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Oct 13, 2018

China suggests that it's done devaluing yuan I GATA I THE GATA DISPATCH



Submitted by cpowell on 01:47PM ET Saturday, October 13, 2018. Section: Daily Dispatches China Echoes IMF Pledges to Avoid Using Currency as Trade War Tool
By David Lawder and Leika Kihara
Reuters
Saturday, October 13, 2018
NUSA DUA, Indonesia -- China's top central banker today pledged to keep the yuan currency's value "broadly stable," a sign that Beijing may be trying to prevent a bruising trade dispute with the United States from spilling over into a currency war.
People's Bank of China Governor Yi Gang's statement at the International Monetary Fund and World Bank annual meetings in Bali came as U.S. Treasury Secretary Steven Mnuchin said Chinese officials had told him that further yuan depreciation was not in China's interest.

Mnuchin has reiterated his concerns that a major drop in the yuan's value this year against the dollar could be part of an effort to gain a trade advantage for Chinese exports or to offset the impact of U.S. tariffs. ...

... For the remainder of the report:

https://www.reuters.com/article/us-imf-worldbank/china-echoes-imf-pledge...

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