Controlling the Yuan and the Yen
A rise in the CNY today. NAB’s Rodrigo Catril talks through China’s response to falls on Friday. Meanwhile bond yields in the US lifting ahead of inflation data at the back end of the week.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Tuesday 26th March 2024
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The CNY climbed higher today, as the PBoC set a higher reference rate, reversing expectations that perhaps authorities were willing to see the currency drift a little lower. NAB’s Rodrigo Catrl talks through the moves, and the warning from one senior Japanese official that speculation driving down the Yen will not be tolerated. Meanwhile bond yields in the US and Europe push higher, ahead of inflation data later in the week. Data is light today, but we get consumer confidence data for Australia, Germany and the US (conference board). But as Rodrigo points out, how people feel and what they do are often very different things.
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