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Stephen Green, head of research at Standard Chartered Bank Greater analysis of mid-September, when the U.S. dollar against the yuan in the bank market began to weaken, when a sharp devaluation of the RMB offshore, also exporters at this time (not importers) with outside, rather than the territory of the huge dollar holdings to sell power.
Exporters suddenly stopped in the territory of its holdings of U.S. dollars sold to the banks, while the importers suddenly start buying more, "which makes the end of September, October and early November, U.S. companies sold to the banks of almost zero, within upward pressure on the apparent disappearance of this market during the many days are net purchases of dollars. "he revealed.
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