Deputy central bank governor, Zhang Xiaohui, says yuan is close to ‘market levels’ after two days of declines
China’s central bank has dismissed concerns that the yuan has further to fall, bringing a sense of calm to global markets that were rocked earlier this week by the biggest devaluation in 20 years.
The People’s Bank of China said the yuan was close to market levels following declines that stoked fears of a “currency war” should the US and Japan respond by pushing down their exchange rates.
Continue reading…
Source: The Guardian Circular Economy RSS