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Devaluation of the yuan will leave......>

CHINA PRESS
CHINA PRESS: Devaluation of the yuan will leave some margin for China-U.S. trade
tensions, Securities Daily noted, citing an anonymous expert, after the PBOC set
the central parity rate at 6.5180 yesterday, the lowest since January 10th. The
trade tensions and huge policy divergence between China and the U.S. resulted in
the devaluation, said Wang Qing, chief macro analyst of Golden Credit, according
to the journal. But regulators have increased their tolerance for wide
fluctuations; they are not likely to intervene in the short term. In the long
term, the yuan will not continue to decline due to the resilience of China's
macro economy, said the Journal.
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