Chinese efforts to talk up yuan fail to stop slide in oil and stock prices

Discussion in 'Market News' started by Lily, Jan 12, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
    Likes Received:
    Despite fighting words from the central bank and Communist party leaders, banks are calling the currency lower, pulling other assets downwards

    The Chinese authorities have stepped up their public relations campaign to convince sceptical investors and the world that they are in control of the country’s spluttering financial system.

    China’s central bank fixed the yuan firmer again on Tuesday but traders were not convinced and the currency slipped in early trade despite what dealers called aggressive intervention to support the currency

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