....Traders will be looking for signs about whether the Beijing government is prepared to let the yuan fall further against the dollar and risk the wrath of US president Donald Trump, who has accused China of keeping the yuan low in order to boost exports to the detriment of US producers. However, the People’s Bank of China
has burned through a trillion dollars of foreign exchange reserves since 2014 in order to keep the yuan from falling even further, according to Capital Economics, and traders believe Beijing could allow the currency to float more freely against the dollar. ...
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Friday 3rd of March 2017 06:26:46 AM