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The People’s Bank of China insists there is no ground for sustained yuan depreciation, however a second consecutive daily devaluation would suggest otherwise.

In euro terms, gold is holding its own at above €1,000 per troy ounce. The rand is expected to come under more pressure from inflation and retail figures for July due on Wednesday. In addition, auto sales have remained healthy, as has the housing sector.

Zhang says there used to be a 3-percent gap accumulated between the official rate and market expectations.

Though the yuan CNY=CFXS opened slightly weaker on Thursday, the spot rate was only about 0.1 percent below the guidance rate CNY=SAEC, the closest it has been since November, as the central bank tried to slow the sharp sell-off that has knocked around 3.2 percent off the...

China’s decision on Tuesday to allow markets greater sway in setting the currency’s level triggered the biggest sell-off in 21 years and roiled global markets. The Chinese authorities assured everyone that this is a one-time step. The peso closed at 46.215 to the U.S....

In an effort to calm volatile markets, the PBOC said late last week it sees no reason for the yuan to fall further. Commonwealth Bank currency strategist Richard Grace said the Australian dollar will come under pressure from the lower yuan, as well as from factors such as lower...

The promise, which analysts said was designed to soothe investors’ frazzled nerves, came after the central bank’s shock devaluation of the yuan last week plunged global financial markets into turmoil.

China’s central bank on Friday raised the yuan currency against the US dollar by 0.05%, the national foreign exchange market said, ending three days of falls after a surprise devaluation.

Global economic norms proved no match for China’s subsidies for politically-connected enterprises, questionable respect for intellectual property rights, state-sponsored computer hacking, opaque crackdowns on foreign companies and poorlabor and environmental standards.

The People’s Bank of China (PBOC) suggests that the adjustment made to the value of the currency was due to the new method of calculating the daily price of the currency. But why should Western markets be anxious about a competitive devaluation of the Chinese currency? Note...

“The central bank has the ability to keep the renminbi basically stable at a reasonable and balanced level”, she said.

With foreign exchange reserves of around $3.65 trillion, China has plenty of scope to sell dollars and shore up its own currency.

Most shares in the region climbed as China kept its currency steady for a second day.

Unhappy and irritated by a question put to him by a female Fox News TV journalist during a debate between several Republican aspirants for the White House, he notoriously said she had blood coming out of her eyes and “wherever”.

Just as his remark about the female journalist is distasteful, his comment about the devalued Chinese currency is extravagant.