Remarks by the PBOC on the Chinese yuan

  • Yuan exchange rate could either appreciate or depreciate in the future

These remarks are interesting to note as they could be prepping the market for a potential trendier move in the currency (or not). The yuan has been rather unimaginative since the middle of the year as the central bank has kept a tight lid on proceedings.

Here is a look at the offshore yuan, largely keeping in between 6.35 to 6.50 since: