Yuan falls below 7

CHINA ADVISORY - Report 05 Aug 2019 by Andrew Collier

China’s decision to let the yuan drop below the symbolic 7 level was a striking departure from the PBOC’s stance over the past decade. Although never formally stated, the 7.0 level has been the defacto limit on the value of the currency. We can see several possible causes for this breaking of the symbolic 7 barrier.

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