China hints strongly at yuan peg change

Building a “market-driven trading system” for the currency is a “top priority”, said Zhou Xiaochuan, governor of the People’s Bank of China on April 18, local media reported. And Guo Shuquing, deputy general governor of the People’s Bank, and head of the State Administration of Foreign Exchange, told the Financial Times later in the week: “We don’t think the fixed system is good. We think that a floating system is good.”

Alex Schuman, manager of FX strategy at Commonwealth Bank Australia in S