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People's Bank of China seen supporting yuan around Trump visit

Nov 02 , 2017

China is leaving nothing to chance during next week’s visit by U.S. President Donald Trump, and will likely fortify the value of the yuan - a regular target of attack during last year’s campaign for the White House.

Trump promised while campaigning that if elected he would name China a “currency manipulator” for artificially depressing the value of the yuan to make its exports more competitive.Since he took office, though, the Treasury Department has twice declined to do so because China has not met the necessary criteria.

Beijing has allowed the yuan CNY=CFXS to rise more than 5 percent against the U.S. dollar so far this year, after it plunged around 6.5 percent in 2016, thanks to tighter management of capital outflows and broad weakness in the greenback.


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