UPDATE 2-China’s yuan pulls back after officials warn against speculation
Winni Zhou, Samuel Shen and Andrew Galbraith, 31 May 2021
SHANGHAI, May 31 (Reuters) – The yuan hit a three-year high against the dollar on Monday before falling back following a chorus of warnings from Chinese officials against speculative bets on the currency.
A former senior official at the foreign exchange regulator joined a slew of current and former officials on Monday cautioning against one way bets on the yuan, which has seen a two-month long rally against the dollar. In a commentary in the official China Securities Journal, Guan Tao warned against herd behaviour that could harm market order and weigh on China’s exporters. Continue reading “Article: UPDATE 2-China’s yuan pulls back after officials warn against speculation”
