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The People's Bank of China hasn't set targets for the yuan and will instead let the market decide its trade, the Securities Times reported citing analyst Zhang Yu with Huachuang Securities. Zhang commented following a forex industry meeting in Beijing on Wednesday, which discouraged participants to form one-way bets on yuan movement. The central bank may further boost the yuan's flexibility and will only provide appropriate guidance when "excessive trading momentum" exists, Zhang was cited as saying. The meeting on Wednesday also indicated that China isn't using the yuan's appreciation to counter rising commodity prices, the newspaper said.