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China suggests it wants no more devaluation of yuan
Yuan Hits Four-Week High as China Signals Support, Revives X-Factor for Fixing
Sunday, August 26, 2018
SHANGHAI -- China's yuan finished Monday afternoon trade at a near four-week high to the dollar after the central bank revived a "counter-cyclical factor" in its daily fixing to support the currency, halting a record 10-week slide that rattled global markets and irritated Washington.
The announcement was seen as the latest signal from the People's Bank of China that is not comfortable with further depreciation in the yuan, which could spark capital outflows from the cooling economy. ...
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