{"id":76797,"date":"2015-08-13T06:41:59","date_gmt":"2015-08-13T10:41:59","guid":{"rendered":"http:\/\/countingpips.com\/?p=76797"},"modified":"2015-08-13T06:51:02","modified_gmt":"2015-08-13T10:51:02","slug":"dollar-rebounds-despite-3rd-pboc-intervention","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/08\/dollar-rebounds-despite-3rd-pboc-intervention\/","title":{"rendered":"Dollar Rebounds Despite 3rd PBOC Intervention"},"content":{"rendered":"<div id=\"inves-2274807655\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">August 13, 2015<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Article by <a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/p>\n<p>The dollar gained traction against the Yen on Thursday following a third consecutive devaluation by the Peoples Bank of China.\u00a0 Thursday\u2019s version was less intense than the prior two with the PBoC reducing the value of the Yuan by 1.1% compared to the 1.6% and 1.9% in the prior two days.<\/p>\n<p>The central bank held a press conference to explain the devaluation arguing that there was no economic basis for the currency to continue depreciating, and that it would keep it stable. The PBoC had also intervened during its overnight session, when it trimmed losses in the CNY of nearly 2% to just 1%. The central bank also said that the way the reference rate for the new session was modified would now incorporate the currency\u2019s close from the previous session, as well as demand and supply conditions.<\/p>\n<p>Most other Asian currencies managed to rebound, and stock and commodity markets picked up. USD\/JPY recouped about half of Wednesday\u2019s decline, partly on dollar strength and partly as the yen corrected as stock markets moved higher.\u00a0 Support on the currency pair is seen near the 10-day moving average at 124.40, while resistance is seen near Wednesday\u2019s highs at 125.27.<\/p>\n<p><a href=\"http:\/\/www.forexcircles.com\/wp-content\/uploads\/2015\/08\/jpy-081315.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-8677\" src=\"http:\/\/www.forexcircles.com\/wp-content\/uploads\/2015\/08\/jpy-081315-300x195.jpg\" alt=\"jpy-081315\" width=\"300\" height=\"195\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-54242 alignleft\" src=\"http:\/\/countingpips.com\/articles-analysis\/wp-content\/uploads\/2014\/07\/Forex-Time-Logo.png\" alt=\"Forex-Time-Logo\" width=\"262\" height=\"90\" \/><strong>Article by <span style=\"text-decoration: underline;\"><a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/span><\/strong><\/p>\n<p><strong>ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 <a href=\"http:\/\/www.forextime.com\" target=\"_blank\">www.forextime.com<\/a><\/p><div id=\"inves-424196014\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Article by ForexTime The dollar gained traction against the Yen on Thursday following a third consecutive devaluation by the Peoples Bank of China.\u00a0 Thursday\u2019s version was less intense than the prior two with the PBoC reducing the value of the Yuan by 1.1% compared to the 1.6% and 1.9% in the prior two days. The [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-76797","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/76797","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=76797"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/76797\/revisions"}],"predecessor-version":[{"id":76800,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/76797\/revisions\/76800"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=76797"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=76797"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=76797"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}