-
Yuan's slide past 7 versus dollar doesn't mean much: analysts
It is likely that the Chinese currency will slide past 7 against the US dollar, the psychological red line, but that's not what is most important. It is the yuan's stability that matters, Chinese analysts told the Global Times on Tuesday. The nation has "tremendous" room to adjust its fiscal and monetary toolkit if trade tensions worsen, and no number is more important than other numbers for the yuan's exchange rate, said Yi Gang, governor of the People's Bank of China (PBC), the country's central bank, during a recent interview with Bloomberg. Yi's comments were widely interpreted by the market as a sign that the ... (full story)