PBOC weekend comments - yuan volatility is due to trade war
Director-general of the People's Bank of China's international department with the remarks over the weekend.
Zhu Jun said the increase in volatility in the yuan since this month is a normal market reaction to increasing trade tensions
- caused to some extent by the US decision to raise tariffs
On saying China is a currency manipulator:
- violates basic, common economic sense and international consensus, and is unconvincing
- China's economy is resilient, capable of coping
If you are new to all this 'volatility' in this context refers to the weakening of the currency, K? So … here we have again the PBOC OK'ing a lower yuan.