China strengthens yuan

Friday, 14 August 2015

People’s Bank of China (PBOC) sets yuan reference rate at 6.3975

Sets the mid point for the yuan slightly stronger than yesterday’s 6.4010

-1.9% on Tuesday

-1.6% on Wednesday

-1.1% Thursday

And now the yuan strengthens by 0.05% today

Smallest.

Correction.

Ever?

I don’t think so but we shall see…

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.