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USDCNY - Peoples bank of China Steps in
This is a great example of how bank are helping the countries economies just by buying currencies. Swiss Frank was another good example of this ! This is what happened over the last 2 days!
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Just pay attention to the tight bound range. the Chinese economy had another big fall , so they might have to step in again.
I know what you mean. Caused a lot of stir in the economy, but the Peoples bank of China assured that they will not touch the currency anymore Unless there will be a big volatility in the market.