SHANGHAI: China’s yuan inched higher yesterday, settling down after the biggest swings since 2005 and driving home the message that Beijing’s promise of currency flexibility will not produce the rapid gains its trading partners would like.
Whatever its daily gyrations, analysts suspect the yuan will be allowed to rise over time but likely at too slow a pace to narrow China’s huge trade surplus, or America’s deep deficit.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!