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China moves to support yuan again as Trump inauguration nears

PBOC sets stronger-than-expected daily trading midpoint for the yuan, state banks sell US dollars

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The yuan fell 6.6 per cent against the US dollar last year, its biggest one-year loss since 1994, and many market watchers expect it to soften further this year.

Hong Kong

CHINA stepped into both its onshore and offshore yuan markets to shore up the faltering yuan for a second day on Wednesday, sparking speculation that it wants a firm grip on the currency ahead of US President-elect Donald Trump's inauguration.

The central bank set a

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