The US keeps demanding actions on the yuan that China wanted to take anyway [CNBC]
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Source: CNBC
The US keeps demanding actions on the yuan that China wanted to take anyway AFP | Getty Images Chinese 100-yuan notes at a bank in Nantong in China's eastern Jiangsu province. U.S. negotiators are reportedly demanding China not devalue the yuan The yuan's exchange rate against the dollar has been a repeated complaint from Donald Trump the U.S. president told CNBC Since then, the yuan has strengthened about 1 percent against the greenback and Beijing has said the People's Bank of China "The risk of Beijing engaging in CNY devaluation is an overstated, if not imagined, risk." -Vishnu Varathan, Mizuho Bank Head of Economics and Strategy That reportedly hasn't stopped the White House from seeking assurances there'd be no devaluation, but that American pursuit for yuan stability is "superfluous," according to Mizuho Bank Head of Economics and Strategy Vishnu Varathan. "Fact is, the PBoC is also after a stable CNY," he said, using the three-letter abbreviation for the Chinese yuan (which is
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