Justin had the news from the People’s Bank of China here:
PBOC governor will maintain yuan exchange rate at a reasonable, balanced level
PBOC governor Pan Gongsheng emphasized the Bank will not let the yuan plummet without a fight:
Will step up countercyclical adjustment
Should resolutely guard against the risk of exchange rate overshoot
With the surging USD after Trump’s win the yuan is just one of many weaker currencies:
This article was written by Eamonn Sheridan at www.forexlive.com.
