Aggressive fixing: A currency strategist says China may want to weaken the yuan so that it has room to strengthen the currency if needed. — Reuters
BEIJING: China weakened its daily currency fixing by more than traders and analysts had expected before high-ranking US officials arrive in the country to discuss trade issues.
The People’s Bank of China (PBoC) cut the reference level to 6.3670 per dollar, weaker than the average estimate of 6.3610 in Bloomberg survey of 21 traders and analysts.
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