Justin had the news from the People’s Bank of China here:
PBOC governor Pan Gongsheng emphasized the Bank will not let the yuan plummet without a fight:
- Will step up countercyclical adjustment
- Should resolutely guard against the risk of exchange rate overshoot
With the surging USD after Trump’s win the yuan is just one of many weaker currencies:
This article was written by Eamonn Sheridan at www.forexlive.com. Source