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China widens the yuan's trading band to 1% from 0.5%, the first such move since 2007, and coming...

China widens the yuan's trading band to 1% from 0.5%, the first such move since 2007, and coming a few days ahead of G-20 talks. While the move may be aimed to quiet Western politicians who like to use such occasions to lecture the Chinese about yuan undervaluation, it could be just as likely the widened band gives the currency room to fall rather than rise.
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Comments (2)
  • Econdoc
    , contributor
    Comments (2944) | Send Message
     
    it's a sign of confidence

     

    E
    15 Apr 2012, 07:40 PM Reply Like
  • dieuwer
    , contributor
    Comments (2405) | Send Message
     
    ....and immediately the yuan devalues from 6.2897 to 6.3010 at the offshore spot rate! lol
    So much for widening the trading band: people forgot that "widening" also means a LOWER trading band.
    15 Apr 2012, 09:30 PM Reply Like
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