Daybreak Europe Show Open: Yuan Resilient After PBOC Hike

The transcript discusses the People's Bank of China's (PBOC) recent decision to raise the triple R by 2%, marking the first such move since 2007. This action is intended to address the strengthening of their currency, but its effectiveness is questioned. The transcript explores the potential impact on liquidity, market reactions, and the broader implications for global equities, bonds, and currencies.

What is the significance of the PBOC's recent actions regarding their currency?

How does the PBOC's decision to raise the triple affect liquidity in the system?

What doubts are raised about the effectiveness of the PBOC's recent move?

In what ways can tightening onshore impact global markets according to the text?

What are the implications of the PBOC issuing a cease and desist order?