Reuters quotes three traders, as saying that the Chinese state-owned banks swapped Yuan for dollars in forwards on Tuesday, in an attempt to stem the declines in the Chinese currency. The Yuan trades at a decade low versus the greenback, as market fret the USD/CNY could soon reach the 7.0000 level. The traders said there was no immediate evidence that the banks were selling the dollars to support the value of spot Yuan against the dollar. Two traders said they suspected the state-run banks were stockpiling dollars for future use. 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 Japan PM Abe: Japan charting a course to exit deflation over these three years FX Street 4 years Reuters quotes three traders, as saying that the Chinese state-owned banks swapped Yuan for dollars in forwards on Tuesday, in an attempt to stem the declines in the Chinese currency. The Yuan trades at a decade low versus the greenback, as market fret the USD/CNY could soon reach the 7.0000 level. The traders said there was no immediate evidence that the banks were selling the dollars to support the value of spot Yuan against the dollar. Two traders said they suspected the state-run banks were stockpiling dollars for future use. 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.
