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China limits yuan's fall after being labeled currency manipulator

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Published : August 07th, 2019
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Category : GoldWire

China took steps to slow the yuan's descent as the effects of Monday's tumble continued to weigh on markets.

The People's Bank of China set the daily currency fixing stronger than analysts expected and announced the planned sale of yuan-denominated bonds in Hong Kong. The moves, which came hours after the U.S. labeled the country a currency manipulator, helped drive the offshore yuan higher. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2019-...ng-in-focus-...

 

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