The exchange rates of significant.......>

CHINA PRESS: The exchange rates of significant world currencies appear to be

returning to OKlevels seen earlier and will enter an "adjustment and stabilizing

period," the Economic Information Daily, a newspaper under the Xinhua News

Agency said in a Friday front-page commentary. The foreign-exchange market has

digested the effects of black-swan events such as Brexit and Donald Trump's

victory in the U.S. election. The U.S. dollar has fallen 10% compared with its

high point over the past 12 months. The sterling and euro have strengthened and

the trend of the yuan is balanced, it said. The dollar's depreciation can be

regarded as a "self examination" by the foreign-exchange market and a correction

of an overestimation of the spillover effects of the U.S. Federal Reserve's

interest-rate rise and Trump's fiscal reforms. Since the start of this year

China's foreign-exchange market has been smooth, the yuan exchange rate is

balanced and the economy remained resilient with potential. Strong fundamentals

will continue to support a stable yuan in the international currency system.

(Economic Information Daily)