Yuan Snaps Rising Streak After China Cuts Cost to Short Currency

<2> Yuan Snaps Rising Streak After China Cuts Cost to Short Currency

<3> China’s Central Bank Intervenes in Foreign Exchange Market

Bloomberg, the PBOC’s move was seen as a attempt to prevent the yuan from appreciating too quickly, which could hurt China’s exports. The report noted that the yuan’s appreciation has been driven by a strong US dollar and a decline in China’s economic growth.>