PBOC Sticks With Yuan Support In Face of Resurgent Dollar
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China moved to support the under-pressure yuan for a second day, through its daily reference rate for the managed currency.
The People’s Bank of China set the so-called yuan fixing at 7.1966 per dollar, about 359 pips stronger than the average estimate in a Bloomberg survey. On Wednesday, the gap between the fixing and estimate was 445 pips, the widest since early August.