The international bears have been shorting the RMB in the offshore market for five consecutive days, which is to see this weakness of Zhongshi, and there is an obvious suspicion of interest transfer in this position. Pen "Fun" Pavilion www.biquge.info

In fact, as they expected, as long as Zhong Shi sat in this position, he couldn't act rashly, after all, people are terrible.

After this is determined, they can be so unscrupulous to short, without any consideration for risk control.

But what is also strange is that the rumors have been circulating in the market for more than a week, but the Chinese government has not made any personnel adjustments, and Zhong Shi is still in charge of the work of stabilizing the foreign exchange of the yuan.

Although it is not clear what is going on, this situation is undoubtedly conducive to the international shorts who are short the yuan, so they are even more desperate to short the yuan, although the overnight call rate is a bit frighteningly high.

But it all came to an end.

On September 10, the FOB RMB opened at 6.4646, unchanged from the previous trading day's close. At the beginning of the opening, international speculators began to smash the market in the hope of rushing into the 6.5 line today.

At this time, there are still 354 basis points left from 6.5, and it is not realistic to drop so many in one day, but it is not a problem to drop 200 basis points. As a result, the pressure on the bulls in the market on the next trading day increases exponentially.

During this time, the bulls in the market were hit by the bears several times to around 6.5, and if it were not for the intervention of American capital, I am afraid that this line would have been broken long ago. The bet of the bulls is on the move of the Central Bank of China, but the other party has been slow to make a move, and the impact of that news has also made some bulls lose confidence.

The bears also saw the mentality of the bulls, and as soon as the market opened, they impatiently sold in the market, further suppressing the confidence of the other party.

"Did you do it?"

When he saw the exchange rate on the screen falling rapidly, Zhong Shi frowned tightly and said to himself, "Sure enough, I can't hold it back, and I'm going to make a move today?" ”

"What are you talking about?"

Fang Zhouyuan looked at the numbers on the plate, shook his head and sighed slightly, and suddenly heard Zhong Shi muttering in a low voice, and couldn't help but say, "Mr. Zhong, if you don't make a move, the target price will soon approach 6.5." ”

"It's going to go up today."

After glancing at the other party with a smile, Zhong Shi said for no reason, "After today, I think international bears should have a deep understanding of the RMB." ”

As he spoke, the RMB exchange rate fell by another 100 basis points, directly falling below the 6.47 mark.

As the 6.47 mark was breached, the traders who were still watching the market carefully before let out a burst of exclamations, and many eyes looked at Fang Zhouyuan.

There has been no movement in Zhongshi in the past few days, but the yuan is still within the safe range, so traders are not in a hurry. But now with 6.5 approaching step by step, many traders can no longer sit still. Looking at Fang Zhouyuan, I hope he can talk to Zhong Shi to see when he will start to intervene in the exchange rate market.

Facing the traders' gazes, Fang Zhouyuan shook his head slightly, signaling that he could not do anything.

Quite a few traders sighed softly.

So far, they still can't figure out what kind of medicine is sold in Zhongshi gourd.

"Alright, let's get started!"

Taking advantage of everyone's inattention, Zhong Shi sneaked outside, made a phone call, and issued an order to the people who were already waiting on the other end of the phone, "Only today is the day to completely defeat the bears!" ”

Hedge fund giants such as Tianyu, Bridgewater, Paulson and Castle have long been gearing up for a long time, placing heavy troops on spot, futures and forward contracts, just waiting for Zhongshi's order.

"Mr. Zhong, are we still doing nothing today?"

By the time Zhong Shi returned to the trading floor, the exchange rate of the yuan had broken through 6.48 and came to 6.4820, heading directly for a decline of 200 basis points.

With the current downward momentum, a break below 6.4899 is not a problem, and even a fall to around 6.5 is a possibility.

After seeing this posture, Fang Zhouyuan couldn't sit still, and took the initiative to come over and ask Zhong Shi, "In just a few minutes, it is approaching a decline of 200 basis points, and the bears are prepared." Isn't that a bit unreasonable if we still don't move? ”

"Don't worry, it's going to go up."

Zhong Shi still looked unhurried, waved his hand slightly, and said, "It's going to rise soon, you're a little worried!" ”

"Am I worrying or are you slacking off?"

Fang Zhouyuan, who had endured for a long time, finally broke out, and couldn't help but ask in a loud voice, "Mr. Zhong, we have also heard that rumor. Whether it's true or not, you have to do something. If we are tied hand and foot like this, how will we work in the future? Now it's about preserving the country's exchange rate system, not a personal battle of will, do you understand? ”

His suddenly raised voice immediately attracted the attention of all traders.

