CNH: USD/CNY Fixing Nudges Up, USD/CNH Edges Up From Session Lows

• CHINA SETS YUAN CENTRAL PARITY AT 7.1077 WEDS VS 7.1057

The NZ government has appointed Sweden's Anna Breman to be the new RBNZ governor. Breman will start the position on Dec 1 of this year. Current acting RBNZ Governor Hawkseby will remain in the position until then. Note the last RBNZ policy meeting for 2025 will be held on Nov 26, so the first policy meeting that Breman will be part of is the Feb 18 2026 OCR. 

• Breman comes from the Sweden Central Bank, Riksbank, where she is currently First Deputy Governor. Per her bio: "Anna Breman took up the post of Deputy Governor of the Riksbank on 1 December 2019 with a term of office of six years. Ms Breman was appointed First Deputy Governor of the Riksbank with effect from 2 September 2022, and until her period of office expires on 30 November 2025. Anna holds a PhD in Economics and has previously been chief economist and global head of macro research at Swedbank. She has also worked at the Swedish Ministry of Finance, the World Bank and as a researcher in the United States."  

The BoJ offers to buy a total of Y1135bn of JGBs from the market:

• Y325bn worth of JGBs with 1-3 Years until maturity
• Y325bn worth of JGBs with 3-5 Years until maturity
• Y350bn worth of JGBs with 5-10 Years until maturity
• Y135bn worth of JGBs with 10-25 Years until maturity