout