Chinese yuan steadies as market waiting for US response to national security law in Hong Kong

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Chinese yuan steadied after sharp depreciation earlier this week, after Chinese central bank sent stabilizing signals with a stronger-than-expected daily fixing and as the market is waiting for US response to China's national security law for Hong Kong.

The People’s Bank of China (PBOC) set its daily reference rate at 7.1316 on Friday, the weakest level since February 28, 2008, but slightly stronger than expected.

Offshore yuan is trading at 7.1667 per USD at 9:23 pm Hong Kong time, after hitting as weak as 7.1954 earlier this . . .

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