China Foreign Exchange Committee pledges to support the Yuan
Source Fxstreet
China Foreign Exchange Committee (CFXC) vowed to support the Chinese Yuan in a meeting held in Beijing under the guidance of the People’s Bank of China (PBOC) on Monday.
Key takeaways
The meeting discussed resolutely keeping the yuan exchange rate basically stable and at balanced levels
To increase forex market resilience, strengthen forex market.
Measures announced to correct pro-cyclical market activities, deal with behaviors disrupting market orders, prevent exchange rate overshooting risks.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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