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There is no basis for continued yuan devaluation – China SAFE’s Pan

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 5, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    China State Administration of Foreign Exchange’s (SAFE) New Head Pan Gongsheng crossed the wires today, commenting on the yuan exchange rate.

    Key Quotes:

    Will crack down on illegal fx transactions

    Won't go down path of capital controls

    There is no basis for continued yuan devaluation

    Yuan rate v basket is basically stable

    Chinese economy is in reasonable range

    Will step up supply-side reforms
    For more information, read our latest forex news.

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