PBOC: China to raise FX risk reserve ratio to 20% rein in yuan weakness – Reuters

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China’s central bank, the People’s Bank of China (PBOC), said on Monday it will reinstate foreign exchange risk reserves for some forwards contracts, a move that would make betting against the yuan currency more expensive in order to slow the pace of recent depreciation, reported Reuters.

The news fails to impress AUD/USD buyers, despite strong ties between Australia and China, as the broad risk-off mood weighs on the Aussie pair.

Also read: AUD/USD Price analysis: Renews two-year low as bears poke four-month-old support around 0.6500

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