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No Need for Concern as Yuan Approaches 7 - Herald

CHINA PRESS
MNI (Singapore)

Concerns about whether the yuan will breach the critical level of 7 against the U.S. dollar are misplaced as it continues to appreciate against major non-U.S. dollar currencies, the 21st Century Business Herald reported citing analysts. The three major yuan indices - CFETS, BIS and SDR - remain relatively stable, meaning regulatory authorities will take a moderate approach to regulating the FX market and will not pay too much attention to specific levels, the newspaper said citing Wang Qing, chief macro analyst of Golden Credit Rating. The yuan has broken through the mark many times since exchange rate reform in 2015, with the PBOC emphasizing two-way movements, the newspaper said.

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