China lifts a 6.5 year-old ban on locals in the fx market holding long positions in the yuan (or...

|By:, SA News Editor

China lifts a 6.5 year-old ban on locals in the fx market holding long positions in the yuan (or the converse, shorting foreign currencies). The move follows this weekend's widening of the yuan trading band vs. the greenback, and is likely another signal from Beijing that the direction of the yuan's value is no longer a one-way bet.