Sunday, September 08, 2024

Chinese banks have built a $100bn short against the US dollar to prop up the yuan — and hedge funds are eager to get in on the trade

 


Holger Zschaepitz
@Schuldensuehner
Chinese banks have built a $100bn short against the US dollar to prop up the yuan — and hedge funds are eager to get in on the trade. At the center of it all are transactions known as FX swaps. These have quietly become a key tool for state-run Chinese banks seeking to prop up the yuan during periods of outsized selling pressure. bloomberg.com/news/features/
Image
134.1K
Views
-

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)

No End in Sight to US-Iran War,...Banks Get Picky on Asset-Based Loans,...UAE’s Exit From OPEC Will Lower Energy Prices, Trump Says,...Option Traders Build ‘Electric Fence’ Around Bitcoin at $80,000

    Markets Odd Lots ETFs Crypto Deals David Paul Morris/Bloomberg Oil Charges Toward $120 With No End in Sight to US-Iran War Option Trader...