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China's FX Policy Should Intervene To Break Negative Spiral

CHINA PRESS
MNI (Singapore)
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China’s foreign exchange policy should carry out decisive intervention to break the negative spiral when the yuan shows a unilateral trend and make the fluctuations show a convergence characteristic, Yicai.com reported citing Ding Zhijie, director of the Foreign Exchange Research Center of the State Administration of Foreign Exchange. The yuan has fluctuated in the range of 7.1-7.3 against the U.S. dollar recently, with the central parity rate deviating from the prediction model to send signals of stability, said Yicai, adding that the market expects the yuan will maintain range fluctuations in future.

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China’s foreign exchange policy should carry out decisive intervention to break the negative spiral when the yuan shows a unilateral trend and make the fluctuations show a convergence characteristic, Yicai.com reported citing Ding Zhijie, director of the Foreign Exchange Research Center of the State Administration of Foreign Exchange. The yuan has fluctuated in the range of 7.1-7.3 against the U.S. dollar recently, with the central parity rate deviating from the prediction model to send signals of stability, said Yicai, adding that the market expects the yuan will maintain range fluctuations in future.