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21 Feb 2014
Flash: Biggest decline in Yuna since 2011- BBH
FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman said the PBOC has guided the yuan fixing higher for the fourth session today. It is capping the biggest weekly yuan decline since September 2011.
Key Quotes
"The PBOC has guided the yuan fixing higher for the fourth session today. It is capping the biggest weekly yuan decline since September 2011."
"There are two main explanation of what is going on. The first emphasized economic factors, and especially the slowing of the economy, foretold this week by the disappointing flash HSBC PMI."
"The other explanation focuses on politics. In particular, some see a Chinese-style protest to the White House meeting later today between Obama and the Dalai Lama."
"It does seem a bit out character for China to allow the yuan to fall on the eve of the G20 meeting. A clearer picture is expected to emerge next week."
Key Quotes
"The PBOC has guided the yuan fixing higher for the fourth session today. It is capping the biggest weekly yuan decline since September 2011."
"There are two main explanation of what is going on. The first emphasized economic factors, and especially the slowing of the economy, foretold this week by the disappointing flash HSBC PMI."
"The other explanation focuses on politics. In particular, some see a Chinese-style protest to the White House meeting later today between Obama and the Dalai Lama."
"It does seem a bit out character for China to allow the yuan to fall on the eve of the G20 meeting. A clearer picture is expected to emerge next week."