Israel’s invasion of Rafah will not eliminate Hamas or end the war. So, what is Benjamin Netanyahu’s plan? 
Four ways EU laws affect the daily lives of European citizens today 
Latest inflation figures are good news 
Exams: seven tips for coping with revision stress 
The budget is full of good news, but good news isn’t the same as good management 
Why banks consider renewable energy to be a riskier investment than fossil fuels 
How supermarkets are changing their branding to make you think they’re cheaper 
Cheaper medicines and a new approach for mental health care 
The front end CNH rates remain low amid ample liquidity. The switch to the averaging method in required reserve calculation for onshore RMB deposits placed by offshore banks may still be having an impact, in discouraging the parking of RMB funds onshore.
Other factors for the low CNH rates possibly include issuer swap flows upon dim sum bond issuances; higher southbound quota usage under the Shanghai-Hong Kong Stock Connect, averaging 13% in the past month versus around 6% in the prior period.
Increasing USD funding costs in onshore China encouraging entities to source funds via other channels. It is not easy to time when these flows are digested and when FX can exert a bigger impact on CNH rates.
By the end of 2016, we expect USD/CNY to be testing 7.0 due to a mix of cyclical USD strength as well as domestic factors. FX intervention cannot continue indefinitely. Widening GDP growth, inflation, and interest rate differentials also argue for a higher USD/CNY.
Well, by the end of 2016, we expect the benchmark 1-year lending rate to be at 4.10% and the RRR (for major banks) to be at 15.5%.
There had been an extended period where CNH CCS/implied rates were mainly driven by liquidity rather than FX, in 2011/12, for example.
