26 Jun 2014
Renminbi in focus and supported - BTMU
FXStreet (Guatemala) - FX Strategists at the Bank of Tokyo Mitsubishi UFJ explained that unsettled prospects for Iraq have so far not produced much impact on the renminbi.
Key Quotes:
"Unsettled prospects for Iraq have so far not produced much impact on the renminbi, in a central bank-induced world of low volatility (and here we're speaking not only of PBOC). Policy onshore continued to shift slowly toward supporting growth this week."
"Including more signs of an easing credit stance. This is occurring, however, against the backdrop of an official manufacturing PMI that should point to continued recovery (even as its HSBC/Markit cousin has played catch-up). Better economic signals continue to invite inflows and moderate currency strength in our view."
Key Quotes:
"Unsettled prospects for Iraq have so far not produced much impact on the renminbi, in a central bank-induced world of low volatility (and here we're speaking not only of PBOC). Policy onshore continued to shift slowly toward supporting growth this week."
"Including more signs of an easing credit stance. This is occurring, however, against the backdrop of an official manufacturing PMI that should point to continued recovery (even as its HSBC/Markit cousin has played catch-up). Better economic signals continue to invite inflows and moderate currency strength in our view."