PBOC weekend comments - yuan volatility is due to trade war

Author: Eamonn Sheridan | Category: Central Banks

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
And:
  • China's economy is resilient, capable of coping 
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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. 

Director-general of the People's Bank of China's international department with the remarks over the weekend.

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