Comments from China SAFEofficial Wang Xiaoyi:
- Irrational market fluctuation seen after China August FX reform
- FX rate fluctuations were markets own actions
- Move in FX mkt is not large scale intervention
- Federal Reserve hesitant to hike rate due to unstable US economy
More to come
- China able to handle normalization of Fed policy
- Feds rate hike would help China expand overseas demand
- Normalization of Fed policy would help stabiles yuan forecast, would help China's reform