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September 01, 2020 1:37pm
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Beijing Bullies Banks Into Buying Routed Renminbi

A day after Beijing pressured investment funds ‘not to sell’ stocks, Bloomberg reports that, according to people familiar with the matter, Chinese authorities told state-owned banks to step up intervention in the currency market this week, in a push to prevent a surge in yuan volatility. And sure enough, after 5 straight days lower, China’s […] Source
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