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China’s SAFE: Will strengthen FX situation monitoring and policy reserves

2024-06-21FXStreetFXStreet
China’s FX regulator, the State Administration of Foreign Exchange (SAFE), said in a statement on Thursday, it “will strengthen FX situation monitoring and policy reserves.” Additional quotes Will severely crack down on illegal FX activities.

China’s FX regulator, the State Administration of Foreign Exchange (SAFE), said in a statement on Thursday, it “will strengthen FX situation monitoring and policy reserves.”

Additional quotes

Will severely crack down on illegal FX activities.

Will further improve management of FX reserves.

Will effectively safeguard stable operations of forex market, and the national economy, and financial stability.

Will steadily promote diversified asset allocation, ensure safety of liquidity and value preservation of FX reserve assets.

Market reaction

At the time of writing, AUD/USD is losing 0.17% on the day to trade at 0.6650.

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