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Friday, May 3
The fact that China hasn't acted to curb strength in the yuan (CYB) is evidence of the...
The fact that China hasn't acted to curb strength in the yuan (CYB) is evidence of the government's confidence in the resiliency of the Chinese economy, some analysts and economists say. The yuan hit an all-time record high against the dollar Thursday and although the currency is only allowed to trade in a certain band relative to the greenback, recent manufacturing data which points to weakness in new export orders (I, II, III) makes it especially interesting that an interventionist government remains on the sidelines in terms of devaluation.