Central Banks
Join

PBOC Dep Gov says 2-way fluctuation of the yuan will become a new normal

Eamonn Sheridan
10/06/2021 | 03:27 GMT

People's Bank of China Deputy Governor Pan Gongsheng being more forthright than his boss.

Comments on the yuan here earlier from the Governor:

hints at the PBOC may loosen its control over the exchange rate of the yuan:

  • improve market-based floating exchange rate mechanism with reference to basket currencies

Then vows further intervention anyway:

  • will keep yuan exchange rate basically stable at reasonable levels

Pan Gongsheng clears it up a bit:

  • 2-way fluctuation of the yuan will become a new normal
  • Save

Most Popular

  • USDCAD Technical Analysis - Key data in focus for the next major move
  • Pres.elect Trump is out to end the daylight saving time
  • Russell 2000 Technical Analysis – Inflation data doesn’t cooperate
  • AMD stock might be ahead of another 34% correction
  • FX option expiries for 13 December 10am New York cut
  • Trump looking to dramatically shrink, consolidate or even eliminate top bank regulators
  • Is AMD stock a buy or sell?

Follow Us

Subscribe to Forexlive's Daily News Wrap

Read our Terms, Cookies and Privacy Notice

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions.

Advisory warning: FOREXLIVE™ is not an investment advisor, FOREXLIVE™ provides references and links to selected news, blogs and other sources of economic and market information for informational purposes and as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect's individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and FOREXLIVE™ specifically hereby acknowledges clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Forex dealer. Any news, opinions, research, data, or other information contained within this website is provided on an "as-is" basis as a general market commentary and does not constitute investment or trading advice, and we do not purport to present the entire relevant or available public information with respect to a specific market or security. FOREXLIVE™ expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information, or with respect to any of the content presented within its website, nor its editorial choices.