News Snapshot:
China – PBOC Forex Committee instructs bank traders to limit yuan speculation – ForexLive Newswires reported over the weekend on moves from Chinese authorities to limit yuan trading. Reuters reported that the China Foreign Exchange Committee (the CFEC operates under guidance from the People’s Bank of China) proposed a plan to limit speculative foreign-exchange trading and volumes at Chinese banks’ proprietary desks. Bloomberg followed up with banks have were advised to better track their proprietary trading and improve risk management: - banks should review trading volumes at proprietary desks when volumes deviate significantly from the normal levels (saying a 50%...
