Keeping it steady: The People’s Bank of China set the daily reference rate around 7.073 per dollar for a fifteenth straight trading day yesterday, pushing the fixing’s 10-day volatility to the lowest since January 2011. — Reuters
SHANGHAI: China’s central bank is continuing to keep its yuan fix flat as signs of progress emerge in trade talks with the US, with strategists divided on how the currency will fare.
The People’s Bank of China set the daily reference rate around 7.073 per dollar for a fifteenth straight trading day yesterday, pushing the fixing’s 10-day volatility to the lowest since January 2011. A gauge of 30-day swings has also plunged to the lowest since 2015. The yuan can trade 2% in either direction of its daily fixing.
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