Frank Fadi
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G20: China and US agree to refrain from competitive currency devaluations
China and the USA have today published a joint "fact sheet" after yesterday's talks between Xi and Obama 4 Sept 2016 • China and the United States committed anew to refrain from competitive currency devaluations • China said it would continue an orderly transition to a market-oriented exchange rate for the yuan The fact sheet notes that: • both countries said they would "refrain from competitive devaluations and not target exchange rates for competitive purposes" • China would "continue an orderly transition to a market-determined exchange rate, enhancing two-way flexibility" • China stresses that there is ... (full story)
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Frank Fadi