"Oh, so you heard that rumor too?"

Zhong Shi looked at Fang Zhouyuan with a smile, then at the traders who were looking this way, and said loudly, "And you, you should have heard that rumor too, right?" You must be very strange in your heart, whether this rumor is true or false, and why I have not moved for so long, right? ”

No one spoke, and there was a deathly silence.

"Lao Fang, tell me, do you think the rumors that I am suspected of benefit transfer are true or false?"

After glancing around, Zhong Shi's gaze finally fell on Fang Zhouyuan, "Do you also think that I am not moving, because I am bound by that rumor?" Do you think I'm doing nothing now because I'm afraid of confirming that rumor? If that's the case, you're underestimating me! ”

"But what is it all for?"

Fang Zhouyuan was speechless when asked, pulling his hair hard, and only after a while did he ask with a sad face, "I really can't figure it out, what are you talking about?" Seeing that the exchange rate is already approaching 6.5, you have not made any moves. IMHO, even if there is a transfer of benefits, it is time to do it! You can't expect the central bank to raise the rate of call again, right? ”

"Old Fang, let me ask you, what is the purpose of our intervention in the exchange rate?"

Zhong Shi looked at him for a long time, with a breezy expression, seeing that the other party did not speak for a long time, he simply took the initiative to say, "Let me tell you, in order to combat the international short-selling forces, do not let the long-term bearish RMB become a recognized expectation in the market." To put it simply, we can depreciate, but only actively, not because of external influences. Do you think this statement of mine has any point? ”

"Makes sense."

Fang Zhouyuan gradually calmed down, and after thinking for a while, he nodded, "What you said does make sense, but what does it have to do with the current situation?" ”

"If I can crush the bears without having to tap into the country's foreign exchange reserves, wouldn't that be the best of both worlds?"

Zhong Shi laughed, patted the other party's shoulder, pointed to the screen on the wall and said, "Look, isn't the exchange rate already rising now?" ”

Following the direction he pointed, all the personnel looked together, and they were stunned to find that they didn't know when, the exchange rate of the renminbi had quietly stabilized, and it was rising in an orderly manner.

As he spoke, the exchange rate of the yuan had fallen to the highest point of 6.4826, but it had also come to an end. Fierce funds came out of thin air, and the renminbi was firmly held here, so that the exchange rate stopped the decline.

Just when everyone was amazed, these funds were not satisfied, but took the initiative to choose to attack, buying yuan in the market everywhere. Their large volume and abundance have made many traders who are considering selling RMB without the slightest hesitation and directly choose to trade.

The exchange rate began to rebound.

"What's going on?"

Looking at the changes on the plate, Fang Zhou was stunned, and only after a while did he remember what Zhong Shi said before, and couldn't help but point at Zhong Shi, and asked with a strange expression, "All this has something to do with you?" ”

"The show has just begun!"

Zhong Shi was noncommittal, just pointed to the screen and motioned for the ark to look there, "Just today, the bears will pay a heavy price for their actions!" ”

The bulls who appeared out of thin air caught the bears off guard. However, after an initial rout, they quickly fought back. In fact, in order to bring the renminbi down to 6.5, they have accumulated a lot of chips on hand, and originally wanted to release it little by little, but now the situation has changed, and they have to increase their selling efforts.

"Someone asked if we were making a move!"

At that moment, a trader who had just hung up asked in a loud voice, "Are we going to tell the market a little bit about it?" ”

The changes in the market not only made the bears aware of the main force, but also made rumors spread. After taking into account the possible amount of funds in the market, traders believe that the biggest possibility is that the central bank is brazenly intervening in the exchange rate of the offshore yuan. So the traders who knew each other immediately called and asked about the specific situation.

In this case, if the news is announced, it is encouraging the bulls to actively buy, which can give a boost to the current upward momentum. However, the trader did not dare to assert himself, but chose to ask Zhongshi for instructions at the first time.

"This ...... What the hell is going on? ”

Until now, Fang Zhou was far from understanding, he scratched his head and stared at Zhong Shi with a pair of big eyes, he knew very well that the person in front of him must know something.

"Don't say anything."

In the eyes of everyone, Zhong Shi waved his hand slightly, "Don't admit or deny, let the market guess." Only in this way can the bears come out of the nest, and this time I must give the bears a lesson that they will never forget! ”

As he spoke, the yuan rose by another 50 basis points to around 6.4700.

This is an important juncture! (To be continued.) )