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FX Market Stability a Priority - CFXC

CHINA PRESS
MNI (BEIJING)

Members of China’s FX self-regulatory mechanism should maintain basic stability in the FX market, according to the China Foreign Exchange Market Steering Committee. At a recent meeting the CFXC said the FX rate had displayed two-way fluctuations recently, but China’s macroeconomic situation and balance of payments remained stable and residents have stable expectations for currency moves. The People's Bank of China and the State Administration of Foreign Exchange should also strengthen guidance on FX expectations, correct unilateral behaviour and curb speculation. (Source: Securities Daily)

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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