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Signs emerging China may accept Yuan weaker than 7/USD

Last updated on October 30, 2018

Bets are mounting that China's currency will slide across the the psychological milestone of seven per dollar, a level not seen in a decade, but some signs show that, this time round, China may allow the currency to slide across the line.

In a recent interview, Yu Yongding, a former PBOC advisor said that Chinese central bank refraining from intervening the foreign exchange market and allowing the yuan to weaken is an important part of the country foreign exchange reform.

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