China’s yuan was little changed on concern a slowdown in the U.S. economic recovery will prompt the central bank to decelerate appreciation to protect exports.
China’s yuan rose toward a 17-year high on speculation policy makers will permit more gains to help contain inflation, which accelerated in all but one of the seven months through January.
China’s yuan tumbled by the most on record on speculation the central bank will widen the currency’s trading band, allowing greater volatility at a time when growth is slowing in the world’s second-largest economy.
"The two local governments' statements shocked investors."
- Liu Dongliang on Dec 16, 2014