China’s major state-owned banks reportedly seen buying US dollars late last week

Reuters reports, citing sources familiar with the matter

The yuan advanced to its highest since June on Friday but saw a late bounce in the final half-hour, where USD/CNY climbed from roughly 6.4350 to 6.4450.
With not much else to work with so far today, it could be part and parcel of the slight bid in the dollar to start the week too with USD/CNY stabilising around 6.4500.
It looks like China wants to keep the yuan in more of a stable region still, with USD/CNY having traded in between 6.45 and 6.50 for the most part since mid-June.
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