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MNI: China FX Policy Must Watch Sharply Weaker JPY On Trade

MNI (Singapore)
SINGAPORE (MNI)

The People’s Bank of China needs to coordinate with its neighbor countries with Forex policies to keep exports competitive.

True

China’s central bank needs to enhance regional FX policy coordination because of the potential spillover effects of the sharp depreciation of the Japanese yen which may intensify volatility of Asian currencies and hurt exports, market analysts said.

The rapid drop of the yen, which reached a quarter century low above JPY135.50 to the dollar on Wednesday, was seen as pushed by the continued easy policy of the Bank of Japan, (See: MNI STATE OF PLAY: BOJ To Stay Easy Despite Weak Yen, Yields).

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China’s central bank needs to enhance regional FX policy coordination because of the potential spillover effects of the sharp depreciation of the Japanese yen which may intensify volatility of Asian currencies and hurt exports, market analysts said.

The rapid drop of the yen, which reached a quarter century low above JPY135.50 to the dollar on Wednesday, was seen as pushed by the continued easy policy of the Bank of Japan, (See: MNI STATE OF PLAY: BOJ To Stay Easy Despite Weak Yen, Yields).

Keep reading...Show less