China Press: “Rise in China FX reserves may indicate PBOC has stopped regular intervention"

A front page commentary in the China’s Securities Times reported via MNI noted that the “Rise in China FX reserves may indicate PBOC has stopped regular intervention"

Key Headlines:

The unexpected rise in forex reserves in June may indicate that the Chinese central bank has stopped regular intervention in the foreign exchange market

This also indicates that market sentiment was stable despite recent fluctuations of the yuan