News Snapshot:
The worst is over for the yuan, according to Chinese regulators, who say resources have been mobilised to shore up the economy and the US dollar could weaken due to the Federal Reserve’s dilemma of balancing growth and inflation. The economy is now better positioned to deal with currency volatility and cross-border capital flows, two key parameters used to measure the health of China’s external sector, Pan Gongsheng, deputy governor of the People’s Bank of China (PBOC), said on Thursday. “Yuan exchange rates are basically stable with two-way fluctuations,” he said, attributing recent volatility to changes in the domestic and...
