China’s Politburo says that will keep yuan exchange rate basically stable

China’s Politburo remarks on the economy and policy

  • Will keep liquidity reasonably ample
  • Will keep economic operations within a reasonable range

The remarks pretty much reaffirms China’s stance on the economy and policy steps though the PBOC did move today in defending the yuan, fixing it markedly higher and that has helped USD/CNY close at its lowest since 25 June @ 6.4560.

It looks like China adamant on keeping the yuan below 6.50 against the dollar for now.

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