China state banks seen selling dollars in FX market to arrest yuan losses - traders

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Major state-owned Chinese banks were seen selling dollars at around 6.97 per dol...

 

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China selling dollars more to arrest yuan slide, or only some to prop up the rmb, and buying gold with much of the rest?

freegolds But I thought they were buying them for the muh liquidity

'...to arrest yuan losses.' I guess. Sure seems to me a lot of countries are dumping dollars right now. Sovereign stuff, not corporate. Dump the dollar, sanctions don't count. It doesn't take a dummy.

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