China SAFE: Recent reports on FX curbs on banks is untrue

China's FX regulator, State Administration of Foreign Exchange (SAFE) came out with a statement last hour, denying reports of PBOC intervention to step up yuan curbs with banks, as reported by Bloomberg.

Key Headlines:

Will crack down on illegal activities in FX market

Recent reports on FX curbs on banks is untrue

Supports measures to facilitate trade

Supports making trade/investment convenient

Banks should safeguard FX market stability