Does anyone know how Oanda's USD/CNY pair tracks the actual currency?
Most quotes right now put USD/CNY at about 6.84ish and Oanda makes a market at 6.86 x 6.91
Is it a lack of arbitrage that keeps their USD buy rate at 2 points above the market?
Can anyone speculate as to what they are doing behind the scenes? Presumably they are hedging w/ CNY futures?
Most quotes right now put USD/CNY at about 6.84ish and Oanda makes a market at 6.86 x 6.91
Is it a lack of arbitrage that keeps their USD buy rate at 2 points above the market?
Can anyone speculate as to what they are doing behind the scenes? Presumably they are hedging w/ CNY futures?