The PBOC also said on Thursday that it would monitor “abnormal” cross-border flows after the devaluation raised fears that investors would seek to pull capital out of China in anticipation of further falls in the currency.
Officials in the Obama administration meanwhile have said that the president could use executive authority to stop “many U.S. sanctions on Iran” if Congress moves to thwart the deal in its current iteration, reported Politico.
Secretary of State John Kerry doubled down on the controversial Iran nuclear deal Tuesday, telling lawmakers that there was not a better deal available to negotiators and that since 2003 Iran has not pursued a nuclear bomb to the best of America’s knowledge.
The move hit global equities, prompting some investors to seek safe-haven assets such as gold which has now recovered around 3 percent from a 5-1/2-year low of $1,077 during a late July rout. The currency fared worse in global trade, touching 6.5888 yuan per dollar, its lowest...
“While concerned with many provisions of the Iran deal, Gary ultimately supports the agreement and is stepping down to avoid any conflict with UANI’s work in opposition to the agreement“, the group’s CEO Mark D. Wallace said in a statement.