China’s SAFE says will forcefully prevent sharp volatility in the yuan

Earlier from SAFE (China’s State Administration of Foreign Exchange):

SAFE with more specific yuan comments now:

  • Yuan flexibility is increasing, market understanding of two-way
    fluctuation and ‘risk neutral’ also increased
  • Fed tightening is
    coming to an end, spillover effect is weakening
  • Will keep yuan
    basically stable at balanced levels in a forceful manner
  • Will prevent sharp
    volatilities in the yuan exchange rate
  • Will comprehensively use policy measures to stabilise expectations

This article was written by Eamonn Sheridan at Source