As a reminder, China is heading into a long holiday from Tuesday:
- China’s Lunar New Year, marking the start of the Year of the Snake, falls on Wednesday, January 29.
- The official public holiday spans 8 days, from January 28 (New Year’s Eve) to February 4.
- Many businesses and government offices close, allowing people to travel home for family reunions.
- Celebrations traditionally continue for 16 days, culminating with the Lantern Festival on February 12.
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With this long holiday comes a large demand for cash.
The People’s Bank of China is in preparation mode, injecting funds last week for today for 14 days rather than the usual 7 days.
This article was written by Eamonn Sheridan at www.forexlive.com.
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