Brokerages in China have dropped detailed currency forecasts from their research notes, or have restricted access to them, underlining the growing sensitivity in the financial sector to a regulatory clampdown on speculative investment.
on publishing commodity prices
The market effect of publishing only generalised forecasts is unclear, particularly as foreign institutions continue to offer precise ones. Clients can also privately access projections - a useful tool for corporates in managing foreign exchange exposure. Two currency traders at banks said the trend was in response to pressure from China's central bank and its foreign exchange division.
The PBOC and China's State Administration of Foreign Exchange , the forex regulator, did not respond to faxed questions about their position on forecasts.
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