China eyes easing developer funding restriction in $152 billion ABS market

Bloomberg came out with news, during early Wednesday, suggesting a relief to the Chinese developers.

The news suggests that the Chinese regulator is up for easing the lending restrictions for the domestic developers as far as the Asset-Backed Securities (ABS) market is concerned. It’s worth noting that the market size turns out to be $152 billion and hence provides a good boost to the investor morale.

AUD/USD licks its wounds

Following the news, AUD/USD bounces off the recently flashed monthly low around 0.7260 to 0.7282. However, broad US dollar strength, backed by the firmer Treasury yields weighs on the quote.

Read: AUD/USD Price Analysis: Takes offers at fresh monthly low, 0.7225-20 in focus