9 Dec 2014
FXStreet: PBoC and the SNB, the tale of two interventions – Tip Tv
FXStreet (Barcelona) - FXStreet’s Craig Drake and the Tip Tv Team discuss about CNY’s biggest drop since 2008 and the probable action by SNB in its meeting on Thursday.
Key Quotes
“The PBoC intervened overnight aiming to deflate the equity and bond markets with a higher CNY fix and tighter collateral rules on short-term/repos, pushing CNY to its biggest drop since 2008.”
“On Thursday, the SNB meeting could be interesting for once – will it intervene now to scare off inflows driven by any future ECB QE, or does it keep its powder dry in case QE does come?”
Key Quotes
“The PBoC intervened overnight aiming to deflate the equity and bond markets with a higher CNY fix and tighter collateral rules on short-term/repos, pushing CNY to its biggest drop since 2008.”
“On Thursday, the SNB meeting could be interesting for once – will it intervene now to scare off inflows driven by any future ECB QE, or does it keep its powder dry in case QE does come?”