Further Chinese intervention to prop up the yuan: State banks USD/CNY sellers

<p>Major Chinese State owned banks selling dollars to buy yuan</p><ul><li>had been doing so earlier this week during Asia hours, also during London and US hours</li><li>once again seen active today, 17 August 2023, buying USD/CNY in spot market</li></ul><p>Earlier this week:</p><ul><li><a href="https://www.forexlive.com/news/forexlive-asia-pacific-fx-news-wrap-china-cuts-rates-data-disappoint-yuan-intervention-20230815/" target="_blank" rel="follow" data-article-link="true">ForexLive Asia-Pacific FX news wrap: China cuts rates, data disappoint, yuan intervention</a></li></ul><p>The intervention didn't make a whole lot difference. The week so far in USD/CNH:</p>

This article was written by Eamonn Sheridan at www.forexlive.com.