China’s state banks are rampantly hoarding US dollars as yuan hits 14‑month high

China’s largest state-run banks spent this week aggressively buying US dollars in the onshore market, and then didn’t do a thing with them. This of course comes as the yuan surged to a 14-month high on Wednesday, and these banks always try to slow the currency’s rally without triggering a total reversal using… the US […] source: https://www.cryptopolitan.com/chinas-state-banks-hoard-us-dollars/