π¨π³ China's FX reserves hit $3.411 trillion in April, but the dollar's weakness did most of the work
The day in view
π¨π³ China's FX reserves hit $3.411 trillion in April, but the dollar's weakness did most of the work
China's FX reserves rose to $3.411 trillion in April, up $69 billion MoM. A weaker dollar likely drove much of that gain through valuation effects. Upcoming trade data will determine whether the build reflects real export resilience or accounting arithmetic.