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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.

The Consumer Price Index (CPI) measure of inflation was slightly higher than expected in July, edging up from zero in June due to the weaker impact of summer clothing sales compared to previous year. She added that interest rates would have to raised well before inflation hits...

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...

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...

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.

At a press conference, he said he stuck to his personal view that the decision about when to start raising rates from 0.5 per cent now was likely to come into sharper relief at the turn of the year.

Despite the central bank maintaining the key rate, governor Mark Carney insisted that the time for a hike is moving closer.

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.

The eurozone’s hopes for a strong economic recovery this year have soured over the past couple months, partly because of the crisis over Greece’s future in the currency zone and fading growth in China.

So the notion that China is evolving into a more market-oriented country is to impose a particularly American perspective on Chinese actions. Impose trade barriers if Beijing will not comply. By 1994 it was 8.62 RMB to the dollar (the lowest ever on the record).

China’s currency has continued to slip this week, keeping global investors on edge.