Renminbi fixing: PBoC pulls its support
Jan 10, 2018
Very superstitious: how “counter-cyclical bounce” is driving the renminbi
Markets are skittish, prone to starting at shadows or gorging themselves on rumours. Is China’s ‘counter-cyclical bounce’ just the latest piece of scuttlebutt to affect the currency or is the writing on the wall?
Like its famed counterpart the ‘Ting Hai’ effect – where a new appearance by Hong Kong soap star Adam Cheng leads to a self-fulfilling bear run on the markets – a phenomenon dubbed the “counter-cyclical bounce” may be driving a rally in the Chinese currency.
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