Its deja vu all over again in the land of speculative Yuan shorts today. With Golden Week looming, it appears PBOC is stomping on the throat of speculative shorts in the offshore Yuan with another gross intervention. The last 2 days have seen “someone” panic-buying Yuan higher by a stunning 800 pips, smashing CNH back to 3-week highs when then PBOC last intervened in size…
Offshore Yuan spikes 800 pips to 3-week highs…
That’ll show you George Soros… or not – let’s see what happens next week when China is “closed.”
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