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The yuan FX rate has strong support.....>

CHINA PRESS
MNI (London)
CHINA PRESS: The yuan FX rate has strong support and solid fundamentals to
remain stable in the long-term, said People's Daily in a front-page report on
Friday citing unnamed experts. Earlier fluctuations were the result of changes
in the external environment that affect market expectations, which are
controllable, the daily said, noting that the yuan has risen steadily against
the greenback since mid-June. The yuan will be more flexible to fluctuate both
ways, and China will not engage in competitive devaluation, the paper said.
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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