Nick had this on the People's Bank of China and the CNY yesterday: PBOC set to widen the yuan trading band

Reuters with more, citing four sources familiar with internal policy discussions;

  • PBOC considering a widening of the yuan's trading band after a major Communist party meeting this year
  • to allow it to rise or fall 3 percent against the dollar from the daily mid-point rate set, up from the current 2 percent
  • That would allow the central bank to argue the yuan's liberalization was on track, and could be useful in trade talks with Washington, but tight controls on capital outflows and the level at which the yuan starts trade each day reduce its impact, the sources said
  • "A yuan band widening is possible. There could be some internal consensus on this," said one source who advises the government on policy. "But the impact won't be big - it may just be a gesture to express the commitment to long-term market reform."

Link here for more

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Your breath. Please do not hold it.

K?


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Speaking of The Band, have a great Friday