Onshore yuan looks set for its first weekly gain in three weeks ...Middle East

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Onshore yuan looks set for its first weekly gain in three weeks
This week we had a 50 basis point cut to China's Reserve Requirement Ratio (RRR), which appears to have lent the yuan enough support to break its three-week losing streak.Barclays comments (via Reuters report):"China's support for yuan assets and growth has intensified, but one-time impulses have struggled to alter fundamental dynamics," "A 50-basis-point reserve requirement ratio (RRR) cut with the medium-term lending facility (MLF) rate on hold suggests a preference for liquidity management"Earlier, from ANZ:PBoC, government stimulus in China are merely a "painkiller, not a cure" for the economyAnd, earlier still, the PBoC continued with its efforts, underway for many months now, to suppor

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