China battles to defend yuan as Trump renews tariff threats

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China battles to defend yuan as Trump renews tariff threats - Business Mirror

Quick Summary:

A line in the sand is starting to emerge for the yuan, as China tightens its grip on a currency that is facing fresh tariff threats from US President-elect Donald Trump.

China’s decision to allow a rapid devaluation of the yuan in 2015 led to a surge in fund exits, leaving a bitter memory for policymakers in the country.

Still, some traders think the PBOC’s determination to fix the yuan at a stronger level than 7.2 per dollar won’t last.