> Yuan exchange rate has solid basis to stay reasonably stable - PBOC

Yuan exchange rate has solid basis to stay reasonably stable - PBOC

A statement from the China central bank alongside the FX regulatory body

Monday, 11/09/2023 | 04:32 GMT

Yuan exchange rate has solid basis to stay reasonably stable at balanced levels
Reaffirms pledge to take action to correct one-sided and pro-cyclical activities
Will resolutely fend off currency overshooting risks
Will resolutely prevent speculation or incite clients to disrupt orders of FX market

The verbal interjection here and the bid in the Chinese yuan today is helping to pin down the dollar, alongside the unwinding of USD/JPY longs after BOJ governor Ueda's remarks over the weekend.