Despite the emergency Federal Reserve (Fed) rate cut overnight to tackle the coronavirus outbreak, the People’s Bank of China (PBOC) maintained it short-term borrowing rates steady on Wednesday. The Chinese central bank skipped open market operations, it said in a statement on the website, leaving reverse repurchase agreements unchanged, per Reuters. Most analysts said that the PBOC decision was on the expected lines. Market reaction The Chinese yuan is seeing some recovery gains vs. the greenback amid PBOC status-quo, with USD/CNY now losing 0.38% to trade at 6.9295. The Chinese stocks are trading broadly flat, although the bias remains tilted to the downside. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next UK to register coronavirus/ COVID-19 as ‘notifiable disease’ – BBC FX Street 2 years Despite the emergency Federal Reserve (Fed) rate cut overnight to tackle the coronavirus outbreak, the People’s Bank of China (PBOC) maintained it short-term borrowing rates steady on Wednesday. The Chinese central bank skipped open market operations, it said in a statement on the website, leaving reverse repurchase agreements unchanged, per Reuters. Most analysts said that the PBOC decision was on the expected lines. Market reaction The Chinese yuan is seeing some recovery gains vs. the greenback amid PBOC status-quo, with USD/CNY now losing 0.38% to trade at 6.9295. The Chinese stocks are trading broadly flat, although the bias remains tilted… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
