China’s SAFE tightens control over interbank currency trade

The State Administration of Foreign Exchange (SAFE), China’s fx regulator, tightened control over the inner workings of its currency market, enhancing scrutiny of forex dealers, Reuters reports, citing two banking sources.

Key takeaways

Urges market makers to narrow bid/ask spreads.

Has always supported participants in trading reasonably and to promote order and efficiency.

developing story ...