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Vice-Governor Pan Gongsheng said China will keep a flexible renminbi exchange rate and open its capital account further, particularly for items not yet freely convertible. He also said foreign exchange trading will be made easier for foreign investors.
A commitment to a flexible yuan and easier FX access reduces the risk of a deliberate devaluation that would make Chinese imports pricier.
govt.chinadaily.com.cnMar 26, 2019After 42 past neutral policy events, Chinese Yuan (CNY per USD) moved a median -0.0% over 5 sessions (50% higher; middle half -0.3% to +0.4%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
