In the wake of the latest sell-off in the Chinese currency, the Yuan, Reuters reports traders, as saying that the Chinese major state-owned banks have reputedly intended to lend support to the local currency. The banks are seen receiving USD-CNY swaps in a bid to stem the Yuan fall. Amid the Yuan tumble, the risk-off sentiment has gripped the Asian markets as the greenback continues to hold the higher ground following Wednesday’s Fed minutes. China’s onshore Yuan hits lowest since March 2008 USD/CNH technical analysis: Rises 0.22%, confirming falling channel breakout 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 Gold risk reversals: Call premium has weakened over the last two weeks FX Street 4 years In the wake of the latest sell-off in the Chinese currency, the Yuan, Reuters reports traders, as saying that the Chinese major state-owned banks have reputedly intended to lend support to the local currency. The banks are seen receiving USD-CNY swaps in a bid to stem the Yuan fall. Amid the Yuan tumble, the risk-off sentiment has gripped the Asian markets as the greenback continues to hold the higher ground following Wednesday's Fed minutes. China's onshore Yuan hits lowest since March 2008 USD/CNH technical analysis: Rises 0.22%, confirming falling channel breakout 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.
