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“Only the “national team”… would be able to turn the tide like this”, said Yingda Securities analyst Li Daxiao, referring to entities acting for the government.

And now the People’s Bank of China has joined the parade. However, the stronger dollar over the past year constitutes a headwind for net exports and a drag on growth.

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....

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

The temperatures, accompanied by “humid low level conditions”, will most likely be higher along and south of a line from Del Rio to Bulverde to Georgetown.

Although cloud cover in some parts of the county was patchy last night, star gazers in County Cavan and nationwide were treated to a spectacular display of shooting stars as the annual Perseid meteor shower reached its peak.

The Perseid meteor shower starts tonight and continues into Thursday morning, according to NASA.

The central People’s Bank of China (PBOC) announced to improve its central parity system to better reflect market development in the exchange rate between the Chinese yuan RMB against the U.S. dollar on Tuesday. For the week the yuan declined by almost 3% – its...

Gold futures on the COMEX division of the New York Mercantile Exchange rose on a weaker US dollar.

“China does not have the need to start a currency war to gain advantage”, he said.

The weather forecast looks good for Perseid viewing, with mostly clear skies and overnight lows in the lower 60s early Thursday morning.