I am sure this comment will have pricked up ears at the People's Bank of China.
Xi is speaking on Belt and Road and other issues. Chucks in that currency comment.
- China will not pursue a yuan devaluation that harms others
- China will constantly improve the yuan exchange rate mechanism and let markets play a decisive role in resource allocation
- China will keep the yuan basically stable at an equilibrium level to promote stability of the global economy
US President Trump whine about the yuan prior to trade negotiations this year but has since quietened down. Japan is concerned the tweet in chief may next take his ire out the yen.
more to come
