The People’s Bank of China (PBOC) announced on Friday that it has halted treasury bond purchases temporarily due to short supply of the bonds.
The Chinese central bank’s declaration comes after repeated warnings of bubble risks in country’s red-hot bond market.
Market reaction
The Chinese Yuan has come under moderate selling pressure despite the above decision, with USD/CNY rising 0.25% on the day to near 7.3485 at press time.
This article was originally published by Fxstreet.com. Read the original article here.
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