China moves on currency
On Saturday (June 19), the central bank said it would “proceed further with reform of the RMB exchange rate regime and to enhance the RMB exchange rate flexibility.”
“The recovery and upturn of the Chinese economy has become more solid with the enhanced economic stability. It is desirable to proceed further with reform of the RMB exchange rate regime and increase the RMB exchange rate flexibility,” said the PBoC in a statement.
The central bank is maintaining its +/- 0.5% trading band around the
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