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People's Bank of China cut banks' reserve requirement

People's Bank of China cut banks' reserve requirement | 07 December 2021

07 December 2021, USD/JPY

People's Bank of China cut banks' reserve requirement

USDJPY trading plan:

The People's Bank of China said on Monday it would cut the amount of cash that banks must hold in reserve, its second such move this year, releasing the funds in long-term liquidity to bolster slowing economic growth. People's Bank of China cut banks' reserve requirement ratio freeing up 1.2 trillion yuan ($188 billion) in long-term liquidity. The PBOC will also cut the rates on its relending facility by 25 basis points to support the rural sector and small firms, the state-run Securities Times reported. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.

Investment idea: buy 113.52 and take profit 114.05.

David Johnson
Analyst of «FreshForex» company
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