China's FX regulator SAFE out with a statement 13 Jan
- will crack down on illegal activities in FX market
- recent reports on FX curbs on banks is untrue
- supports measures to facilitate trade
- supports making trade/investment convenient
- banks should safeguard FX market stability
Yuan paring losses. Onshore USDCNY now down to 6.8915 . Offshore 6.8470
