Talk of major policy shift toward RMB devaluation overblown

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Livewire
By setting a lower mid-point for the renminbi’s trading band the People’s Bank has sparked speculation that it is embarking on a competitive devaluation of the currency in order to shore up exports. In reality, the move was largely the result of a technical change to how the reference rate is set and most likely does not signal a major policy shift.
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Livewire News brings you a wide range of financial insights with a focus on Global Macro, Fixed Income, Currencies and Commodities.
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Livewire News
Livewire
Livewire News brings you a wide range of financial insights with a focus on Global Macro, Fixed Income, Currencies and Commodities.
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