Global Market: Yuan strengthens as dollar retreats; China pushes back against undervaluation claims
9 Articles
9 Articles
In the Western debate, an undervalued yuan is seen as a key factor for the export boom. China does not want to be dictated from the outside – but one is not averse to a moderate appreciation.
China Defends Yuan Policy With Imbalances in Focus at EU Talks
(Bloomberg) -- China’s central bank rejected claims that the yuan is undervalued as trade talks proceed with the European Union, where officials have increasingly blamed trade imbalances on the exchange rate.
The Economic Times
Times of IndiaGlobal Market: Yuan strengthens as dollar retreats; China pushes back against undervaluation claims
The Chinese yuan strengthened against the US dollar as the greenback retreated from an 18-month high. Beijing defended its currency policy amid European Union trade negotiations, rejecting undervaluation claims. Supported by strong exports and foreign capital inflows, the yuan has gained 4.4% this year, with authorities favouring stability and gradual appreciation.
Key takeaways: China has refuted international accusations regarding its currency policy and claims that it never intentionally devalued the yuan to gain an unfair commercial advantage. That defense comes at a time when European officials are demanding a stronger yuan to counter the sharp rise in Chinese exports and a historic trade imbalance […]
The Yuan has risen to its highest level in four years against the currencies of its trading partners, following the rejection by the People ' s Bank of China of accusations of currency devaluation and its defence of exchange rate management. The CFETS index of the exchange rate of the Yuan has climbed to 103.9 points during Friday ' s dealings, recording its highest level since April [...] the Chinese Yuan article jumps in front of the…
[Cable News] The People's Bank of China (PBOC) released its RMB exchange rate policy stance yesterday, refuting claims that the RMB is undervalued. Analysts suggest the authorities intentionally chose this timing for the release. Regarding recent...
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