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The reverse repos into the banking system

The reverse repos into the banking system | 28 December 2021

28 December 2021, GBP/USD

The reverse repos into the banking system

GBPUSD trading plan:

China's short-term money rates eased from levels around their highest in months after the country's central bank stepped up liquidity injection to meet higher demand for cash towards the year-end. The People's Bank of China injected 200 billion yuan through seven-day reverse repos into the banking system, the biggest daily injection since late October, offseting 10-billion-yuan worth of such loans expiring on the same day. Market sentiment improved and cash conditions largely balanced after the liquidity operation, some bond traders said, adding they expected markets to smoothly tide over the year-end.

Investment idea: buy 1.3418 and take profit 1.3480.

David Johnson
Analyst of «FreshForex» company
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