Swap ‘til you drop
Subscribe to keep reading.
Trivium Markets keeps you briefed on the latest developments in China markets policy.
Already a subscriber? Log in.
Who needs foreign exchange reserves when you can get state banks to defend your currency instead?
On Monday, Reuters reported that China’s state banks “stepped up” their defense of the yuan, selling a large volume of dollars in swap and spot transactions.
Some context: Swap transactions involve two ...